The Italian manufacturer Fabi aims to double its sales to €100 million over the next three years thanks to store openings and brand extension deals.

The company closed 2008 with a turnover of €50 million. About 80-90 percent of revenues were achieved in footwear, with the remainder being generated by bag sales and royalties stemming from perfume and jewelery licenses. As previously reported, the company launched the lines Fabi Jewels and Fabi Parfum at the end of last year.

Fabi posted around 40 percent of its sales in Italy and the balance in other countries. The group has 44 single-brand stores, of which six are directly operated, mainly in Italy. The others are in the Middle East and the former Soviet bloc.

The increase in the group’s sales is expected to be accompanied by a doubling of the number of its mono-brand stores, including the opening of at least six outlets by the end of 2010.

Brand extensions could include eyewear and other accessories. The group’s stores already sell apparel, scarves, ties and other items under its own brands – Fabi, Barracuda, Mare and Old Sail – to which could be applied license agreements in the future.

The company is owned by the brothers Elisio and Enrico Fabi. A manager of Fabi rejected speculation that Tod’s or its owners, the Della Valle family, could become shareholders to help finance its development.