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An 18-carat pink gold ring from Bulgari's Bzero1 line which has been performing exceptionally well
An 18-carat pink gold ring from Bulgari's Bzero1 line which has been performing exceptionally well
 










Jewellery helps Bulgari Group profits soar

The Bulgari Group’s net profits skyrocketed 137.8 per cent to €7 million ($9.7 million) in its third quarter to September 30.
Jewellery accounted for 44.5 per cent of Bulgari’s total sales in the third quarter, while watches made up 19.9 per cent.

The jewellery category contributed to the rise in profits with a sales increase of 13.7 per cent against the same period last year, to €119.3 million ($165.3 million).

Watch sales decreased by 10.9 per cent from last year but the report attributed the decline to the fact that the delivery of new products only began in September this year. Last year Bulgari started distributing new products at the beginning of the second quarter.

Bulgari attributed its strong jewellery and watch sales figures to the success of its Bzero1line and its Serpenti jewellery and watch collection.

In October, following the end of the third quarter, sales of watches have improved, showing 6 per cent growth.

Sales performance in the wholesale channel across the month also outperformed directly owned stores, confirming the recovery of this distribution channel after last year’s massive de-stocking.

In response to the spiralling gold prices, Bulgari started to increase its jewellery retail prices at the beginning of October.

More reading:
LVMH watch and jewellery profits trounce Bulgari









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Friday, 23 August, 2019 11:03am
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