Fosun 430 Million Formally Purchases Silk Stocking Brand Wolford

In May 4, 2018, Fosun International (Hongkong exchange: 00656) and its subsidiaries (collectively "Fosun") announced the formal completion of the acquisition of Austria brand WOLFORD/ "target=" _blank "class=" target ">Wolford AG" ("Wolford", Vienna Stock Exchange: WOL).

As a pioneer in the market of high quality stockings, underwear and pajamas, Wolford was founded in 1950 in Bregenz, a beautiful historic city in Austria.

In 1995, Wolford was officially listed on the Vienna stock exchange.

In the 67 years of development, Wolford has launched a series of innovative initiatives, especially relying on constantly innovating, upgrading technology and manufacturing capabilities to launch a number of well known products to the market.

At present, Wolford's products designed and manufactured in Europe have been sold to 60 countries and regions in the world.

Wolford's current CEO Axel Dreher says:

Wolford originated in the Bodensee area in 1950, initially focused on producing natural and man-made fabric stockings. However, Wolford is not limited to this. In the subsequent development, we continue to develop high quality stockings, underwear and pajamas and other related fields, adhere to the tradition and create new Wolford, thus achieving the brand.

Today, Wolford has gained further help from Fosun fashion group.

We believe that enterprises such as Fosun, which are full of vigor and depth of industry, can inject fresh blood into the brand, and dig deep into China's global market. This will undoubtedly consolidate our dominant position in the market and increase unlimited opportunities.

Cheng Yun, President of Fosun fashion group, said:

We are honored to be an important partner of Wolford. We believe that this world-famous underwear brand and its * * * products will still have great potential in the global market.

At present, the trend of the consumption upgrades of Chinese families in the world is obvious. When the Wolford high quality product power grafting is the motive force, we believe that in the continuation of the excellent tradition of Wolford, the Fuxing will be able to provide the depth of Wolford through the family happiness ecosystem and the deep industrial accumulation.

Fosun announced the purchase of Woldford in March 1, 2018 and completed its acquisition of Wolford 50.87% equity at a price of 12.80 euros per share in May 4th.

In the acquisition of Wolford direct shareholding power, Fosun launched a mandatory takeover offer to all remaining shareholders of Wolford under the Austria Acquisition Act, which is not part of the buyout agreement.

Fosun has been actively investing in the global fashion and consumer goods industry to comply with China's fast-growing consumption trend and has recently set up Fosun fashion group to invest and manage Fosun's growing portfolio of fashion and retail assets.

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About the compound star

Fosun international is rooted in China. It is deeply rooted in health, happiness and prosperity. Through science and technology leading and continuous innovation, it creates C2M happiness ecosystem and provides high quality products and services for global family customers.

Fosun was established in 1992. In 2007, Fosun International (Stock Code: 00656) was listed on the main board of Hongkong stock exchange.

The total assets as of December 31, 2017 were 533 billion 800 million yuan (US $85 billion).

About Fosun fashion group

Fosun Fashion Group (FFG) is an important component of the happiness section of Fosun, focusing on clothing, jewelry, leather goods, and so on.

And other related industries in depth operation and global integration.

FFG's operation mode is integrated into strategic investment and industrial operation. It has French high-end fashion brand Lanvin, Austria high-end underwear brand Wolford, American high fashion brand St. John Knits, Italy high-end.

Brand Caruso and Germany fast fashion clothing company Tom Tailor and other brands.

In the future, FFG hopes to meet the needs of every family and integrate resources to ensure the happy experience of these families.

About Wolford

As the world's leading stockings,

And pajamas brand, Wolford, founded in 1950, is headquartered in Bregenz, a beautiful historic city in Austria. It was officially listed on the Vienna stock exchange in 1995.

Over the past 68 years, Wolford now has about 1555 employees, 16 subsidiaries, 262 offline stores (self run and joint ventures) and 16 online stores.

Today, Wolford's quality products designed and manufactured in Europe (Austria and Slovenia) are selling well in more than 60 countries and regions in the world through a huge sales network. The products comply with the highest environmental standards stipulated by Bluesign in the textile industry.

In the 2016 to 2017 fiscal year, Wolford achieved sales of up to 1.54 billion euros.