Furla sales in China have grown 75 per cent over the five years up to 2015
Outgoing CEO Eraldo Poletto, who joins Ferragamo next month, says he expects China will soon become Furla’s main market.
Also, the handbag brand will go public next year after posting a 126 per cent global sales increase in the past five years, the highest since it was founded in 1927. Sales were up 30 per cent at €339 million (US$383.6 million) and net profit up 41 per cent.
Furla has 44 boutiques in 18 cities in China, including two new flagships in Hong Kong and Macau. Now it plans to focus on the fast-developing first- and second-tier cities on the mainland, such as Chengdu, Chongqing, Hangzhou, Shenyang and Tianjin, reports Jing Daily.
It is also preparing to unveil its flagship store in Shanghai CITIC Square this month, and aims to set up an eCommerce platform in China before the year ends.
Poleto says the company’s delivery of its new product categories as part of an Italian lifestyle brand helps it stand out in the worldwide downturn. This year, Furla introduced a menswear collection and women’s shoes, and continued its eyewear collaboration with De Rigo.
It has also started partnerships with Ratti for textiles and Morellato for watches as part of a lifestyle approach with the modern Chinese consumer in mind.
“The Chinese customer will always be our first priority in all global projects,” says Poletto.