Wolford Aktiengesellschaft Overview
Wolford is a 76-year-old Austrian luxury "skinwear" house — legwear (tights, stockings, socks), bodywear, lingerie, shapewear and ready-to-wear — designed in Milan and largely manufactured in-house in Bregenz (Austria) and Murska Sobota (Slovenia). The brand's equity rests on technical knitting know-how, seamless construction and iconic products such as the Neon 40 and Velvet de Luxe 50 tights and the Fatal tube dress. Commercially, however, Wolford is a distressed micro-cap: revenue has fallen from EUR 125.8 M (FY2023) to EUR 75.6 M (FY2025), operating losses have exceeded EUR 40 M for two consecutive years, and consolidated equity was deeply negative (c. EUR -114.6 M) at end-2025. The company is wholly dependent on financial support from its 74.7% shareholder, Lanvin Group/Fosun. A restructuring under new CEO Marco Pozzo halved the H1 2026 EBIT loss, but survival hinges on continued parent funding and a successful product and go-to-market reset.
What the company does
Wolford designs, manufactures and sells premium and luxury women's legwear, bodywear, lingerie, shapewear, swimwear/beachwear, ready-to-wear (knitted dresses, tops, bodysuits) and accessories, plus a smaller men's offer (socks, underwear, tops). The parent company Wolford AG acts as group holding company, central production centre and owner of the marketing-related intangible assets (trademarks), according to the FY2025 Annual Report as reported by TextilWirtschaft. Design and creative direction are based in Milan; production is concentrated in Bregenz and Murska Sobota (Slovenia).
Company's own description
Wolford describes itself (company profile on exchange disclosures) as a globally leading fashion brand for high-quality, sustainable legwear, lingerie and bodywear, headquartered in Bregenz on Lake Constance since its founding in 1950. Its 2026 priority, per the 16 Mar 2026 ad hoc, is "executing its new product strategy and strengthening the go-to-market model" to continue brand revitalisation.
Business and revenue model
Revenue model: ~100% product sales. No material service, subscription or licensing revenue is disclosed (a small amount of other income historically arose from the "World of Wolford" restaurant at Bregenz and real-estate-related items).
Channel mix: Wolford controls roughly 67% of its revenue directly (own retail boutiques, outlets, concessions/shop-in-shops and online), per the FY2025 Annual Report as reported by TextilWirtschaft; the remaining c. 33% is wholesale (department stores, specialty retailers, e-tailers, distributors). FY2025 channel growth: Retail & Outlet -27%, Online -15%, Wholesale +17% (ad hoc 16 Mar 2026).
Value chain position: Vertically integrated — yarn sourcing → knitting, dyeing and finishing in own plants → own design studio → own and partner distribution. Unusual among luxury intimates brands, most of which outsource manufacturing.
Customer types: Affluent female consumers (core), younger fashion-oriented consumers targeted via designer collaborations, wholesale accounts (luxury department stores), and franchise/distribution partners in some markets.
End-markets: Luxury and premium hosiery/legwear; luxury lingerie and bodywear; shapewear; women's knit ready-to-wear. Geographic exposure: Europe/EMEA c. 63% of revenue, North America and Greater China/APAC the remainder (FY2025).
Independent characterisation
Wolford is best understood as a heritage technical-textile brand trapped in a sub-scale, high-fixed-cost operating model. Its manufacturing footprint and boutique network were built for revenue of EUR 150 M+ (achieved in the 2010s); revenue is now about half that. Since 2018 Fosun (later Lanvin Group) has funded repeated restructurings, a sale-and-leaseback of the Bregenz headquarters (2020), management changes and capital increases, but the 2024 logistics-partner switch triggered a supply-chain breakdown that collapsed sales by 31% and severely damaged customer trust (notably in the UK). The FY2025–FY2026 phase is a classic turnaround: closing unprofitable stores, leaning into wholesale, cutting the cost base, and relocating Austrian production to two new Vorarlberg sites before the Bregenz lease ends (expected by end-2027). The equity story for minority investors is essentially an option on (a) the turnaround succeeding and/or (b) a future squeeze-out or other transaction by the majority holder.
Strategy
Stated strategy themes (FY2025 Annual Report and 2025–2026 ad hocs)
Operational resilience and cash generation: convert the stabilisation achieved in 2025 into a solid operating base.
Cash governance and decision rights: tighter cash controls, revived supplier relationships, clear operational and production priorities.
New product strategy: core-focused assortment executing in 2026.
