Furla to open 100 stores in China
Italian premium leathewear house of Furla has signed a joint venture with retail giant Fung Group to open 100 stores in China in the next four years. Furla registered an impressive 18% growth in its turnover in 2012 compared to 2011, reaching a turnover of 212 million euros. Furla generated 76% of its sales outside Italy in 2012 and most of the international development is done through franchising, or in strategic markets with joint venture. Furla has recently stepped up expansion in India, projecting doubling of the number of stores within the next 3 years.
Furla’s success in the past years is mainly due to its democratic luxury positioning, at the same price point as Coach, however, its major advantage is Made In Italy, the company which is based in Bologna manufacturing most of its products in Italy.