Investment News

Furla preparing for its 2017 Ipo

Tha Italian new icon for leather bags and accessories celebrating its success

Furla preparing for its 2017 Ipo

Claudia Astarita

-

Furla is surely among the most iconic brands of Italian fashion and the popularity of its leather bags and accessories is exponentially growing. The company is based in San Lazzaro di Savena, in the province of Bologna, and was founded by Aldo and Maria Furlanetto in 1927 to become an international giant: it closed 2015 with a consolidated turnover of approximately ?339 million (30% more than the previous year), around 80% of which made outside Italy. Today, Furla runs over 415 stores in more than one hundred different countries, and has more than 1,550 employees. An estimated number of 2 million people own a Furla bag.

The big news is that in 2017 Furla will launch an Initial Public Offering. The public stock market launch will be managed by Tamburi Investment Partners, which has already announced an investment of at least ?30 million in the company.

The news of Furla's IPO was welcomed with great optimism as there were so few newly listed Italian companies last year. Giovanni Tamburi, who is the investment fund CEO, recently declared to Forbes magazine: "I am especially proud of this deal", because Furla "undoubtedly is one of the most prestigious Italian businesses, a brand recognized and respected across the world" and  the listing aims at "accelerating its already impressive growth, in both sales and profitability." The final goals of the management are both completing the internal reorganization process started by president Giovanna Furlanetto and quickly attaining the goal of 500 million in revenue - a result that is within reach, consider the recent growth of the brand. If the market trends of 2015 are confirmed, such a target will be hit in less than three years. According to Giovanna Furlanetto, the strategic step that the company is taking is going to pursue growth towards the future as Furla's tradition deserves.

Follow @castaritaHK

© Riproduzione Riservata

Commenti