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BasicNet Plans to Relocate Woolrich Corporate Employees to Turin, Trade Unions Push Back
Yahoo Finance· 2025-12-05 18:29
Core Viewpoint - BasicNet's acquisition of Woolrich has led to a dispute with trade unions over the relocation of corporate operations, which the company claims is a strategic move to revitalize the brand and ensure job continuity [1][3]. Group 1: Acquisition Details - BasicNet acquired Woolrich for 90 million euros from L-Gam, which had owned the brand since 2018 [1][5]. - The acquisition includes the rights to the Woolrich brand for Europe and 100% of Woolrich Europe SpA, which manages its distribution and retail activities [5]. Group 2: Employment and Operations - Woolrich employs 109 workers in Bologna and 30 in Milan, with the company planning to relocate these employees to its headquarters in Turin [1]. - Retail employees in Bologna and Milan will not be affected by the corporate relocation, as Woolrich operates two flagship stores in these cities [2]. Group 3: Company Statements and Future Plans - BasicNet stated that the relocation is aimed at strengthening Woolrich's brand value and creating synergies for future growth [3]. - The company is committed to safeguarding jobs and will utilize welfare measures to assist employees who cannot relocate [3]. - Co-CEO Alessandro Boglione emphasized the importance of employees and the company's commitment to working with trade unions for a smooth transition [4].