Marketing a 'sharp strategy' for FURLA in 2017, buys out SG ops from franchisee

FURLA is buying out the Singapore operation from its long-term franchisee after 15 years of cooperation. FURLA currently has five stores in Singapore, including one flagship store in Marina Bay Sands. In 2017 the group took over the distribution in key markets such as Australia and Portugal. FURLA did not comment on the identity of the franchisee.According to the company, it has seen sales growth of over 50% in Asia Pacific in 2017, and as such, is taking steps and broaden its retail operation in Singapore. The company said it saw a +20% increase in turnover compared to the previous year at constant exchange of 18.3% at current exchange rates, hitting 499 million euros. It added that “comparable store sales propelled the company’s success”, with a high single digit, like for like increase.It attributes its success to “sharp strategies” such as major investments in marketing, with 360° projects that encompass all channels from digital to social and e-commerce, as well as store windows and media communications. In addition, FURLA Group has dedicated significant resources to ensuring, more than ever, that its collections meet the demands of international clientele.Another crucial factor driving the company’s growth is the expansion of the distribution network with stronger, direct oversight by FURLA. The company said that the travel retail sector continues its growth in 2017, with a further increase of an increase of 14.5%.“The 500 million euros goal is something to be very proud of and motivation to keep evolving. The organic sales growth data is the most relevant, as it confirms that the company is on solid financial ground, thanks to the excellence of the brand and the quality of the product and Italian design we offer our customers. The company’s widespread growth across all markets reflects our efforts in further strengthening our distribution network and investing in research and product innovation,” Alberto Camerlengo, chief executive officer of Furla Group, said.Established in 1927 by Aldo Furlanetto in Bologna, FURLA looks to the future with a foot grounded in its solid past of time-honoured craftsmanship, a sophisticated elegance and a playful originality. The invention of inclusive luxury concept, over 90 years ago, is a distinctive trait of the brand which has been guided by the idea that every woman deserves beauty and quality.FURLA produces bags, shoes, and small leather goods for both women and men. The company is present in 100 countries with 467 point of sales situated on the most prestigious international shopping streets, a distribution network with over thousand official points of sales and important growing channels as travel retail and e-commerce.