Go-to-market reinforcement: strengthening wholesale, optimising DTC, closing unprofitable stores while investing selectively in flagships (e.g., Berlin Kurfürstendamm).
Brand revitalisation: 75th-anniversary emotional campaign (2025), continued collaborations.
Manufacturing footprint: relocation of Austrian production to two new Vorarlberg sites from Q4 2026 ahead of the Bregenz lease exit.
Outlook framing: 2026 approached with "restrained but clearly structured expectations" (FY2025 Annual Report).
Initiatives in the last 24 months
| Initiative | Date | Description | Target / status |
|---|---|---|---|
| Operational transformation / cost reduction | 2024–2026 | Streamlining and efficiency measures, cost base reduction | H1 2026 EBIT improved by EUR 12.6 M YoY |
| Store network rationalisation | 2024–2025 | Closure of unprofitable stores | Retail & Outlet -27% in FY2025; like-for-like mid-single-digit growth |
| Logistics remediation | Late 2024–2025 | Fixing fulfilment after logistics-partner switch | Management states structurally resolved end-2024 |
| EUR 25.1 M rights issue | May–Jun 2025 | Recapitalisation at EUR 4.80/share | Completed |
| Capital reduction | Approved Jul 2025, effective Dec 2025 | Share capital cut to EUR 14.87 M to absorb losses | Completed |
| Second capital increase | Approved Jul 2025 | Up to 7.69 M shares | Abandoned 31 Jan 2026 |
| Production relocation | Sites identified Q1 2026; start Q4 2026 | Two Vorarlberg sites replace Bregenz | In progress; completion before end-2027 |
| New product strategy and GTM | 2,026 | Assortment focus, wholesale push | In execution |
| 75th anniversary campaign | 2,025 | Emotional brand campaign | Completed |
Medium-term targets
No quantitative medium-term financial targets are publicly disclosed. Historical guidance (positive EBIT for FY2024, issued Oct 2023) was missed. For FY2025, management only stated it did not expect a significant negative impact from trade-policy developments. For 2026, guidance is qualitative.
Products & Services
Wolford does not publish revenue by product line in its recent disclosures; historical reports showed legwear as the largest category. Prices below are indicative retail price points observed on the brand's channels historically and are not disclosed in filings — treated as "pricing model: premium retail, not disclosed in filings".
Legwear (core category; largest revenue contributor per company/aggregator descriptions)
| Product | Description / specification | Target customer | Notes |
|---|---|---|---|
| Neon 40 | 40-denier tights with signature subtle sheen; one of the brand's best-known styles | Core luxury customer | Iconic, long-running |
| Velvet de Luxe 50 | 50-denier opaque tights, soft "velvet" handfeel, comfort waistband | Core / workwear | Iconic, long-running |
| Individual 10 / Individual 20 | Ultra-sheer tights, nearly invisible finish | Formal / occasion | Long-running |
| Satin Touch 20 | Sheer tights with satin finish | Core | Long-running |
| Pure 10 / Pure 50 | Seamless/cut-edge waistband construction ("pure" invisible finish) | Comfort-focused | — |
| Synergy shaping tights | Light-to-medium compression/shaping legwear | Shapewear-oriented | — |
| Fashion legwear (patterned, fishnet, logo, lurex) | Seasonal designs and collaboration capsules | Fashion customer | Rotates seasonally |
| Stockings, hold-ups, knee-highs, socks | Classic hold-ups and socks, incl. men's socks | Core / men | — |
| Aurora (Cradle to Cradle) | Biodegradable/recyclable legwear developed for circularity | Sustainability-minded | Company-reported C2C certification |
Bodywear & Ready-to-Wear
| Product | Description | Notes |
|---|---|---|
| Fatal Dress / Fatal Top | Seamless knitted tube construction worn as dress, skirt or top | Signature since late 1980s |
| String/Body bodysuits (e.g., "Colorado", "Buenos Aires", "Jamaika" families) | Seamless knitted bodysuits, often thong-backed | Core bodywear franchise |
| Knit dresses, tops, leggings | Second-skin ready-to-wear | Seasonal |
| Shaping bodies and dresses | Firm-control bodywear | Overlaps with shapewear |
Lingerie & Shapewear
| Product line | Description | Notes |
|---|---|---|
| Lingerie (bras, briefs, slips) | Lace and seamless lingerie | Seasonal collections |
| Shapewear (shaping briefs, bodies, slips) | Firm/medium control | Competes with Spanx/Skims at higher price tier |
| "The W" | Athleisure/active-inspired line (launched c. 2020) | — |
Beachwear, accessories and men's
- Swimwear/beachwear (seasonal), accessories (gloves, scarves historically), and a limited men's range (socks, underwear, tops).
