HONG KONG Feb 1 Italian premium leather goods
and fashion accessories retailer Furla has teamed up with Hong
Kong-based Fung Holdings (1937) Ltd to distribute its products
in China, Hong Kong and Macau with immediate effect, aiming to
open over 100 boutiques in the next four years.
Fung Holdings (1937) Ltd, a privately held business entity
controlled by the Fung family, is the parent of global supply
chain manager Li & Fung Ltd.
Furla said it would hold a major stake in the venture. It
gave no dollar value.
Founded by Aldo Furlanetto in 1927 in Bologna, Furla
distributes its products to 71 countries through 320 single
brand boutiques, 1290 points of sales in department stores and
Despite slower economic growth in China, the mainland market
remains a darling to many luxury brands.
British luxury brand Burberry, which was one of the
first major brands to warn about worsening trading conditions in
China in September, said last month that consumer sentiment
there had improved.