For fiscal year 2007/08, luxury label Wolford increased its sales in all major distribution channels and markets. The Austran company reached a record level of 157.7 million and a sales rise of 11,3% to a record level of 157.7 million. Wolford generated an average annual sales growth of 10,7% during the last three fiscal years. “With record sales of EUR 157.7 million and a disproportionately high EBIT increase, we once again successfully continued our growth path in the last fiscal year”, says Holger Dahmen, CEO of Wolford AG in positively reviewing the company’s performance in 2007/08. “Thus we have achieved an ongoing improvement in profitability while posting average annual sales growth of 10,7% over the last three fiscal years. This success is the result of a series of measures, in particular the optimization of the product portfolio and our visual brand identity, as well as the extension of monobrand distribution”. Dahmnen adds.
The Wolford Group improved its profit from continuing operation during the past fiscal year, which could be increased by 52,7%, to EUR 9.3 million compared to EUR 6.1 million of the previous year. The net profit for the year improved to EUR 7.2 million. In the USA sales went up with 3,5%, in the newer Eastern Europe market earnings rose with 32,8%, and the UK market achieved growth of 19,8%.
During the review period, Wolford implemented its strategy of focusing on a qualitative improvement of its distribution activities. The company generated 39,3% of its total sales through its own retail locations, compared to 27,9% three years earlier. The growth was mainly driven by its brand owned boutiques, the new store concept made a considerable contribution.
“We will continue to focus on achieving our strategic targets in the future, i.e. the optimization of our product portfolio and the qualitative expansion of our controlled distribution, and thus the systematic enhancement of the Wolford brand and its sustainable positioning in the luxury segment”, CEO Dahmen concluded on the company’s plan for the present fiscal year.