Buccellati opens new store in Macau’s MGM Cotai Mall
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Buccellati Macau has opened a store at the new MGM Cotai Mall as a step forward in its global expansion.
This follows the acquisition of 85 per cent shareholding of the Italian jewellery brand by China’s Gansu Gangtai Holding last year, and the opening of several stores in China, including its first boutique at Plaza 66 in Shanghai.
Buccellati plans to open 88 stores in the next five years, 18 of which will be in Chinese cities.
Founded in Milan in 1919, the brand is known for its traditional engraving techniques and Italian Renaissance-inspired designs. Buccellati also has stores in Japan, Europe and the US.
Questions & Answers
Q.What is the strategic significance of the new Macau store opening for Buccellati?
What is the strategic significance of the new Macau store opening for Buccellati?
The Macau store represents a step forward in the brand's global expansion plans. It follows a significant acquisition and the opening of several other stores in China, indicating a focused growth in the Asian market.
Q.How many new stores does Buccellati intend to open in the near future and where will the majority be located?
How many new stores does Buccellati intend to open in the near future and where will the majority be located?
Buccellati plans to open 88 new stores over the next five years. A significant portion of these, specifically 18, are scheduled to be opened within Chinese cities, indicating a strong focus on that region.
Q.What is Buccellati's connection to China and how recently did this relationship begin?
What is Buccellati's connection to China and how recently did this relationship begin?
Buccellati is now 85 per cent owned by China's Gansu Gangtai Holding, an acquisition that occurred last year. This has led to an increased presence, including its first boutique in Shanghai and the new Macau store.
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