Asia Pacific drives Furla beyond €500 million sales threshold
Italian leather goods brand Furla surpassed the €500 million turnover threshold last year, as the Asia-Pacific market continued to drive growth.
Sales of the privately owned fashion house reached €513 million last year, representing a doubling of its turnover in just four years.
Asia Pacific is the brand’s new powerhouse, accounting for 26 per cent of overall sales and growing by 18.2 per cent last year.
“We’ve invested significant financial resources in managing the unrestrained growth the company has experienced over the last several years, from acquiring total control of our retail distribution network in China, Hong Kong,Macau and Singapore, to strengthening our supply chain,” said CEO Alberto Camerlengo.
“Our single, fundamental goal has always been to guarantee continuity and excellence in all of Furla’s creations.”
Sales in the US rose by 13.2 per cent, and that market now accounts for 8 per cent of Furla’s total sales. Japan remains the brand’s leading single-country market with 22 per cent of sales, however the increase last year was a more modest 3.6 per cent. Europe, Middle East and Africa accounts for 44 per cent of sales.
Furla Group continues to seek direct control of its brand distribution through a strengthening of its mono-brand stores, which produced 70 per cent of turnover last year. Direct distribution, combined with multi-brand sales points and franchising, allows Furla to have a presence in 98 countries worldwide: its 490 mono-brands (285 directly owned, 163 franchisees and 42 travel retail doors) are located at prestigious international shopping locations. More than 1200 select multi-brands and department store corners complete the company’s distribution network.
Camerlengo said the travel retail sector was particularly strong for the brand last year, registering a 16.2 per cent increase in sales year on year, and now accounting for 7.3 per cent of the group’s turnover through its sales at 293 doors, from boutiques, corners, shop-in-shops, aircraft and cruise ships, across 64 countries.