DGAP-News: Wolford to introduce strategic refokussing
(firmenpresse) - DGAP-News: Wolford AG / Key word(s): Strategic Company Decision
Wolford to introduce strategic refokussing
13.12.2013 / 08:00
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Press Release
Wolford to introduce strategic refocussing
- Sharper product line and collection statement
- Focus of innovative strength and creativity on core expertise
- Optimized monobrand distribution and investments in e-commerce
- Implementation of attractive concepts to support trading
partners
- Refocused, intensified communications
- Optimized internal processes and structures
- Creation of new mission statement
Wien/Bregenz, December 13, 2013. The strategic refocussing of Wolford AG
was approved by the Supervisory Board at a meeting on December 11, 2013.
The related decisions were preceded by an intensive strategy process that
covered several months, in which management revised the brand positioning,
critically analyzed processes and structures at all levels and evaluated
opportunities for optimization that will strengthen Wolford's competitive
ability. The goal of this strategic refocussing is to sustainably increase
and strengthen the enthusiasm of customers and partners for the Wolford
brand. For over 60 years, this enthusiasm has been supported by
characteristic features such as timeless fashionable elegance, the
innovative strength of a manufacturing brand 'Made in Europe', highest
quality standards and unrivaled wearing comfort. The following sections
explain the strategic focal points designated for the strategic refocussing
of Wolford AG.
Sharper product line and collection
Wolford plans to adjust the structure of the product line and collection
statement to better reflect the expectations of customers in the future.
This strategic refocussing is based on the results of market surveys as
well as an extensive analysis of the product line. The focus will therefore
shift to the company's core expertise of Legwear as the 'DNA of the brand'
and figure-embracing complementary products, with an expanded offering of
(figure-shaping) Lingerie and Underpinnings (bodys, tops, shirts, etc.).
The Ready-to-wear line will concentrate on products that fit with this more
precise positioning. The Swimwear product group will be discontinued
beginning with the 2015 spring/summer collection. The remaining elements in
the collection will continue to underscore the fashionable-esthetic
demands, high functionality, uncompromising quality approach and the
unrivaled wearing comfort that distinguish the Wolford brand.
Focus of innovative strength and creativity on core expertise
Creative employees in design, product management and product development
have made it possible for Wolford to successfully launch new and innovative
products for many years. The collection currently includes - amongst others
- more than 60 Shape&Control products that meet specific customer needs,
and this area will be a focal point of further development in the future.
Research activities in all product groups are concentrated on new materials
and production processes, and process-related development teams are being
established to utilize opportunities for the creation of unrivaled products
through internal networks and increased cooperation with suppliers.
Optimized monobrand distribution and investments in e-commerce
The refocussing of distribution is intended to ensure the best possible
access to customers by creating a balanced mix of Wolford's own locations
and partner boutiques. Wolford is committed to the verticalization of
distribution, but future plans will also concentrate on the opening of its
own boutiques at top locations in key strategic markets and growth regions
for the brand. The approach for locations that are not managed directly
includes the introduction of new partner concepts for the assortment
definition and marketing support to gain new boutique partners for the
Wolford brand and thereby create win-win situations. The current strong
emphasis on the expansion of Travel Retail will continue. The strategic
optimization of distribution will also include increased investments in the
expansion of the online business to optimally utilize the potential of this
sales channel, which is particularly well suited for Wolford's products.
Implementation of attractive partner concepts to support trading partners
Wolford also intends to redirect its efforts to give trading partners the
attention they deserve. Activities in this area will concentrate on
existing and new department store partners as well as specialized
wholesalers and include attractive concepts to support sales. The product
line will be tailored to meet the requirements of trading partners, appeal
to end consumers with best-selling fashionable Legwear and classic
Essentials, and include selected Ready-to-wear in the Trend and Essential
lines as well as exclusive lingerie products, innovative shapewear and
perfectly coordinated accessories. This intensified focus on trading
partners will also be connected with a reallocation of personnel resources.
Refocused, intensified communications
Market studies have shown that the Wolford brand has a very high positive
emotional association. Women all over the world are enthusiastic over and
committed to Wolford products, and the company therefore has a high share
of loyal customers. However, Wolford also wants to win over new customers
for its products by introducing the brand to this target group at suitable
points of sale with entry level prices and appropriate communication
measures. Wolford is well known for strong imagery with a special emphasis.
In the future the company's message will be focused more directly on the
target group in all communication channels and at the point of sale and
also visually express the brand's strong emotionality.
Optimized internal processes and structures
Only a flexible, market-oriented and innovative organization can be
successful over the long-run. The strategic analysis therefore included a
review of Wolford's core processes and existing structures as well as the
identification of opportunities for optimization. New interdepartmental
project and process management teams are being established to reduce the
time-to-market by redesigning, streamlining and accelerating corporate
processes. This will allow the company to adapt even better to rapidly
changing market conditions, bring innovations more directly to the market
and increase added value.
Creation of new mission statement
In recent months a team of managers from different areas and markets has
worked on the creation of a new mission statement that defines Wolford's
vision and clearly states the key values for corporate management and
cooperation. Through organizational changes and the optimization of
processes and responsibilities, Wolford wants to create an environment that
will allow employees to better contribute their talents and expertise and
also strengthen its external positioning in competition for the 'best
brains'.
The Management Board of Wolford AG is convinced that the refocussing of the
corporate strategy and the related measures will set the right course for
the company's positive development. By bundling its energy on the above
seven goals, the company plans to create sustainable value for its
employees, partners and shareholders and position itself as a producer of
premium legwear and figure-embracing products with unrivaled fit and
comfort.
For additional information contact:
Holger Dahmen (CEO)
Axel Dreher (COO/CTO)
Thomas Melzer (CFO)
+43 (0) 5574 690-1268 (IR) / +43 (0) 5574 690-1477 (PR)
investor(at)wolford.com / press(at)wolford.com
About Wolford AG
Wolford AG headquartered in Bregenz on Lake Constance (Austria) operates 16
subsidiaries and markets its products in about 70 countries via more than
260 monobrand stores (own and partner-operated), approximately 3,000
trading partners and online. The Austrian company, which has been publicly
listed on the Vienna Stock Exchange since 1995, generated sales of EUR
156.47 million in the 2012/13 financial year (May 1, 2012 - April 30,
2013), and has about 1,600 employees. Since its founding in the year 1950,
Wolford has evolved from a local producer of hosiery to a global fashion
brand in the segment of affordable luxury products.
Picture download (high res.): from the Spring-Summer Collection 2014
Pictures: Wolford AG. Images may only be published in direct relation with
Wolford editorial purposes until October 31, 2014.
Glamour: http://service.wolford.com/download/press/ss14/campaign/00003.zip
Pure Summer:
http://service.wolford.com/download/press/ss14/campaign/00023.zip
Summer Shape:
http://service.wolford.com/download/press/ss14/campaign/00040.zip
End of Corporate News
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13.12.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Wolford AG
Wolfordstrasse 1
6900 Bregenz
Austria
Phone: +43/5574/6901268
Fax: +43/5574/6901219
E-mail: investor(at)wolford.com
Internet: www.wolford.com
ISIN: AT0000834007
WKN: 83400
Indices: ATX
Listed: Freiverkehr in Berlin, München, Stuttgart; Frankfurt in
Open Market ; Wien (Amtlicher Handel / Official Market)
End of News DGAP News-Service
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