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Furla has confirmed its “excellent” performance in 2011, closing the year with a forecast +14% upswing in turnover compared to 2010, reaching €179 million.
An increase in profitability is also recorded with a forecast +47% growth in EBITDA, reaching 14% of turnover (or €25.2 million) compared to 10.9% last year.
The results in all product sectors accelerated, with those of bags and small leather goods (wallets and cosmetics cases) taking on even more significance, generating 75% and 14% of total turnover respectively compared to 11% for the other accessories.
International sales also performed well, registering an increase compared to 2010, and now represent 73% of turnover. Italy, with its 27% share, continued to make excellent progress, the company said.
Influence of Chinese and Japanese markets
“These results are influenced primarily by the Chinese and Japanese markets to which Furla, which began to invest in the area 20 years ago by opening over 60 single-brand boutiques, has dedicated a consistent development plan over the past few years,” it noted.
Today the brand is present in 63 countries with five branches in France, Hong Kong, Japan, Korea and the US. Some 80% of distribution is retail, with 319 single-brand boutiques (145 direct and 174 franchises) and 20% wholesale through 1,290 selected multi-brand boutiques and department stores.
“These financial results are a clear sign that our strategic and managerial investments aimed at strengthening both the brand and the business are bearing fruit. Furla therefore confirms that the same growth trend will be maintained for 2012,” the company noted.
Furla family takes strategic management role
For over 80 years, Bologna-based Furla has remained under the direct control of the Furlanetto family who – supported by a managerial structure – have always self-financed its development.
Over the past year the family has taken a further step towards the future of Furla, progressively leaving the day-to-day operative roles to concentrate on strategic management and defining and managing objectives, assuming representative roles on the boards of the group’s companies.
Furla in numbers
Consolidated turnover 2011: €179 million in 2011 (+14%, forecast at the close of the financial year)
Consolidated turnover 2010: €157.4 million
EBITDA 2011: €25.2 million (+47%)
EBITDA 2010: €17.2 million
Geographical breakdown of sales: Italy represents 27%; 73% overseas, of which:
• 27% EMEA (excluding Italy)
• 26% Japan
• 12% Asia
• 8% US
Countries in which Furla products are distributed: 63
Single-brand boutiques: 319, of which 145 direct and 174 franchises
Multi-brand distribution: 1,290 sales outlets from shops to department stores
Product sales breakdown: 75% bags, 14% small leather goods, 11% other accessories
Employees worldwide: 810
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