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Furla mulls more London stores as sales grow

Italian leather accessories brand Furla is looking for “another couple of stores” in London, following a year of double-digit sales and EBITDA growth in 2016.

Furla on Brompton Road in London

Furla on Brompton Road in London

Furla on Brompton Road in London

The brand opened a new London store at 71 Brompton Road in December last year and is considering other locations in the capital, in areas such as Canary Wharf, general manager Alberto Camerlengo told Drapers. Furla also has an existing store on Regent Street in London.

“The UK is very successful for us, focused around London, and we grew sales by almost 22% in 2016,” he said. “The Brompton Road store is interesting because we have a lot of tourist customers but around 45% are local, which gives us a solid customer base.”

It comes as Furla’s total sales grew 24.5% to €422m (£365m) in 2016 compared with the previous year, while EBITDA was up 48% on 2015, although the firm declined to give specific figures.

Furla has a direct presence in 100 countries. It has 444 standalone stores, up from 415 in 2015, split evenly between directly owned stores and franchises. The company is also stocked in multibrand and department stores in around 1,200 international locations.

Camerlengo credits the company’s innovative design credentials for its sales successes, highlighting ranges such as the Jungle capsule collection, which launched in January for spring 17, and sold out in a matter of days in stores in both New York and Milan.

He said that the firm has not adjusted its prices for the UK market in light of weak sterling, which fell following the UK’s decision to leave the European Union.

“We don’t like to change prices with exchange rate fluctuations,” he said. “If it persists we may do it, but not for now – we don’t want to keep changing.”

 

 

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