Eraldo Poletto returns to occupy the top management position of Furla, the Italian bag and accessory brand. Within the renewal of the company's board of directors, they appointed him as CEO, a position he had held from 2010 to 2012 and, after a stint at Dunhill, a luxury brand part of Richemont Group, from 2013 to 2016.
Poletto takes over the position of Giorgio Presca, who occupied the CEO role for the last two years.
“We are confident that Poletto will be able to lead the company successfully on the path of consolidation and growth aiming at ambitious goals, consistent with the history and tradition of an Italian brand appreciated worldwide,” commented Gaetano Torrin, chairman of the board of directors .
The new CEO comes from Santoni, where he held the same position for about a year. His resume also includes experiences at Stuart Weitzman (Tapestry Group), where he was CEO and brand president, Salvatore Ferragamo as CEO, and Diesel (OTB Group) as global CEO.
His entry coincides with a delicate phase for the Bologna-based company, founded in 1927 by the Furlanetto family, which reported €154 million in debt to bank creditors and revenues of €336.5 million in 2022, according to Bloomberg. It had already faced Chapter 11 proceedings in 2020 for its subsidiary Furla USA, due to store closures following Covid.
The difficulties related to the pandemic and its aftermath, added to those of the following years, have left their mark. News of the start of formal debt restructuring talks have been circulating since August 2.
“In a highly volatile market environment in the first half of 2024, Furla has considered that access to the negotiated settlement allows it to conduct in the most appropriate framework a negotiation involving exclusively its financial creditors,” says a note issued by the company.
The statement also informs that the company has formalized its commitment of €25 million to support the ongoing transformation and transition process.
READ ALSO:
