Woolrich Reshuffles Executive Team, Accelerates Expansion Following New Investor Entry

Woolrich reshuffles its management. Six months after announcing the entry of the Chinese group Baoxiniao Holding as a new investor, the U.S. company specializing in outwear has appointed Lorenzo Flamini as new CEO. The executive, who until now held the position of CFO, replaces Stefano Saccone, who had taken over the leadership of the company in 2019.

The promotion of Flamini, who joined Woolrich in 2017 after a long career at Deloitte, is part of the company's new strategic plan, focused on consolidating its presence in Europe and accelerating its growth in Asia-Pacific, a region that currently accounts for around 5% of its global business. As the new head explained, the company will continue to focus on its wholesale, retail and online channels in Europe, which remains its main market.

The transaction coincides with the company's new shareholding phase. At the end of 2024, the Chinese Baoxiniao Group acquired Woolrich's intellectual property rights for all markets outside Europe. In parallel, L-Gam, the Luxembourg holding company backed by the princely family of Liechtenstein, retains ownership and management of the company on the European continent.

Woolrich has been owned by the Chinese Baoxiniao Group since the end of last year.

Headquartered in Shenzhen and with a network of more than 1,800 stores in China, Baoxiniao manages international brands such as Saint Angelo, Hazzys and Camicissima. The agreement with Woolrich provides for a five-year sourcing and consulting contract to ensure global brand consistency.

In addition to reinforcing its historical identity linked to outdoor and American utilitarian style, Woolrich has in the last year embarked on a diversification of its offer with new mid-season categories and a luxury division. In 2023, the company appointed designer Todd Snyder as creative director of Woolrich Black Label, a line with a contemporary aesthetic aimed at the U.S. market.

Woolrich currently operates 35 monobrand stores in Europe and Japan, and is present in department stores such as Le Bon Marché and Galeries Lafayette in Paris, Rinascente in Italy, Breuninger in Germany, Isetan in Japan, El Corte Inglés in Spain and Harrods in London. Founded in 1830, the company faces this new phase with the objective of reinforcing its positioning through a strategy of selective expansion.