Furla posts sales up 24.5% as global expansion continues
Italian premium accessories group Furla posted sales up 24.5% at €422m in 2016 while EBITDA was up 48% thanks to rapid global expansion.
The brand, which now has two stores in London in Knightsbridge and on Regent Street, now has a direct presence on 100 countries and 444 monobrand stores globally (up from 415 in 2015), which are split evenly between directly owned and franchise stores. In addition it wholesale accounts now total 1,200.
In 2016, Furla opened new doors in world renowned shopping destinations including rue Saint-Honoré in Paris, GUM and Europeisky in Moscow, Nathan Road in Hong Kong, Nanjing Road in Shanghai and various other upscale addresses in the APAC region, particularly in Greater China, South Korea and Australia.
Its Brompton Road, Knightbridge store was opened just before Christmas and the brand is planning to expand its presence in the UK in 2017, as well as in the Netherlands, China, Australia and Germany.
Organic growth was also strong in 2016 with like-for-like sales (which exclude new store openings) up 9% while travel retail sales were up 40%. Its e-commerce operations were boosted with the introduction of the "MyFurla" (bag personalisation) project and the Russian version of the brand’s online boutique.
"We are particularly proud of the 2016 results. 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," said Furla Group general manager Alberto Camerlengo. "What makes the Group special is its ability to respond to consumers’ needs all around the world, and, certainly, its desire to recognize and reward the team that is responsible for its growth year after year."