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Furla CEO Exits

Furla SpA said Tuesday chief executive officer Paolo Fontanelli has left the company at the end of his three-year contract.

MILAN — Furla SpA said Tuesday chief executive officer Paolo Fontanelli has left the company at the end of his three-year contract.

This story first appeared in the March 31, 2010 issue of WWD.  Subscribe Today.

A spokeswoman for the Italian accessories house said a new ceo will be named within the next two months.

Fontanelli joined Furla in 2007 from Giorgio Armani, where he was ceo. He was recruited to Furla to develop the company and the brand’s image internationally, stepping up the firm’s structure and management.

Under his direction and that of Giovanna Furlanetto, daughter of founder Aldo Furlanetto and chairman of the family-owned company, Furla has grown its retail network to 320 stores from 255, including flagships in London and Barcelona. A flagship is expected to open in Paris, on Boulevard des Capucines, next month, followed by one in Beijing. Also, Furla’s e-commerce site was unveiled at the end of 2008.

Revenues for 2009 are not available yet, but the spokeswoman said sales are expected to be in line with the previous year, which closed at 157 million euros, or $230 million at average exchange rate for the period.