Furla expands with watch collection

Furla is expanding its product range with a new watch collection. The Italian leather goods company has signed a three-year licensing contract with Japanese watchmaker Citizen to produce a complete collection. Originally, Furla had a limited line of watches produced locally in Italy, but this new deal is expected to generate sales of €12 million (£8.3 million) by 2008. The license is new for Citizen, whom Furla calls “the ideal partner” for the launch of a line of fashionable watches, “both in terms of style and affordable luxury”. Prices for the line, which will be available from this fall, will vary between $100 and $265.

Furla is concentrating on expanding its business in Japan, which doubled between 2003 and 2005 and nu represents 20 percent of total sales. Last year Furla generated sales of €113 million. For this year, the company expects sales of €162.9 million. The company just opened its biggest store ever in the Ginza district in Tokyo. The brand currently has 190 directly owned stores and 1,000 points of sales worldwide. Furla also just launched a limited collection of handbags this spring called Giovanna Furlanetto per Furla. The bags cost €300.