Furla to buy back Australian distribution

Accessories brand Furla has confirmed that it is to buy back the Australian distribution network from its distributor, Luxury Retail Group.

Furla has acquired 100 percent of the distribution network, as part of its ongoing vision to “further strengthen” its position in Australia and New Zealand.

As part of the plans, Furla has announced that it is to open five more stores in Australia and New Zealand, beside enlarging the existing Westfield Sydney boutique.

Furla opened its first boutique in the region in Westfield Sydney in December 2013, and now has 15 stores in Melbourne, Sydney, Brisbane and Gold Coast. By the end of 2017, the network will be made up of 20 stores.

“Australian market is very important for Furla and crucial in our expansion plan. Since 2013, Luxury Retail Group has been the best key partner to work with as it perfectly embodies the Furla vision, values and DNA,” said Alberto Camerlengo, Furla Group chief executive. “We expect that in 2017 Australian business will represent the 5 percent of the global revenues, we are very proud to announce this acquisition. We aim to enhance the distribution in this Country given the success of the Furla retail strategy and the very positive response of Australian customers.”

Luxury Retail Group, managing director, Nelson Mair, added: “We believe the timing makes sense for Furla to reacquire its distribution. After having achieved 95 percent sales growth in 2016, this vertical integration of Furla Australia will better equip the business for the next phase of its growth.

“I am extremely proud of my team and what they have been able to achieve in such a short space of time and thankful to Furla for trusting their wonderful brand to us.”

As part of deal, two Luxury Retail Group directors will remain as board members of Furla Australia.

Furla has a direct presence in 100 countries, with 444 monobrand stores that are split evenly between directly-owned boutiques and franchises. The company also has distribution in multibrand and department stores in 1,200 international locations.

Image: courtesy of Furla