BVLGARI confirms full recovery
Italian luxury jeweller Bulgari saw its sales soar in the fourth quarter, led by strong sales of its jewellery and accessories and a recovery in its watch sales. Bulgari achieved sales of €357.8m in Q4, up 20.5% at current exchange rates against the same period last year, and managed to improve on the strong three quarters that preceeded it. In the financial year 2010 the Group posted a turnover of €1,069m.
Bulgari’s jewellery sales shot up by 28.3% to €166.7m, led by its basic segment, which excluding the “significant but volatile” contribution of the high-end segment, rose by 36%. It’s watch sales recovered after three weak quarters, positively impacted by the introduction of the Sepenti, Bulgari Roth and Genta collections. Watch sales increased 7% to €73.5m. Sales of accessories rose by 31.4% to €27.3m.
The Group’s sales figures showed a “definite recovery” in all areas geographically, confirming reports of renewed health in the luxury sector. European sales increased 8.4% to €130.7m , in America by 10.3% to €45.2m, in the Middle East/Other segment by 13.9% to €21.9m. Asian sales continued to show the most strength, increasing 37% to €160m. Japan continued to show improvement, increasing by 24.9% to €63.1m , while sales in China rose 47.3% and sales in the Rest of Asia rose by 48% to €96.9m .