Press Releases
Bulgari: net revenues up 32% in the first half of 2001
Rome, July, 30 2001 - Bulgari, the contemporary Italian jeweller, announced today in Rome interim turnover of 359 million Euro, showing an increase of 32% (exchange rate variations account for about 2%) versus the same period of last year (2000: 272 million Euro).*
In the first six months of the year, turnover increased in all major markets. Growth was particularly strong in the Middle East (+82%), in Italy (+54%) and in the Far East (+34%) and Europe (+35%) as well as in Japan (+28%); while the United States grew (+6%) even if to a lesser extent. Furthermore, sales increased in all product categories. Growth was particularly strong for accessories (+85%) and perfume (+48%). Very good results were obtained in the jewellery (+36%) and watch segment (+20%).
During the first semester new Bulgari stores, mainly within the travel retail area, were inaugurated while stores in Paris, Tokyo Ginza and New York Madison Avenue were refurbished.
Francesco Trapani, Chief Executive Officer of the Bulgari Group, commented: "I am very satisfied with the results obtained in this first semester of 2001 with a growth of over 30%, following the already excellent results of the previous year and despite the not very positive macroeconomic conditions. These results allow me to be positive for the second half of the year, where we will be presenting two new important products which we expect to be very successful: Lucea, a new jewellery line and the new fragrance BLV Homme. Furthermore, it is important to underline the positive performance of the jewellery segment rewarding us for the investments realized in this product category".
In the month of July the acquisition of Bulgari Korea Ltd was finalized, thanks to a subscription of a capital increase of 51%, that should allow to further strengthen this interesting market in the next future.
BULGARI GROUP GROWTH PER GEOGRAPHIC AREA
| 1 Q 2001 | 2 Q 2001 | 1 H 2001 | |
|---|---|---|---|
| ITALY | +85% | +33% | +54% |
| EUROPE (EXL. ITALY) | +31% | +37% | +35% |
| AMERICA | +14% | -1% | +6% |
| JAPAN | +29% | +28% | +28% |
| FAR EAST | +25% | +44% | +34% |
| MIDDLE EAST & OTHERS | +95% | +71% | +82% |
| TOTAL | +35% | +30% | +32% |
| Fonte: Bulgari SpA |
BULGARI GROUP BREAKDOWN PER GEOGRAPHIC AREA
| 1 Q 2001 | 2 Q 2001 | 1 H 2001 | |
|---|---|---|---|
| ITALY | 14% | 13% | 14% |
| EUROPE (EXL. ITALY) | 23% | 27% | 25% |
| AMERICA | 18% | 15% | 17% |
| JAPAN | 21% | 23% | 22% |
| FAR EAST | 17% | 16% | 16% |
| MIDDLE EAST | 7% | 6% | 6% |
| TOTAL | 100% | 100% | 100% |
| Fonte: Bulgari SpA |
BULGARI GROUP GROWTH BY PRODUCT CATEGORY
| 1 Q 2001 | 2 Q 2001 | 1 H 2001 | |
|---|---|---|---|
| JEWELLERY | +25% | +46% | +36% |
| WATCHES | +30% | +11% | +20% |
| PERFUME | +66% | +34% | +48% |
| ACCESSORIES | +97% | +76% | +85% |
| ROYALTIES & OTHERS | +2% | +68% | +36% |
| TOTAL | +35% | +30% | +32% |
| Fonte: Bulgari SpA |
BULGARI GROUP BREAKDOWN BY PRODUCT CATEGORY
| 1 Q 2001 | 2 Q 2001 | 1 H 2001 | |
|---|---|---|---|
| JEWELLERY | 32% | 39% | 36% |
| WATCHES | 45% | 40% | 42% |
| PERFUME | 16% | 14% | 15% |
| ACCESSORIES | 5% | 5% | 5% |
| ROYALTIES & OTHERS | 2% | 2% | 2% |
| TOTAL | 100% | 100% | 100% |
| Fonte: Bulgari SpA |
* Non audited results. First semester results will be approved by the Board on September 13, 2001.
For further information: Renata Casaro - Tel. +39.06.68810467