FURLA To Open 100 New Boutiques @ Greater China

FURLA plans to open over 100 boutiques over the next four years in more than 40 cities in Greater China. Furla has teamed up with the Fung Group through Fung Capital Asia, the private strategic investment arm of the families of Victor and William Fung, to tap the growing demand of Chinese consumers for products of distinction with a strong heritage.

As part of Furla’s strategy to expand in Greater China, the company launched its first new retail concept store in Hong Kong in August 2012 and negotiated the early takeover of distribution rights from previous local partners. From February 1, 2013, Furla will manage distribution in Hong Kong, Macau, and China through its joint venture with the Fung Group, in which Furla holds a majority equity stake. The company recorded exponential growth in Asia, with seventy six percent of its 2012 turnover coming from international markets.

Giovanna Furlanetto, the President of Furla, said: “We wanted to boost our development in Greater China following the successful launch last year of our new retail concept in Hong Kong and the strong response from Chinese consumers to our current network of 20 directly owned stores.” She added: “In Fung Group, we have found a partner whose pedigree is similar to ours. We are both family-owned companies with a proud heritage – 106 years for the Fung Group and 86 years for Furla – with similar values and a vision to bring the highest quality products to the discerning Chinese consumer.”