Italian handbag label Furla grows 5.8% in H1
After six years of sustained, fast-paced growth, Furla is slowing down. In the first six months of the year, the Italian handbag label positioned in the accessible luxury segment generated a revenue of €252 million, equivalent to a 5.8% rise (+10.6% at constant exchange rates) over first-half 2017, when it grew 23.5% (+22% at constant exchange rates).
In a press release, Furla stated that it grew in all the markets where it operates. In the Asia-Pacific region, which now accounts for 27% of the group’s total revenue, sales leapt by 28.6% at constant exchange rates. In the same period a year earlier, the increase in Asia-Pacific had been 63%.
In recent months, Furla has taken direct control of its retail distribution in China, Hong Kong and Macao. In Japan, where the Bologna-based leather goods brand generates 23% of its sales, revenue rose by 9.5%.
Furla also underlined its strong performance in the U.S. (where it generates 7% of its total revenue), as sales increased by 24.2%. Meanwhile, Furla gave no indication about its results in the EMEA region (Italy excluded) and on its domestic market, two of its most important regions, with a share of total sales of 28% and 15%, respectively.
Furla’s revamped e-commerce site has also done extremely well, with sales rising 24.1% at constant exchange rates between January and June 2018. In the travel retail channel, where Furla operates 298 stores in 64 countries, and generates 8% of its global sales, growth in the first-half 2018 reached 23%, compared to a 47% increase in the same period in 2017.
Furla was founded in 1927 by the Furlanetto family, and has 2,514 employees worldwide. It currently operates 471 monobrand stores, of which 253 are directly owned and the rest are franchised. The label is also distributed via 1,200 multi-brand stores in 100 countries.
“For us, 2018 is a year of consolidation,” said Furla’s General Manager Alberto Camerlengo. The group announced a major investment plan to strengthen its delivery organisation, “via the adoption of a more advanced IT system, better suited to the company's increased size.”
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