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Bulgari
Bulgari

Bulgari’s 2010 jewellery sales soar

The Bulgari Group has recorded an increase in jewellery and watch sales for 2010, following the announcement of its acquisition by LVMH.
Jewellery sales jumped 21.4 per cent from 2009 to €488.5 million ($695.6 million) in 2010 while watch sales increased a marginal 1.3 per cent against the previous year to €214.9 million ($306 million). 

The group’s net profits rocketed 180.7 per cent from 2009, turning  its 2009 loss of €47.1 million ($67.1 million) into a profit of €38.1 million ($54.3 million) in 2010. 

Bulgari’s overall turnover increased as well, with a 15.4 per cent jump from 2009 to €1.69 billion ($2.41 billion). 

The group attributed the strong 2010 performance to creative product development activity, competitive product offerings and a successful year for all product categories. 

Bulgari Group chief executive Francesco Trapani said, “The 2010 financial results show how the company was able to brilliantly overcome the economic slump, reaping the benefits of the efficiency and cost containment strategy and therefore becoming more solid.”

He forecast an even better 2011 after sales results in January and February this year came in at 25 per cent higher than the same period last year. 

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