Designer collaborations (brand-heat capsules)
Wolford has used designer collaborations since 2020–2023 to reach younger consumers; the H1 2023 ad hoc credited "trendy designer collaborations" for growth. Publicly reported partners include Mugler, Amina Muaddi and GCDS among others; exact dates and commercial terms are not disclosed in filings.
Services
-
"World of Wolford" restaurant at Bregenz (per company profile on aggregator sites) — immaterial.
-
No subscription, licensing or service revenue disclosed.
2026 product strategy
The 16 Mar 2026 ad hoc commits to "executing its new product strategy" — understood from management commentary as a narrower, core-focused assortment in legwear and bodywear with fewer seasonal SKUs. Detailed product-level targets are not publicly disclosed.
Financial Narrative
Basis: IFRS consolidated, calendar fiscal years. Restatements noted. Sources: ad hoc 12 Apr 2023 (FY2022), FashionUnited reports of FY2022/FY2023 annual reports, ad hoc 20 Feb 2024, Annual Reports FY2023/FY2024/FY2025 as reported by FashionUnited, VOL.at/APA and TextilWirtschaft; ESEF FY2025 data via financialfilings.com.
Income statement
Notes:
-
FY2021 revenue derived: FY2022 revenue of EUR 125.5 M exceeded FY2021 by EUR 16.2 M (ad hoc 12 Apr 2023).
-
FY2022 EBIT/net loss originally reported as EUR -28.6 M / -34.9 M; the FY2023 annual report restated FY2022 to EUR -30.6 M / -36.8 M (FashionUnited, 31 Jul 2024). Table shows originally reported figures.
-
FY2023 EBITDA: preliminary EUR -0.024 M (ad hoc, July 2024) — shown as 0.0 (rounded). FY2023 revenue: preliminary EUR 126.9 M, final EUR 125.8 M.
-
FY2024 net loss: EUR -50.7 M as originally reported (FashionUnited 12 May 2025). APA/VOL.at reports the FY2025 net loss of EUR -57.25 M as "c. EUR 5.6 M higher than prior year", implying a restated FY2024 net loss of c. EUR -51.65 M — discrepancy of c. EUR 0.95 M, likely restatement.
-
FY2025 revenue EUR 75.59 M; net income EUR -57.24 M (ESEF).
-
EPS from 4investors.de; diluted EPS equals basic (no dilutive instruments disclosed). Aggregator EPS figures differ slightly across providers (e.g., BAWAG/baha shows FY2024 EPS of EUR -5.35).
-
Gross profit and pre-tax income for the period are not available in the sources accessed; marked blank.
Margins
Revenue CAGR FY2021–FY2025: -8.8% p.a. (derived: 75.6 / 109.3 over four years).
Half-year trajectory
Sources: ad hocs 29 Aug 2023, 28 Aug 2025, 19 Aug 2026; VOL.at (H1 2024). H1 2025 EBIT of EUR -22.8 M per the 19 Aug 2026 ad hoc (the 28 Aug 2025 release described it as "relatively stable" vs. H1 2024's EUR -21.8 M — consistent).
Balance sheet
Notes: FY2025 total assets and equity from ESEF data (financialfilings.com). EUR -88 M (derived, low confidence), which reconciles approximately with FY2025 equity after the EUR 25.1 M capital increase and the EUR 57.2 M loss. Share capital: EUR 46.34 M before the 2025 rights issue; EUR 71.37 M after; EUR 14.87 M after the December 2025 capital reduction. Debt structure (shareholder loans vs. lease liabilities vs. bank debt) is not detailed in accessible summaries; the bulk of financing is understood to be Lanvin Group/Fosun shareholder loans plus IFRS 16 lease liabilities (including the Bregenz leaseback).
Cash flow
FY2025 operating cash flow EUR -34.23 M (ESEF). One aggregator (getquin) shows trailing free cash flow of c. -45 M (currency/period ambiguous) — not used.
Ratios
ROE, debt/equity and net debt/EBITDA are not meaningful (negative equity and negative EBITDA). ROIC, current ratio and cash conversion cycle: not publicly disclosed in accessible sources.
