Strong sales help BVLGARI cut losses
Growth in all product categories except watches as well as increasing sales in the U.S. and China helped Italian jeweller BVLGARI cut its losses in the first half of 2010 to EUR 7,7. This compares with a net loss of EUR 40,5 million for the same period last year. In the first half of 2010, sales rose 11.8% to EUR 443,3 million.
Sales of jewellery, the group’s core business rose 14.8% accounting for 45.7% of revenues. Fragrances sales advanced 16.1%, while accessories sales rose 25.2%. An exceptional performance has been registered by the sales of its handbags in its directly operated stores, sales increasing by 42%.
Sales by region highlighted the weak European and Japan markets which grew just by 1%, in contrast with US where BULGARI’s sales jumped by 53.4% and in China with a sales growth of 29.7%.