Furla CEO Leaves the Company After the Agreement with Tamburi

The chief executive officer of Italian handbag maker Furla is leaving the company after announcing the agreement for the future entry of Tamburi in the capital.

Leeson. 06/05/2016

New change in leadership of a company of the luxury industry. This time has been Furla´s CEO, , who has decided to leave his job in the same week in which it announced the agreement with Tamburi Investment Partners. Poletto has had an eventful history in Furla. In 2010 he joined the firm to lead the international business.

Furla 2
Furla Autumn/Winter 2016. Click to buy

Then he left the company for twelve months to work on the Richemont Group. In 2013 he returned to Furla and since then he began a period of geographical & business expansion to almost double its revenues in that period. Last year, revenues reached €339 million (+30%) with an Ebitda of €44 million and an increase in net profit by more than 40%

Furla 4
Furla Autumn/Winter 2016. Click to buy

Furla reported Monday that Tamburi (which is also a shareholder of Moncler) granted a loan of €15 million in the hand-bags manufacturer which would become shares once Furla listing starts, but without giving a specific date. Thus, it joins to the group of luxury companies that are considering an IPO, like Versace and Valentino.

Furla 3
Furla Autumn/Winter 2016. Click to buy

Regarding Poletto, his plans are unknown so far, although the Italian press (Fashion Magazine) speculates that will become CEO of Salvatore Ferragamo, who’s current CEO Michele Norsa has announced his departure from the firm this year. Furla now has the pressure to find a top executive to keep the bar at the height of what has been achieved by Poletto. Arduous task…

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Furla Spring/Summer 2016

Disclosure: The Luxonomist is not responsible for the views expressed in the article. The text has been written freely expressing their own ideas, without receiving any compensation. The author has no business relationship with any of the companies whose shares are listed in this article.


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