Furla CEO Giorgio Presca Maps Out Brand Steps
MILAN — Following the unveiling of the Unica Furla Earth limited-edition bag during Milan Fashion Week, and six months after taking on the role of chief executive officer of the Italian accessories brand, Giorgio Presca is mapping out the next steps, enthusing about the latest accessory.
The bag was introduced at Milan’s Triennale museum and is billed as the first Made in Italy bag in biodegradable leather. It follows a circular production model and the materials are byproducts of the food industry, vegetable tanned with wastewater from oil production, said Presca, in his first exclusive interview.
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Beeswax or specific salts are used for the finishings on the crossbody model, available in a palette ranging from pink to green, as well as black and white. The style is a reinterpretation of a ‘90s Furla bag, reflecting the consistency of the brand, which Presca underscored.
The Unica Furla Earth bag was unveiled in the presence of Irina Shayk, who fronts images and a video lensed by photographer Koto Bolofo.
Furla‘s owner, Giovanna Furlanetto, has long been experimenting with sustainable production processes and Presca was quick to praise her entrepreneurial spirit, her strategy in defining the democratic brand, offering quality, Made in Italy bags at an accessible price “with a glamorous use of color,” and for creating an impressive global retail network over the years.
“Her book ‘A String of Pearls’ is fascinating, and she clearly expresses her vision there. There is a mission, a purpose. She is an extraordinary entrepreneur and very realistic,” said Presca, who joined the Bologna-based company from Clarks, where he was CEO. Furla has “always been very clearly positioned, retailing at between 300 and 500 euros.”
He previously held the role of CEO of Golden Goose, Geox and Citizens of Humanity through his 30 years in the fashion industry, starting at the now-defunct giant manufacturing company GFT. He has also held executive positions at brands including Diesel and Levi’s.
He succeeded chief operating officer Devis Bassetto, who also temporarily held the position of CEO at Furla after the exit of Mauro Sabatini in April 2022.
“Furla is a brand that has an exceptional past, with a stellar positioning in one of the most difficult markets and a strong brand awareness in key markets such as Japan and China,” Presca said. “I am passionate about the brand and my goal is to revisit its strong cornerstones in a contemporary way but in line with its heritage.”
He admitted that the COVID-19 pandemic impacted the performance of the brand given its strength in China, but said that revenues in 2022 show more than 10 percent growth compared with 2021, “with a more than proportional impact on earnings before interest, taxes, depreciation and amortization,” Presca said.
Full year-end figures have not been approved and audited yet, so the latest available refer to the first half of 2022, when sales amounted to 155.3 million euros, boosted by a strong performance in North America and in the Europe, Middle East and Africa area. In 2021, revenues totaled 305.8 million euros, up 7.6 percent compared with 2020, as reported.
At the time of Presca’s arrival at the company, Furlanetto said the appointment signalled “the family’s willingness to continue with the full control of our business and lead it into the future.” She characterized Furla as “a real democratic brand, the only Italian brand in its category.”
The comments were made after several sources speculated that the Furlanetto family was considering a sale of a stake in the company, tapping Lazard as its adviser.
In 2016, owner Giovanna Furlanetto set in motion plans to take Furla public, but this project never materialized. Furla was founded in Bologna in 1927 by Aldo Furlanetto, Giovanna’s father.
Asked about any potential development, Presca said the intention was for Furla to remain a private company. “I was tasked not with a sale but to strengthen the company with a strategic plan.” Nor is the family looking at an IPO, he added.
Presca, speaking from the Milan showroom and ahead of a planned trip to Japan and China, is aiming at upping the ante in Furla’s story telling, in its communication, assortment, service and visual merchandising. “The product alone today is no longer enough to build business. The world has changed,” he explained, citing the impact of social media, too.
He is also redefining the Furla woman, after so much general attention was paid to Gen Z and streetwear. “I am convinced we must be loyal to our brand and our customer, while being innovative. Problems arise when rather than putting the real consumer at the center, one follows the consumer that is trendy at the moment. It is important to give a very clear direction,” Presca said. Furla’s customer, he thinks, is an “elegant working woman, who follows fashion but is also interested in culture and art.”
The executive was pleased with the reaction to the first ad campaign launched under his watch, for spring 2023. “It was well-received, we got a good feedback,” he said.
Presca said it was important to stage the ad campaign “taking us on an idyllic holiday set in an Italian villa in Alassio on the Mediterranean.”
It features Italian DJ and producer Anfisa Letyago, and is lensed by American filmmaker and director Belle Smith, offering a dynamic, colorful and joyful mood.
There is also a focus on footwear in vivid hues and on eyewear. Presca said the goal is to add more accessories to Furla’s offer. “Shoes have an incredible potential,” he said. Men’s accessories are not an immediate priority but one of the next steps, he added.
With the ad campaign, Furla is supporting “She Is the Music,” the nonprofit organization founded by Alicia Keys in 2018, which funds training courses for the new generation of female music producers. Starting in February, Furla will give a chance to upcoming female DJs to play during in-store events and encourage them to produce dedicated retail store playlists, which will be available on Furla’s new Spotify channel.
Fabio Fusi, who joined in 2010, remains creative director of Furla, and Presca said he found “strong talent” in the design team.
Furla has 438 stores, of which 262 are directly operated. In Japan alone, one of the main longtime markets for the brand, there are 94 directly operated points of sale.
The locations are also key, noted Presca, citing the boutique in London on Regent Street, Milan’s store near the Duomo cathedral and the sprawling unit in Rome near the Spanish Steps.
In 2018, Furla took control of longtime producer Effeuno, which is based in Tavarnelle Val di Pesa, a 40-minute drive from Florence. The takeover was part of Furla’s strategy to invest in Italy and to strengthen the group’s supply chain, boosting production.
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