Furla, the Bologna, Italy-based company known around the world for its line of luxury handbags, is expanding into the realm of accessories. The company plans to add eyewear, footwear, jewelry, and watches to its product line. Its executives hope to create a lifestyle brand to appeal to a wider audience. Furla is not planning to add clothing to its line of products.
Furla hopes to compete against other industry giants, such as Prada, Louis Vuitton, and Gucci. The company is already an international force, with stores in Japan, China, Dubai, Russia, Italy, France, London, and New York.
Furla’s leaders hope to transform China into their largest market over the next five years. The company currently has stores in Hong Kong, Macau, and mainland China. Furla has partnered with manufacturer Li & Fung to promote the brand in China. The company is hoping to open a flagship store in the country.
The leaders of Furla believe the Chinese government’s push for austerity and fight against corruption have fueled the market for luxury goods at affordable prices. Furla may also have benefitted from the shift away from logos in the Italian luxury goods industry. In addition, the retailer has experienced growth due to the expansion of online shopping and social media around the world.
Furla was founded in 1927 by the Italian Furlanetto family, and is still wholly owned by the family. The company currently exports its products to over 70 countries around the world.
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