Bulgari to open 300th boutique this year
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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.
Questions & Answers
Q.What are Bulgari's growth expectations for this year?
What are Bulgari's growth expectations for this year?
Bulgari is expecting double digit growth in 2015. The CEO stated they had a very good start to the year and anticipate performing better than in 2014.
Q.How many boutiques does Bulgari expect to have by the end of this year?
How many boutiques does Bulgari expect to have by the end of this year?
Bulgari expects to end 2015 with as many as 312 boutiques globally. This follows from having 290 stores at the close of 2013, aiming to surpass 300 this year.
Q.How does Bulgari rank in size compared to other luxury jewellery brands?
How does Bulgari rank in size compared to other luxury jewellery brands?
Bulgari is ranked third in size among luxury jewellery brands. It sits behind Cartier and Tiffany in the market.
Q.What are the estimated annual sales for Bulgari?
What are the estimated annual sales for Bulgari?
Analysts estimate Bulgari achieves annual sales of between 1.5 billion and 2 billion euros. LVMH, its parent company, does not disclose specific trading figures for individual brands.
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