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Furla revenues accelerate 30 percent in H1

By Prachi Singh

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Italian accessories company Furla reported a revenue rise of 30 percent to 151. 5 million euros (172 million dollars) at average exchange rate, in the six months to June 30, 2015 against the same period last year. Like-for-like sales increased 22 percent and accounted for 65 percent of total revenues.

Owned by the Furlanetto family, this is for the first time that the company revealed its first half financial results, which is being viewed by the industry experts as a step towards the company preparing to get listed on the bourses. On the other hand, Furla is in no hurry to attract investors as its self-financed retail expansion continues to tap new markets.

Headquartered in Bologna, Italy, Furla launched 39 new stores in the first half of the fiscal in Europe, Asia-Pacific, the US and Japan. The company opened doors to a new store in Singapore last month, and a flagship on New York’s Fifth Avenue and another one in Tokyo’s Ginza. A store near Rome’s Spanish Steps is slated to open in November, followed by a launch in Hong Kong in December and one in Shanghai in the first quarter of 2016. One store in London will be launched in the first half of next year. Furla today is available in 100 countries and is stocked at over 1,100 multi-brand stores.

In the first half, the company’s exports led by Japan were 80 percent of total sales. Japan contributes 25 percent of Furla’s total revenues. Sales in Japan rose 19 percent. Sales in the Asia-Pacific region climbed 71 percent; Europe - 29 percent and Italy - 18 percent. Sales in the US rose 28 percent and accounted for 9 percent of the total revenues. Travel retail sales to increased 69 percent.

Furla