Yahoo Movies Wolford CEO Silvia Azzali Plans Expansion, Partners With Etro on Capsule
MILAN — After a reorganization last year by chief executive officer Silvia Azzali that aimed to set the foundations for further growth, Wolford is taking on a series of new projects in 2024.
Azzali, who was previously chief commercial officer of the Austrian hosiery and innerwear company, was named to the role last July, but she and Wolford go way back. She first joined the brand in 2011 as managing director for South Europe, leaving in 2016 for Ermanno Scervino and then Moschino, rejoining Wolford in 2019. In an interview at the brand’s showroom in Milan, Azzali was brimming with energy, excited about the steps ahead.
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The executive has been changing Wolford’s management board, appointing a new chief operating officer, Ralf Polito, last April, describing this as “a fundamental figure for the company” given the technicality of the production and the two manufacturing plants owned by Wolford in Bregenz, Austria; and Slovenia. Polito succeeded Andrew Thorndike, who also held the chief financial officer role. “It is key to create synergies between design and production, and to be increasingly faster in responding to the market,” said Azzali.
In February 2023, she named Nao Takekoshi artistic director, praising his skills in “interpreting Wolford’s aesthetics while he is also knowledgeable of the technology involved.” Takekoshi took the helm of the brand following a capsule collection that debuted in 2021. He started his career at Issey Miyake in Tokyo, before going on to work with fashion houses including Cerruti, Gucci, Donna Karan, Jil Sander and Calvin Klein.
With Takekoshi, the company unveiled a new website in November; a new brand book and a new store concept, the Wolford Lounge, unveiled last August at the Milan boutique on Via Manzoni, a few steps away from the Armani Hotel. In July, Wolford opened a store at IFC in Hong Kong, modeled after the new blueprint, and one at the Frankfurt airport in November. Wolford also revisited its store at Harrods.
“Our claim is ‘skin couture’ and the stores present an intimate environment to help customers feel at ease, surrounded by textile wallpaper and natural silk panels by Phillip Jeffries in nude and pink colors, with an open presentation to allow them to touch and feel the materials,” said Azzali.
Key elements are velvety natural oak wood, chandeliers and floor lamps with personalized Sheer Logo fabric with contrasting brass-plated iron fittings. Two kinds of gray velvet enhance the decor of poufs and curtains, and large Italian porcelain stoneware tiles are featured in a color reminiscent of face powder.
There are 143 Wolford boutiques in the world and the company will relocate a store in South Coast Plaza in Costa Mesa, Calif., this spring with the new concept. A new unit will also open in Beverly Hills this year.
On Tuesday, Wolford AG, which is controlled by Lanvin Group, reported sales of 126.9 million euros in the fiscal year 2023, edging up 1 percent compared to 2022. Azzali said that a mild winter impacted the second half of the year, while sales in the first half rose 8 percent.
The group also controls the Lanvin, St. John, Sergio Rossi and Caruso brands.
In 2023, Wolford in the Asia Pacific region reported 32 percent growth, while North America registered a 2 percent gain at a constant exchange rate and a strong performance online, said Azzali, who named Michelle Clemack the new president of Americas last month. The U.S. represents around 27 percent of sales, she said. “Our goal is to grow in the U.S. and Greater China in 2024,” observed Azzali.
Due to the alignment of the products by Takekoshi and the acquisition of new wholesale customers, this channel reported an increase of 12 percent, representing around 40 percent of sales.
Azzali also enthused about a new partnership with Etro that will be unveiled on the brand’s runway on Wednesday during Milan Fashion Week.
The collection, Etro x Wolford, is characterized by three designs realized exclusively for the Italian brand, with paisley motifs on Wolford fabrics. The collection will be available starting September at Etro and Wolford boutiques and on their online sites, as well as at selected retailers globally.
Azzali touted the colorful designs as she believes color was missing from Wolford’s offer and working with Etro’s creative director Marco De Vincenzo was seamless, given his passion for hosiery, she said. “We like how he works, how his aesthetics merge with our techniques and we share the same values.”
The partnership extends throughout the year to two seasons. The first collection will be in stores at the end of August and the second will retail starting in November in time for Christmas gifting.
Etro is the latest in a string of collaborations Azzali has spearheaded, most recently in 2023 with N.21 and with Jonathan Simkhai. Other previous capsules were inked with the likes of GCDS, Adidas, Amina Muaddi, Mugler, Sergio Rossi and Alberta Ferretti, to name a few, on collections that included jumpsuits or bodysuits, for example, in addition to hosiery.
“The strategy hasn’t changed and we plan to continue to partner with other brands,” said Azzali.
The executive said hosiery is “back and really strong again, also given the dressier looks offered by designers, and frankly I didn’t expect this trend to be so powerful,” citing a return of color. “We had not seen red or fuchsia in perhaps 10 years.” Animal prints and polka dots have also returned, she added.
Wolford teamed with Sara Battaglia on a street performance called Red Collar on Tuesday, which saw models, walking through Via Montenapoleone in Milan, wearing a white shirt with a red collar by the designer over red stockings and wearing Kering eyewear. This was conceived to give voice to women who survived domestic violence collaborating with center against violence “Dritto Filo.” Azzali said that 20 percent of proceeds from sales of the red stockings will be directed to the center until March 8, International Women’s Day.
Azzali was also very pleased with the performance of Wolford’s W.O.W. leggings, which she said push the boundaries of fabrics and knit-tech as “the circular knit and 3D back seam create a push-up effect that enhances curves in all the right places. With strong compression, they not only look amazing but also promote healthy blood flow, blending style with superior comfort.” They are also available in wool yarn and each of the limited-edition leggings are individually numbered. “We launched them in December and they were sold out online in two weeks. Our leggings are versatile,” she claimed, “you can wear them to the office, much the same way Wolford changed the concept of a bodysuit that can be donned instead of a blouse.”
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