Wood Wood went bankrupt at the end of March, and on April 3rd, DK Company acquired the activities of Carrington ApS, the company behind Wood Wood. TØJ interviewed Morten Dybdahl, brand director for Wood Wood, about the process following the acquisition: “We have done well and come a long way in a short time, but it has not been painless.”
The fashion industry has eagerly followed the media stories about Wood Wood over the past few years, which was most recently owned by the Lundø family. Now, a new chapter is being written with DK Company as the owner. Morten Dybdahl, who is also responsible for Matinique, was simultaneously appointed as Brand Director for Wood Wood. The short answer to how the first period has been after the acquisition is “extremely busy,” and there are several reasons for this:
“We know from previous acquisitions that the initial period is extremely important, but it is also chaotic and incredibly busy. It is crucial that the foundations are laid correctly so that we can quickly build upon them. From one day to the next, we received new colleagues who had to board the DK Company ship, and just as quickly, we had to contact existing suppliers to create certainty about future collaborations,” explains Morten Dybdahl and continues:
“Precisely because there has been turmoil around the brand, we had to quickly tell customers what it concretely means for them that DK Company has taken over Wood Wood. We contacted them one by one. We found that many of the stores were really happy to sell the clothes, but they needed assurance that they could actually get the orders they had placed with Wood Wood. Generally, we have received many positive responses and interest in how we move forward together.”
The group took over a handful of employees who followed with the purchase. Since then, more have joined the team, and they have just hired new colleagues in the positions of Sourcing Manager and Head of Design. They receive many unsolicited applications for jobs at Wood Wood, which underscores the brand’s significant brand value. For DK Company, Wood Wood is generally a strong brand to build on and make profitable again:
“Wood Wood is an iconic Danish brand that is design-driven and has been part of the market for many years. That alone indicates a strong DNA and history. However, they have experienced a challenging period, during which they significantly reduced their distribution network and focused less on close relationships. Therefore, our vision is to create greater internationalization. DK Company sells to more than 40 countries overall, so we have the opportunity to expand Wood Wood’s reach,” says Morten Dybdahl.
The team behind Wood Wood has worked hard over the past months to get the brand well beyond Denmark’s borders. They have increased their sales force and already established a distribution network in 8-10 countries. Their strategy, according to the brand director, is simple: They want to refine the product, ensure it has a sharp design profile, and create a strong market position.
“When everything comes together, it will be successful in getting Wood Wood off the ground,” says the experienced brand director.
Additionally, they had two months to design a new collection, which was first showcased in June in Paris. They have drawn on internal resources from DK Company for this.
Master’s at executing
DK Company has successfully acquired brands over time, integrated them into the group’s large machinery, improved deficiencies at record speed, and shortly after gone to market with them. At DK Company, it is motivating to lay the foundation for growth:
“We are not hasty in any decisions, but we are good at executing. The organization is geared for it, and we know we need to turn things around quickly. It’s easier to jump on the scooter when you have a lot of history in the baggage. But with such a large integration from everything from warehousing to accounts receivable management, some things naturally go easier than others. It has not been painless, but we have a mindset that it will work out. At the same time, we have also looked into what Wood Wood is good at, and there are many good things to build on,” says Morten Dybdahl.
He highlights, among other things, how Wood Wood has previously been a beacon in the industry, and he respects that they were born as a Copenhagen streetwear brand with great international success over the years. Therefore, Wood Wood co-founder Brian SS Jensen is also part of the current team as creative director, and he has been involved throughout the process since the acquisition. For DK Company, Brian SS Jensen is an important part of the new journey that the brand has already embarked on.
Intensive process: From foundation to collabs
Right now, there is intense work to ensure that the integration with Wood Wood is 100 percent complete. They are not quite there yet, as it is a process that is still ongoing. At the same time, they are in full swing with selling Wood Wood’s main spring collection and onboarding new profiles:
“We operate with the idea that Wood Wood should naturally have a sharp design profile, but also be sellable. At the same time, all the ‘necessary’ – the company’s infrastructure from IT to finance – needs to be completely in place. That is the foundation for survival, and DK Company are masters at it. Once that part is completely finished, we can use all our creative energy to create the right collections, branding, and so on,” explains the brand director.
The Wood Wood team is also focusing on getting collabs up and running again, which has been an important part of Wood Wood’s identity over time, with collaborations with everything from Disney to Asics. For the brand director, timing is not so important – it is more important to create the right collab that is conceptually right and beneficial for both parties. For now, it is about being at a place where the groundwork is laid, and things can develop from there:
“There is a big difference between running a design-driven brand like Wood Wood and DK Company’s commercial corporate setup. But we have made it work in a short time. We want to manage the brand in the right way, where we are inspired by the past but extend it into the future. With DK Company’s business approach and Wood Wood’s history, we have a foundation that can really unlock the brand’s potential,” concludes Morten Dybdahl.
