Furla growth report slowing down
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Italian handbag label Furla has posted a 5.8 per cent rise in sales for the first half of the year, down from 23.5 per cent growth during the same period last year.
Furla sales growth in Asia has similarly slowed, showing a 27 per cent growth in the Asia-Pacific region as opposed to last year’s 63 per cent increase. Furla recently assumed direct control of retail distribution in the greater China region.
Furla generates 23 per cent of its sales in Japan against 7 per cent in the US. Revenue growth for Japan was 9.5 per cent, while growth for the US market was 24.2 per cent. E-commerce sales are up 24.1 per cent.
Furla’s GM Alberto Camerlengo said: “For us, 2018 is a year of consolidation.” He described the firm’s plans to strengthen its delivery organisation via the adoption of a more advanced IT system as better suited to the company’s increased size.
Questions & Answers
Q.What was Furla's overall sales growth percentage in the first half of the year?
What was Furla's overall sales growth percentage in the first half of the year?
Furla reported a 5.8 per cent rise in sales for the first half of the year. This figure represents a slowdown compared to the 23.5 per cent growth recorded during the same period last year.
Q.How did sales growth in the Asia-Pacific region compare to the previous year?
How did sales growth in the Asia-Pacific region compare to the previous year?
Sales growth in the Asia-Pacific region was 27 per cent. This indicates a slowdown from the previous year's performance, which saw a significantly higher increase of 63 per cent in the same period.
Q.What is Furla's strategy for 2018 according to its GM?
What is Furla's strategy for 2018 according to its GM?
According to GM Alberto Camerlengo, 2018 is viewed as a year of consolidation for Furla. The company plans to strengthen its delivery organisation by adopting a more advanced IT system, better suited to its larger size.
Q.Which market generates the most sales for Furla, Japan or the US?
Which market generates the most sales for Furla, Japan or the US?
Japan generates a higher proportion of Furla's sales, accounting for 23 per cent of total sales. In contrast, the US market contributes 7 per cent of the company's sales.
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