Furla’s results among rumors of a sale and a CEO seat to fill

Furla’s results among rumors of a sale and a CEO seat to fill

Rumors of a potential sale of the brand by the Furlanetto family shake the brand. CEO Mauro Sabatini has left its post. Yet, Furla states that sales increased by 7.6% in 2021, compared to the previous year. All during a challenging time: the brand had difficulties in Japan, the top destination for its leather goods, and CEO Sabatini left its post, which will be filled ad-interim by Chief Operating Officer Devis Bassetto.

Furla’s results

Furla didn’t provide an exact number for its revenue, but only the percentage variation from the previous year, on yearly basis, which is of +7.6%. WWD points out that the group’s revenue in 2020 were equal to 290.8 million euro, against the 502 million euro of 2019. The recovery trend, say Furla’s representatives to  MFF, is continuing during the 1st quarter of 2022.

Rumors of a sale

Sabatini concluded his experience as CEO and said goodbye to Furla. While the new CEO is nominated, Bassetto will continue to implement the strategic plan that had previously been approved. The matter of the CEO isn’t the only issue of the Furlanetto family though. According to market rumors, the latter is exploring avenues to sell shares of the company and has nominated Lazard as advisor. There are allegedly two funds competing: one is L Catterton, fund ownerd by the Arnault family (LVMH), which already has shares of Birkenstock, Etro and Ganni (to cite a few). The other is Style Capital, which owns part of MSGM and Luisaviaroma. Not much more is known, and the value of the brand has still to be mentioned.

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