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updated 9 Aug 2014, 21:22
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Thu, Mar 20, 2014
Urban, The Straits Times
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Furla's time to shine
by Leslie Kay Lim

In the demanding world of fashion, where timing is as important as design, Italian bag brand Furla is experiencing "a perfect moment", says its chief executive Mr Eraldo Poletto.

Shoppers in China, the brand's fastest growing market, are increasingly tired of logos and "we've never been a logo company", says the 53-year-old Italian proudly, in an interview with Urban last week.

"The woman who carries our bags doesn't need to borrow other people's personalities or wear logos to make herself feel better," he adds of the company's more minimalist designs.

The more accessible pricing of the brand - bags range from $325 to $1,890 - compared to high-end luxury labels is also an understandable draw for the growing middle-class in the mainland.

"Luxury is not necessarily about being expensive," he says, adding, "it's about beautiful design and made-in-Italy quality".

Furla, which was founded in Bologna in 1927, recorded 228 million euros (S$399 million) in sales turnover last year, an increase of 7 per cent compared with the previous year.

International expansion has also played a large part in the company's growth. Now present in almost 100 countries, Furla opened 97 new points of sale last year alone.

In Singapore, it has six stores.

The chance to concentrate on growing globally was also a big motivating factor for Mr Poletto, who left the label in November 2012 to join Alfred Dunhill as chief executive.

He returned to the family-owned company the following May. He says stepping away from Furla gave him perspective and a chance to realise "how big an opportunity there was for Furla to grow".

In line with the company's overseas plans is a global mindset in terms of thinking about the brand's shoppers.

Last year, Mr Poletto introduced to the company the concept of a consumer "Silk Road", spanning 15 cities including Singapore, internally, as a way for it to think about the customer in more global terms.

These hubs are major destinations not only for local shoppers, but for international travellers as well and account for a third of the brand's turnover.

"We can get input from the Chinese customer not only in China, but also in Milan and Rome," he says.

The brand's product offerings aim to be equally multi-dimensional. Its bestsellers include the trendy PVC Candy bags, introduced in 2011, as well as more classic leather carryalls such as the Piper bag.

"Our offerings are eclectic," explains Mr Poletto of the broad assortment and lack of one end-all signature look. "Our shopper also has many roles - mother, wife, worker, and we want to be there for her lifestyle."

A theme that runs throughout its bags is a little light-heartedness, he says.

"We work with the most beautiful Italian leathers in the world. But there's fun in everything we do," he says, pulling out their latest lookbook and pointing to the brightly colour-blocked leather Polaris bag as an example.

The brand has been in Singapore for almost 15 years, and growth here has been consistent with the rest of the world.

It has no current plans to expand into apparel, but aims to increase its offerings in its current product categories, including bags, small leather goods, jewellery, sunglasses and shoes. A website revamp, to offer a better e-commerce and customer experience, is also planned for later this year.

Of course the brand plans to keep expanding globally, especially in the race to stay relevant and competitive.

Speaking of brands with similarly priced accessories, such as American labels Coach and Michael Kors, he notes "they have a bigger domestic market, but it only pushes us to go overseas faster".

And its growth plans are ambitious. Mr Poletto says he envisions the brand hitting 500 million euros in turnover with 10,000 employees within 10 years, up from the current 1,100-plus workers, by keeping up its rate of growth and expansion.

"We're a flexible, healthy company with no debts. I don't think we should be afraid to think big."


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