MILAN--(BUSINESS WIRE)--Furla Group closed out another year of exceptional growth in turnover and EBITDA. The Company’s expected 2016 turnover is 422 million euros, a year-on-year increase of +24.5% at current exchange rates and +22% at constant exchange rates. Furla Group’s EBITDA (up +48% compared to 2015) was nearly double the turnover increase, proving that the Company is able to pursue increases both in turnover and profitability at the same time.
International consumers’ growing appreciation for the brand and its collections, the Company’s significant investments in marketing and its constantly expanding distribution network are among the key factors behind Furla’s outstanding performance across all markets and distribution channels.
Today, the Company has a direct presence in 100 countries; the number of monobrand stores now totals 444, compared to 415 in 2015, and these are split evenly between directly-owned boutiques and franchises. The Company also boasts wide distribution in multibrand and department stores in 1,200 international locations. In 2016, Furla opened new doors in some of the world’s most luxurious shopping destinations, such as rue Saint-Honoré in Paris; GUM and Europeisky in Moscow; Brompton Road in London, Nathan Road in Hong Kong, Nanjing Road in Shanghai and various other upscale addresses in the APAC region, particularly in Greater China, South Korea and Australia.
Furla’s expanded distribution strategy is set to continue throughout 2017. A key opening in Amsterdam is slated for the first half of the year, while in the second half Furla intends to strengthen its presence in China, Australia, Germany and the UK.
Furla grew across all markets in 2016. Italy now accounts for 20% of total turnover, an increase of +18% over 2015. Excluding Italy, the EMEA region jumped +23.5%, nearly reaching 29% of total turnover. Japan, which saw an increase of +31.7%, remains the Company’s top market, accounting for 24% of sales. The United States accounted for 8% of total sales, with a +16.3% year-on-year increase, while the APAC area grew +28.3%, accounting for 19% of the Group’s turnover.
Organic growth has been a driving force behind the Company’s success: worldwide, like-for-like sales were up +9% in 2016, with a good balance across the different regions.
The travel retail sector also grew significantly in 2016, to a total of 262 doors in 63 countries, with a +40% increase in turnover. Furla expects further growth in its global travel retail, particularly in the Asia-Pacific region.
In 2016, the Company gave its e-commerce a boost with the introduction of the MyFurla project and the Russian version of the brand’s online boutique.
People remain central in Furla’s growth and success. The Company has been actively recruiting new talents and has an increasingly international management team.
In addition to its established incentives and bonus program, in 2016 the Group introduced the innovative “Furla for you” project for its 1,669 employees in all countries where Furla is present. With an astute global perspective, the Group developed this special benefits program for its employees, whose different needs reflect the lifestyles, cultures and habits of the many countries where they live and work. This innovative human resources strategy reflects the brand’s desire to stay attuned to each market’s unique characteristics and favors the wellbeing and productivity of employees.
“We are particularly proud of the 2016 results. The investments of the shareholders, our constant efforts in research and product innovation, all the way to distribution, have allowed us to be a leader in the top international markets. What makes the Group special is its ability to respond to consumers’ needs all around the world, and, certainly, its desire to recognize and reward the team that is responsible for its growth year after year,” said Alberto Camerlengo, General Manager of the Furla Group.