Further ‘exceptional’ growth for Furla Group
Italian luxury company Furla Group has had another year of what it describes as “exceptional growth” in turnover and profit.
Sales soared 31.7 per cent in Japan, its strongest market in Asia, and the company is now setting its focus on boosting sales in China and Australia in the year ahead.
The fashion house turned over €422 million last year (US$446.7 million), up 24.5 per cent year-on-year at constant exchange rates. Pre-tax earnings rose 48 per cent and worldwide like-for-like sales were up 9 per cent.
Furla says the key factors behind its outstanding performance across all markets and distribution channels were a growing appreciation by international consumers for the brand and its collections, the company’s significant investments in marketing, and its constantly expanding distribution network.
Furla has a direct presence in 100 countries. Its monobrand stores total 444, compared to 415 in 2015, and these are split evenly between directly owned boutiques and franchises. The company also has wide distribution in multibrand and department stores in 1200 international locations.
During the year, Furla opened stores on Nathan Road in Hong Kong, Nanjing Road in Shanghai and other upscale addresses in Australia, China and South Korea.
During the year the company’s travel retail sector also grew significantly, to a total of 262 stores in 63 countries, with a 40 per cent increase in turnover.
“We are particularly proud of the 2016 results,” says Furla Group GM Alberto Camerlengo. “The investments of the shareholders, our constant efforts in research and product innovation, all the way to distribution, have allowed us to be a leader in the top international markets.”