Commentary
- FY2021–FY2022 (post-COVID rebound with collapsing profitability): Revenue recovered 15% to EUR 125.5 M in FY2022, but EBIT deteriorated from EUR -5.3 M to EUR -28.6 M, of which management attributed EUR 9.3 M to largely one-off items. A new board installed in August 2022 launched cost cuts.
FY2023 (false dawn): Revenue flat at EUR 125.8 M with APAC +32% and wholesale +12%; EBIT loss narrowed to EUR -17.7 M and EBITDA reached roughly breakeven. Management guided to positive EBIT in FY2024 (Oct 2023) — this proved badly wrong. The annual report was delayed by three months, an early warning sign on financial controls.
FY2024 (operational breakdown): A logistics-partner change caused severe fulfilment failures, store closures and a liquidity crisis. Revenue fell 30% to EUR 87.6 M; EBIT collapsed to EUR -42.6 M; the parent injected EUR 29.05 M of loans.
FY2025 (stabilisation at a lower base): Revenue fell a further 14% to EUR 75.6 M, 78% of the decline attributed to H1 legacy effects. EBIT improved marginally to EUR -40.2 M, but net loss widened to EUR -57.2 M (implying significant financial expense, impairments and/or restructuring charges below EBIT). Operating cash burn of EUR 34 M was covered by the EUR 25.1 M rights issue and shareholder loans.
H1 2026 (first tangible cost inflection): On only slightly lower revenue (EUR 31 M vs 33 M), EBIT improved by EUR 12.6 M to EUR -10.2 M — the clearest evidence yet that the restructured cost base is taking hold. Even so, an annualised EBIT loss of c. EUR 20 M on c. EUR 65–70 M revenue remains unsustainable without external financing, which the company explicitly acknowledges.
Unlock Company Financials
Unlock this company profile to view its financial data.
View Subscription PlansFinancial Detail
Channel growth YoY (%)
| Channel growth YoY (%) | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
Retail & Outlet growth (%) | — | — | -27 |
Online growth (%) | — | — | -15 |
Wholesale growth (%) | 12 | — | 17 |
Total revenue growth (%) | 0.2 | -30.4 | -13.7 |
Channel share of revenue (%)
| Channel share of revenue (%) | FY2025 |
|---|---|
Directly controlled (retail, outlet, online, concessions) (%) | 67 |
Wholesale (%) | 33 |
Income Statement and Margin Analysis (%)
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
Revenue (EUR Mn) | 109.3 | 125.5 | 125.8 | 87.6 | 75.6 |
Revenue growth (%) | — | 14.8 | 0.2 | -30.4 | -13.7 |
EBITDA (EUR Mn) | — | -11.8 | 0.0 | — | — |
EBIT (EUR Mn) | -5.3 | -28.6 | -17.7 | -42.6 | -40.2 |
Net income (EUR Mn) | -12.3 | -34.9 | -30.8 | -50.7 | -57.2 |
EPS basic (EUR) | -1.86 | -5.26 | -3.34 | -5.40 | -4.59 |
Dividend per share (EUR) | 0 | 0 | 0 | 0 | 0 |
Unlock Company Financials
Unlock this company profile to view its financial data.
View Subscription PlansMargin Analysis (%)
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
EBITDA margin (%) | — | -9.4 | 0.0 | — | — |
EBIT margin (%) | -4.8 | -22.8 | -14.1 | -48.7 | -53.1 |
Net margin (%) | -11.3 | -27.8 | -24.5 | -57.9 | -75.7 |
Income Statement
| Metric | H1 2022 | H1 2023 | H1 2024 | H1 2025 | H1 2026 |
|---|---|---|---|---|---|
Revenue (EUR Mn) | 54.3 | 58.8 | 43.1 | 33.0 | 31.0 |
EBIT (EUR Mn) | -16.9 | -12.0 | -21.8 | -22.8 | -10.2 |
EBITDA (EUR Mn) | — | -5.3 | — | — | — |
Net income (EUR Mn) | — | -16.1 | -25.0 | — | — |
Balance Sheet
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
Total assets (EUR Mn) | — | — | 87.1 |
Total equity (EUR Mn) | — | — | -114.6 |
Shareholder loans received in year (EUR Mn) | — | 29.1 | — |
Share capital (EUR Mn) | 46.3 | 46.3 | 14.9 |
Cash Flow
