Bulgari to open 300th boutique this year

LVMH’s watch and jewellery flagship brand Bulgari is eyeing double digit growth in 2015, despite the lacklustre global luxury market.

Bulgari expects to surpass 300 boutiques this year, part of a strategy by CEO Jean-Christophe Babin to maintain its position as one of the fastest growing brands in the Louis Vuitton group’s 60-strong stable.

“We had a very good beginning of the year, so all else remaining equal, we think that we will do better this year than in 2014 with a double-digit growth rate,” said Babin in an interview with Reuters.

Bulgari ended 2013 with 290 stores globally and expects to end 2015 with as many as 312.

LVMH does not break down its trading figures by brand, but analysts estimate Bulgari achieves annual sales of between 1.5 billion and 2 billion euros.

It is ranked third in size behind Cartier and Tiffany.