Italian luxury goods company Furla Group has announced a year of outstanding performance across all markets and distribution channels in both turnover and EBITDA (earnings before interest, taxes, depreciation and amortisation).
Promising growth of +40% in the travel retail sector is predicted to continue, according to the brand, especially in the Asia Pacific region.
Overall, expected turnover for 2016 is €422 million (US$448 million) which represents a year-on-year increase of +24.5% at current exchange rates and +22% at constant exchange rates. EBITDA rose by +48% compared to 2015.
While Furla enjoyed growth across all markets in 2016, Japan remained the company’s top market with an increase of +31.7%, accounting for 24% of sales. Italy was responsible for 20% of total turnover (up +18% over 2015). The EMEA region (excluding Italy) leapt +23.5% to almost 29% of total turnover. Elsewhere, the USA made up 8% of total sales (with a +16.3% year-on-year increase) and the APAC region increased +28.3% making up 19% of the Furla Group’s turnover.
Furla Group said the reasons for this positive growth include: international consumers becoming more familiar with the brand; the company’s significant investments in marketing; an expanding distribution network; and an enlightened relationship between company and employee.
Furla General Manager Alberto Camerlengo commented: “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. What makes the group special is its ability to respond to consumers’ needs all around the world, and, certainly, its desire to recognise and reward the team that is responsible for its growth year after year.”
Furla Group’s success was also attributed to the nurturing relationship enjoyed with its staff. With an increasingly international management team, the Furla Group is actively recruiting new talent.
Prospective employees may well be wooed by the group’s established incentives and bonus programme including the ‘Furla for you’ project. Launched in 2016, this is a special benefits scheme offering bespoke rewards linked to the unique characteristics of each of the company’s markets.
Furla now boasts a direct presence in 100 countries with 444 monobrand stores (up from 45 in 2015) and wide distribution in multi-brand and department stores in 1,200 locations worldwide.
The e-commerce sector was helped in 2016 with the launch of the MyFurla project and the Russian version of the brand’s online boutique.
With a focus on upmarket shopping destinations, Furla opened new doors in 2016 in rue Saint-Honoré in Paris; GUM and Europeisky in Moscow; Brompton Road in London; Nathan Road in Hong Kong; Nanjing Road in Shanghai. Further upscale boutiques opened in Greater China, South Korea and Australia.
The first half of 2017 will see a key opening in Amsterdam followed in the second half of the year by further openings in China, Australia, Germany and the UK.
