Photo: BasicNet
This announcement details a major shift in the outerwear landscape as BasicNet, the Italian group headquartered in Turin, finalizes a deal to bring Woolrich into its roster of heritage brands. The acquisition transfers the American label — founded nearly two centuries ago — from its previous owner, L-Gam, a private investment firm supported by influential families across several continents, including members of the Royal Family of Liechtenstein.
Already home to Kappa, K-Way, Superga, Sebago, and other legacy names, BasicNet is known for taking historically rich brands and expanding them across European and global markets through a streamlined model built on industrial efficiency, brand revitalization, and international distribution expertise. Within this framework, Woolrich’s focus on outdoor apparel and its long-standing cultural imprint make it a natural addition.
The synopsis emphasizes Woolrich’s deep American lineage — beginning in Pennsylvania in 1830, when John Richestablished a wool mill that would eventually become synonymous with classic outdoor clothing. Over the years, the company introduced enduring design icons, including the Buffalo Check pattern in the mid-19th century and the Arctic Parka during the 1940s, cementing its status in the wardrobe of generations.
Financial details from the press announcement outline the scope of the deal: BasicNet is acquiring European rights to the Woolrich® name along with the full ownership of Woolrich Europe S.p.A., the division responsible for overseeing sales and retail operations across the region. The transaction is valued at €90 million, with a portion of the payment structured through the transfer of 1.2 million BasicNet shares, each priced at €10.
Statements from the companies’ leadership highlight the cultural and strategic stakes of the acquisition. BasicNet executives Lorenzo Boglione and Alessandro Boglione describe Woolrich as a one-of-a-kind label within the outerwear space, noting its distinct identity and long-standing heritage. They acknowledge the economic unpredictability of the current moment but affirm their belief that BasicNet’s approach can strengthen the brand and return it to sustained growth.
On the Woolrich side, CEO Lorenzo Flamini frames the transition as a pivotal moment. He explains that the move will allow the company to reassert its identity, expand globally, and reinterpret nearly 200 years of history with a more contemporary lens.