Furla signs watch licensing deal with Timex
Five months after closing a deal with Mavive to launch a line of fragrances, Furla has announced a new watchmaking partner. Owned by its founding family, the Furlanettos, the Italian luxury leather goods brand has signed a licensing deal with U.S.-based Timex Group for the production and international distribution of Furla watches, starting February 2020. The label's watch collections were previously handled by Italy's Morellato Group.
"This confirms Furla's positioning strategy as a lifestyle brand by diversifying its offer and strengthening its product categories through key licensing agreements with high-standing international partners," said the brand in a release, explaining that the watches produced by Timex will reflect "Furla's joyful elegance, passion for colour and longstanding Italian heritage."
The brand has not revealed the licensing deal's duration but confirmed to FashionNetwork.com that it is a "long-term partnership." The first collection made by Timex will be available in Furla boutiques, a selection of specialised stores and department stores, as well as on certain e-commerce websites from September 2020. Pieces will be priced between 129 and 390 euros.
Middlebury, Connecticut-based Timex operates a dedicated luxury division in Switzerland and boasts a license portfolio including the likes of Missoni, Versace and Salvatore Ferragamo.
Following six years of strong double-figure growth, Furla saw its sales slow in 2018. The Italian brand, which is focused on accessible luxury, reported annual revenues of 513 million euros, up 2.8% (5.2% in constant currencies) compared to the previous year.
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