Press Releases
Bulgari: sales continue to grow in the first half of 1999. Turnover up by 22%
Rome, July 29, 1999 -Bulgari, the contemporary Italian jeweller, announced in Rome today interim turnover* of Lira 365.3 billion (189 million Euro), an increase of 22% (exchange rates variations account for 2%) over the same period last year (1998: Lira 300 billion; 155 million Euro), testifying once more strong growth rates.
The Group enjoyed significant growth rates in the watch and perfume as well as in the accessory categories, the latter having only been introduced in 1998. Excellent results have been obtained in Japan where sales increased by 44%, and in the Middle and Far East (excluding Japan) with growth rates of 42%. With an increase of 18% also the Americas performed very well. In Europe growth (+3%) was less significant due to less positive economic conditions and the Balkan crisis. New stores such as Mexico City, Brussels, Nassau and Manila have been opened since beginning of the year taking the total number of stores from 78 to 88.
Bulgari continued to enlarge its range of products by presenting Goccia, Astrea and Corona, a collection of rings and pendants in gold and precious stones. To complete the important ladies' watch segment, the new Ovale line has been introduced. Furthermore, the first Home Designs collection - a complete line of porcelain products, crystal stem and barware and silver flatware - was launched, following the license agreement signed with Rosenthal (Waterford Wedgewood Group). A bath line was launched for the Black fragrance.
Commenting on the announcement, Bulgari's C.E.O., Francesco Trapani, said: 'The results of the first half of 1999 are very satisfying. Particularly interesting is the recovery of Hong Kong and Singapore, while Japan maintains a very good performance. With the opening of new stores all over the world we continued our intense expansion strategy also in the first six months of the year'.
*unaudited results
For further information:
Francesca Zanoni, tel. +39-06-688 10 594