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Furla 2018 Sales Up 2.8%, Company Consolidates Business

MILAN — Furla’s growth slowed in 2018, primarily as a result of consolidation and investments in production and its online platform.
In 2018, the Italian accessories company registered sales of 513 million euros, up 2.8 percent compared with 499 million euros in 2017. At constant exchange rates, sales rose 5.2 percent. Furla has doubled its sales in the past four years.
“It was a year of harmonization,” president Giovanna Furlanetto said in an interview at the company’s showroom and offices here. “We bought back our business in China and in Australia and invested in technology and production.”
“We are very satisfied with the results last year,” added chief executive officer Alberto Camerlengo, although he noted currency fluctuations cost the company 12 million euros. The executive said Furla in 2018 took control of its retail distribution in China, Hong Kong and Macau from Fung Group. The joint venture with the parent of Li & Fung Ltd. was first inked in 2013. Furla also bought back its business in Singapore.
The Asia-Pacific region represented 26 percent of total revenues and grew 18.2 percent at constant exchange rates. The company did not provide growth at current exchange rates.
Sales in the U.S. rose 13.2 percent, accounting for 8 percent of

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Via:: https://wwd.com/accessories-news/handbags/furla-2018-sales-up-2-8-company-consolidates-business-1203082579/