Furla revenue leaps in first half of 2017, driven by Asia-Pacific and travel retail
today Sep 8, 2017
Furla has started 2017 with a bang, posting a double-digit revenue growth. In the first six months of the year, the Italian handbag label positioned in the accessible luxury segment generated a revenue of €238 million. As stated in a press release, this is equivalent to a 23.5% rise over the same period last year (+22% at current exchange rates).
In Asia-Pacific, now accounting for 24% of the group's sales, revenue skyrocketed, growing by 63% thanks especially to China, South Korea and Australia, a market Furla entered three years ago.
In Japan, another key country for the leather goods brand (24% of its total revenue), sales rose 16%, the same increase recorded in Europe (except Italy), which accounts for 29% of total sales. No indications were given about Furla's performance in Italy, still a significant market for the label, accounting for 16% of its revenue.
Worth mentioning is the significant growth in the travel retail channel, up 47 %, where Furla is present with 292 stores in 52 countries.
In the first six months of 2017, the company founded in Bologna by the Furlanetto family and now employing more than 2,000 people, has continued to grow its market share, especially by strengthening its retail organisation via a series of partnerships with local players around the world.
Since the start of the year, Furla has opened stores on Brompton Road, London, and in Amsterdam, and further openings are planned by the end of the year in Hong Kong, Beijing, Tokyo and Prague.
Last year, Furla announced its intention to seek a stock exchange listing, but the project, originally scheduled for between 2017 and 2018, has now been postponed.
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