Furla sales jump 23%
Furla has seen full-year comparable sales rise by 23 percent, confirming consumers’ growing appetite for accessible luxury brands while demand for bigger, more expensive labels continues to wane.
Family-controlled Furla said on Tuesday it had doubled turnover in the past five years, helped by store openings, to 339 million euros ($378.70 million), up 30 percent at current currencies last year alone.
“I think there is a certain luxury fatigue and customers are getting smarter,” Furla Chief Executive Eraldo Poletto told Reuters. The accessible luxury “segment of the market has a lot of potential because people want balance between the price they pay for a product and the quality they get.”
Furla, which makes the majority of its goods in Italy, operates 415 boutiques worldwide, including 190 directly-owned.
“Furla’s fast growth is a testament to the continuing development of the accessible luxury space, both in leather goods and apparel,” said Exane BNP Paribas analyst Luca Solca.