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
Operating cash flow (EUR Mn) | — | — | — | — | -34.2 |
Equity raised (EUR Mn) | — | — | — | — | 25.1 |
Dividends paid (EUR Mn) | 0 | 0 | 0 | 0 | 0 |
Share buybacks (EUR Mn) | 0 | 0 | 0 | 0 | 0 |
Returns & Leverage Ratios (%) and Financial Ratios (x)
| Ratio | FY2025 |
|---|---|
ROA (net income / total assets, %) | -65.7 |
Asset turnover (x) | 0.87 |
Region growth YoY (%)
| Region growth YoY (%) | FY2023 | FY2025 |
|---|---|---|
EMEA (%) | — | -12 |
North America (%) | 2 | -19 |
APAC / Greater China (%) | 32 | -18 |
Region share of revenue (%)
| Region share of revenue (%) | FY2025 |
|---|---|
Europe / EMEA (%) | 63 |
Rest of world (North America + APAC) (%) | 37 |
Share Price & Returns
| Period | Performance (%) |
|---|---|
1 month (to Oct 2026) | -21.8 |
Year-to-date 2026 | -40.6 |
1 year | -43.5 |
3 years (to Dec 2025, Berlin) | -48.1 |
5 years (to Dec 2025, Berlin) | -60.3 |
10 years (to Dec 2025, Berlin) | -87.7 |
Share price data (EUR)
| Share price data (EUR) | 2025 |
|---|---|
Year-end share price (EUR) | 3.06 |
Valuation Multiples
| Multiple | Wolford (Oct 2026) |
|---|---|
Market capitalisation (EUR Mn) | c. 28–32 |
P/E | n.m. (losses) |
EV/EBITDA | n.m. (negative EBITDA) |
Price/Sales (x) | c. 0.4 |
P/B | n.m. (negative equity; book value/share c. EUR -7.76 per finanzen.at) |
Share capital data
| Share capital data | 2023 | 2024 | Jun 2025 | Dec 2025 | Oct 2026 |
|---|---|---|---|---|---|
Share capital (EUR Mn) | 46.34 | 46.34 | 71.37 | 14.87 | 14.87 |
Shares outstanding (M, approx.) | 9.6 | 9.6 | 14.8 | 14.9 | 14.9 |
Analyst Conclusions
Management guidance
-
2026: "restrained but clearly structured expectations"; focus on new product strategy, go-to-market strengthening, operational resilience and cash generation (FY2025 AR; ad hoc 16 Mar 2026).
-
H1 2026: restructuring "on track"; continued restructuring course; financing dependent on shareholder support and additional capital sources (ad hoc 19 Aug 2026).
-
No quantitative revenue, EBIT or cash-flow guidance.
Consensus
No analyst consensus exists.
Bull case
-
Cost inflection is real: H1 2026 EBIT improved by EUR 12.6 M on a EUR 2 M revenue decline; if H2 follows, FY2026 EBIT loss could roughly halve versus FY2025's EUR -40.2 M.
-
Healthier channel mix: wholesale +17% and positive like-for-like in remaining stores suggest the brand still sells when product is available.
-
Strategic optionality: with 74.7% ownership, Lanvin Group/Fosun could pursue a squeeze-out, sale or recapitalisation; a market cap of c. EUR 30 M against a heritage luxury brand could attract a strategic buyer.
Bear case
-
Balance sheet is broken: equity of c. EUR -114.6 M and operating cash burn of EUR 34 M in FY2025 make Wolford a ward of its parent.
-
Top line still shrinking: revenue fell again in H1 2026 (EUR 31 M vs 33 M), so the turnaround is cost-led, not demand-led.
-
Parent capacity and intent uncertain: Lanvin Group's own revenue fell 18% in FY2025, it is divesting brands, and it trades near USD 1 on the NYSE; minority shareholders bear dilution and subordination risk.
Catalysts and monitorables (next 12 months)
-
FY2026 revenue ad hoc (expected around March 2027) and annual report (April 2027).
-
Progress on the production relocation (start Q4 2026) and associated one-off costs.
-
New shareholder loans, debt conversions or capital measures; any squeeze-out or delisting proposal.
-
Lanvin Group FY2026 results and portfolio decisions.
-
Wholesale order book and like-for-like retail trends; online recovery.
-
Management stability (COO Polito's mandate expires 31 Dec 2026).
