Cristina Calori, the Italian entrepreneur who controlled the US outwear brand Woolrich International Ltd, sold to L-GAM Advisors sarl the majority stake she owned in the company, through WP Lavori in Corso srl and WP Holding srl.
Following the sale, Cristina Calori has then completely divested her holdings in Woolrich and will focus on other WP group holdings such as theBaracuta, Blundstone and Barbour brands.
L-GAM is a Luxembourg-based investment company sponsored by the royal Liechtenstein family. L-GAM is joing then the Japanese company Goldwin Inc in Woolwich capital, which is also raising its stake and is finalizing a new joint venture with Woolwich in order to develop Asian markets, starting with Korea next Autumn/Winter 2019-2020.
Woolrich International was supported by financial advisor Deloitte Financial Advisory, Gattai, Minoli, Agostinelli & Partner and Mayer Brown law firms and Poggi & Associati as for the fiscal issues. L-GAM was advised by LMS Studio Legale and Kirkland & Ellis law firms and by the financial advisor Essentia Capital.
WP Lavori in Corso srl, a partner of Woolrich since 1984 and its licensee for Italy since 1998 and then for Eruope and Asia through Woolrich Europe, acquired a majority stake in Woolrich Inc two years ago. Woolrich Inc is the US company founded in 1830 in Pennsylvania owner of the iconic brand of the Arctic parka. Woolrich Inc and Woolrich Europe were merged and gave birth toWoolrich International (see here a previous post by BeBeez). Woolrich International reached 180 million euros in revenues in 2017, thanks to 32 flagship stores in the world and soon other two stores will be opened in Rome and New York.