MILAN — Furla announced on Tuesday the acquisition of Effeuno Srl, a longtime partner company specialized in manufacturing leather goods. The Italian accessories label declined to disclose financial terms of the deal.
Based in Tavarnelle Val di Pesa, a 40-minute drive from Florence, the 53,820-square-foot plant already exclusively produced Furla’s accessories employing over 100 workers and manufacturing two million pieces among bags and small leather goods per year.
The takeover is part of the brand’s strategy to invest in Italy and aims to strengthen the group’s supply chain, boosting the production.
Available in more than 100 countries and carried by 1,200 multibrand and department stores, Furla registered a 23.5 percent increase in sales in the first half of 2017, totaling 238 million euros compared with 193 million euros in the same period in 2016.
In May 2016, after years of speculation, Furla said it had set in motion plans to go public, inking an agreement with TIP Tamburi Investment Partners SpA. The Marzotto, Loro Piana and Ferragamo families are among the investors in TIP, which also has stakes in Hugo Boss and Ferrari. Tamburi had tentatively set the IPO for 2018, but Furla’s president Giovanna Furlanetto recently said the company might postpone such a plan.