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Italian fashion group Furla continues to thrive in Asia, the region now accounting for half its global sales.
After recording its highest-yet turnover and profit in 2016, Furla sales rose a further 23.5 per cent in the half year to June 30, reaching euro 238 million.
The Asia-Pacific region registered 63 per cent growth, with China, South Korea and Australia standout markets. Sales in Japan rose 16 per cent.
Furla is preparing to double its presence in Australia after buying back its Australian retail operations from Luxury Retail Group earlier this year.
The Italian-based brand increased its Australian turnover by 64 per cent in the first half of 2017, underpinning group CEO Alberto Camerlengo’s optimism in the local market as part of a broader Asia-Pacific expansion strategy.
“We have great expectations in Australia,” Camerlengo told Inside Retail Weekly. “Based on the results we have until now and the opportunity that we have in front of us, I think we can double our presence in Australia.”
With products available in over 100 countries, Furla Group has 444 mono-brand stores, about half of which are directly managed, and is present in over 1200 multi-brand and department stores.
“The results of the first half of 2017 make us very proud and underline the way turnover has doubled over the last three years,” commented Camerlengo.
“This growth, in extremely complex scenarios, is important in all markets as is the improvement in the quality of our distribution network and of our relationship with our strategic partners,” he said.
Our intent is to continue growing organically both in our diverse product categories and in our geographic footprint.”
Japan is by far Furla’s largest country market, accounting for 24 per cent of its sales. The rest of the Asia-Pacific region accounted for a further 24 per cent in the half year. Europe, Middle East and Africa accounted for 45 per cent and the US for 7 per cent.
Furla’s travel retail channel has also grown substantially: up 47 per cent, thanks to a presence in 52 countries, with a total of 292 sales points ranging from boutiques to corners, shop-in-shops, aircraft and cruise ships.
Across all channels, organic growth was a major factor in the group’s success, but like-for-like sales in directly operated stores also registered double-digit growth.
In the second half of this year, Furla plans to open new stores in Hong Kong, Beijing, Tokyo and Prague.