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The Italian leather goods brand has reported a 24.5% increase in revenue for 2016 mainly driven by sales in Japan and retail points at international airports.
Furla’s turnover in 2016 totalled €422 million, representing a 24.5% increase at current exchange rates and +22% at constant exchange rates. EBITDA recorded a 48% increase compared with 2015, and like-for-like international sales rose 9%.
The Italian brand says sales has progressed in all its major markets; Italy (+18%), EMEA (+23.5%), U.S. (+16.3%) and APAC (+28.3%), as well as in its top market, Japan (+31.7%).
The company is reported to have more than doubled its turnover in the past five years thanks to its strategy of offering quality leather products at accessible prices.
In the outlook for 2017, Furla expects further growth in travel retail, where it holds over 260 sale points in 63 different countries, with a particular focus on the Asia Pacific region.
In May 2016, Furla signed a €30 million investment deal with merchant bank Tamburi Investment partners, which plans to list the firm this year.
Sources: Reuters/Piambanco News