Analyst verdict
Wolford AG is a valuable brand inside a financially insolvent-looking corporate shell that survives on the explicit support of its 74.7% shareholder. The facts are stark: revenue has fallen 40% in two years to EUR 75.6 M (FY2025), EBIT has been below EUR -40 M for two consecutive years, the FY2025 net loss reached EUR -57.2 M, consolidated equity was roughly EUR -114.6 M at year-end, and the company burned EUR 34 M of operating cash. A EUR 25 M rights issue in 2025 was taken up almost entirely by the parent, a follow-on increase was abandoned, and share capital was written down by 80% to absorb losses.
Against this, H1 2026 provides the first credible sign that restructuring is working: a EUR 12.6 M EBIT improvement on broadly stable sales, with wholesale growing and comparable stores recovering. Under CEO Marco Pozzo, the company is doing the right things — shrinking the store base, focusing the assortment, re-engaging suppliers, and preparing to right-size Austrian production before the Bregenz lease ends.
The investment conclusion depends on who is asking. For the majority shareholder, Wolford is a turnaround with a credible path to breakeven over two to three years if revenue stabilises around EUR 65–75 M and the cost base keeps falling. For minority shareholders, the equity is a deeply subordinated, illiquid option: any recovery accrues first to the parent's shareholder loans, and further capital measures are likely to be dilutive or set at prices reflecting distress. The most plausible paths to minority value are a squeeze-out or strategic sale — neither announced.
Verdict: High-risk, speculative. Operationally improving but financially dependent. Key test: whether FY2026 shows stabilising revenue alongside a sharply reduced EBIT loss, and whether parent support remains unconditional.
Sources: Wolford AG EQS ad hoc and financial report releases (2023–2026); Wolford Annual Financial Report FY2025 (ESEF, 28 Apr 2026) and FY2023/FY2024 annual reports as reported by FashionUnited, VOL.at/APA and TextilWirtschaft; Austrian EVI (AGM/EGM convocations); Lanvin Group press releases (30 Apr 2026; 26 Aug 2026); financialfilings.com (ESEF data); 4investors.de, ariva.de, finanzen.at, BAWAG/baha factsheets (market data); Industriemagazin, leadersnet.at, boerse-express.com (historical and market commentary).
Unlock Company Financials
Unlock this company profile to view its financial data.
View Subscription PlansExecutive Leadership
Board of Directors
| Name | Title | Tenure |
|---|---|---|
Marco Pozzo | CEO, Chairman of the Management Board | Board member since 7 Jul 2025 (Deputy CEO); CEO since 1 Mar 2026 |
Ralf Polito | COO, Member of the Management Board | Since 2023 (joined early); mandate extended to 31 Dec 2026 |
Major Shareholders
| Holder | Stake (%) |
|---|---|
FFG Wisdom (Luxembourg) S.à r.l. (Lanvin Group / Fosun) | 74.7 |
Treasury shares (Wolford AG) | 0.6 |
Free float (other institutional and retail) | 24.7 |
Competitive Landscape
Key Competitors
| Competitor | Category overlap | Ownership | Relative positioning vs Wolford |
|---|---|---|---|
Falke | Premium legwear, socks, bodywear | German family-owned | Larger, profitable, broader price range; strongest direct legwear rival |
Calzedonia Group (Calzedonia, Intimissimi, Falconeri) | Legwear, lingerie | Italian, private | Vastly larger, mass-premium, vertically integrated retail |
Fogal | Luxury legwear | Swiss, private | Similar luxury positioning, smaller |
Spanx | Shapewear, legwear | US, private (Blackstone majority) | Shapewear leader at lower price points |
Skims | Shapewear, bodywear | US, private | High-growth, celebrity-driven; captured younger shapewear demand |
La Perla | Luxury lingerie | Private (restructured after insolvency) | Luxury lingerie peer, also distressed history |
Agent Provocateur | Luxury lingerie | Private | Luxury lingerie |
Hanro (Huber Holding) | Premium bodywear/underwear | Austrian/Swiss, private | Austrian peer in premium basics |
Triumph / Chantelle | Lingerie | Private | Larger, broader distribution |
Commando | Bodywear, legwear, shapewear | US, private | Fashion-oriented "second-skin" rival |
Palmers | Legwear, lingerie (DACH) | Austrian, private | Historic co-founder link; mass-premium |
Victoria's Secret | Lingerie | NYSE-listed | Mass lingerie; scale benchmark |
Peer Comparison FY2025
| Metric | Wolford | Lanvin Group (parent) |
|---|---|---|
Revenue FY2025 (EUR Mn) | 75.6 | 240 |
Revenue growth FY2025 (%) | -13.7 | -18 |
EBIT margin FY2025 (%) | -53.1 | — |
