Bulgari to Open Two New Boutiques in China
Italian luxury brand Bulgari has announced its plans to open two new boutiques in mainland China.
According to the plans, the stores will open this year, adding to the brand’s four existing outlets in China.
“If you see there is a potential swing with more mainland and less travel proportion, it’s one more reason to speed up your mainland investments,” Bulgari Chief Executive Jean-Christophe Babin told Reuters.
With annual sales estimated between 1.5 and 2 billion euros, Bulgari is the third most successful jewellery brand in China,behind Richemont’s Cartier and Tiffany.
”More than ever it makes a lot of sense for Bulgari to invest in China,” said Babin. “Chinese consumers, whether shopping at home or abroad, make up more than 30 percent of sales of Swiss watches, and are notorious lovers of luxury goods in general.
Founded by Sotirios Voulgaris in 1884, Bulgari has grown to become one of the world’s most iconic fashion and jewellery brands.