Wolford Secures $25 Million Capital Boost and Strengthens Leadership Team

Wolford, Lanvin Group’s flagship brand, raises new resources after closing 2024 with a turnover of less than €100 million. The underwear company has completed a capital increase of €25 million with which it “strengthens its financial structure to accelerate its strategic transformation”.

The operation, carried out through a rights issue, resulted in the issuance of more than five million new shares at €4.80 per share. The share capital was set at €71.4 million. According to the company, this capital increase “reflects the confidence of parent company Lanvin Group and other key investors in Wolford’s vision and execution.“

Wolford closed 2024 with a 31% drop in sales, reducing its sales to below €100 million 

In parallel, the company has appointed Marco Pozzo, with previous experience in companies such as Zegna or Alessi, as deputy CEO. Last January, Regis Rimbert stepped down as CEO of Wolford after only six months in the position, where he had succeeded Silvia Azzali.

Wolford, which celebrates 75 years in business this year, has been part of Lanvin Group (formerly Fosun) since 2018. The company, which is listed on the Vienna Stock Exchange (while Lanvin Group is listed in New York), closed 2024 with a turnover of just €87.6 million, down 31% from the €126.3 million recorded in 2023.

Lanvin Group, meanwhile, ended 2024 with a 23% contraction in turnover to €328.2 million. The company considered 2024 as a year of “transition”, in which its brands were affected by the economic and political context.