- Vivian Hendriksz |
London - Italian handbag and accessories label Furla has acquired Effeuno, its Tuscan based leather goods manufacturer. Furla previously held a 30 percent stake in Effeuno, but recently took full control of the company.
Details concerning the transaction were not disclosed. The move sees Furla following in the footsteps of the likes of Chanel, Prada, and Hermès in acquiring its manufacturers to help strengthen and solidify its supply chain. Hermès previously took control of its long-standing partner Tanneries du Puy in 2015, while Chanel has steadily acquired a number of its manufacturers over the years, including embroiders Lesage, cashmere firm Barrie Knitwear and tannery Bodin-Joyeux.
Effeuno was already exclusively producing accessories for Furla, employing over 100 workers who produce approximately two million bags and leather goods for the brand per year. Furla's takeover of Effeuno sits in line with the company's business strategy to invest in increasing its production in Italy. Currently present in more than 100 countries, Furla had grown steadily over the past year, reporting a 23.5 percent increase in sales during the first half of 2017.
Photo: Furla, via own website