BasicNet relaunches Woolrich and its bicentennial history
Founded in Pennsylvania in 1830, the brand was acquired by the Boglione family group: 'We want to start by exploring an invaluable heritage and bring it up to date'
Woolrich starts again at Pitti Uomo after the acquisition of the historic American brand by the Turin-based BasicNet (409.2 million consolidated turnover 2024 and 61.1 million ebitda) of the Boglione family, listed on Euronext Milan, which further enriched its portfolio of casual brands (Kappa, Robe di Kappa, K-Way, Superga, Briko, Jesus Jeans, Sebago, Sabelt, Sundek).
Lorenzo Boglione, co-CEO of BasicNet with his brother Alessandro, and Marco Tamponi, brand director of Sebago and Woolrich, explained at a press conference that the Woolrich stand at the Florentine men's fashion show, which runs until tomorrow, does not have a new collection on display because there was no time to design it. "But there is a strong desire to shine again after a period of economic and financial difficulty, which has halved the brand's turnover, now down to 90 million euro, and increased debt. "We paid Woolrich 90 million euros, mainly made up of debt," explained Boglione, saying he was "very proud to be at Pitti as the new owner of a brand that has almost 200 years of history". Woolrich was founded in 1830 in Pennsylvania as workwear for hunters, lumberjacks and labourers and is the oldest outdoor brand in the world.
The announcement of the re-launch, however, comes at a time of great tension between the 160 Woolrich workers - 130 in Bologna and 30 in Milan - and the new ownership, which is intent on transferring them to the BasicNet headquarters in Turin. Just yesterday, while Boglione was answering journalists' questions, the trade unions organised a workers' garrison a few metres away, in front of the Fortezza da Basso where the trade fair is being held, to demand the revocation of the measure. 'We announced last Friday that the transfers are suspended until the end of the month,' explained Boglione at the Woolrich stand, 'for the rest we are discussing in the appropriate fora. The margins for a change of course seem slim.
On the relaunch front, the certainty is that Woolrich will restart from the substantial archive of garments (about 15 thousand) and fabrics (hundreds of kilometres). "The direction will be to re-explore a heritage of inestimable value, to bring it up to date," explained Marco Tamponi wearing the red and black checked jacket - the buffalo check - that has become the symbol of the brand together with the arctic parka. "We start from a brand that is now focused on a jacket to build a complete brand," explained Boglione and Tamponi.
Today, Woolrich generates 80% of its turnover in Italy and Germany: "But there are still huge margins for growth in these two countries," added Boglione, "as well as in the others where we will try to export. BasicNet bought the rights to the Woolrich brand for Europe and 100% of Woolrich Europe, the company that manages distribution and retail, not for the whole world. The CEO explained that he has not yet made a business plan, but that he is in no hurry to get the accounts back in the black: 'What interests us is not so much balancing the budget,' he said, 'as being able to say, in 10-15 years' time, that we have made a good investment. The strength of the group gives us the peace of mind to work calmly. We are still in the phase where we listen and learn'. Before Christmas, a Woolrich shop was opened in Turin, but only because 'we had the property available'.
