Bulgari CEO sees Chinese consumers fuelling luxury growth as economy improves

Italian luxury fashion house Bulgari plans to add to its network of stores in mainland China as it bets on “significant” sales via its online channels to fuel growth.

“We have already a very strong position in China, but we believe that we have an opportunity to take the brand to a much bigger level,” CEO Jean-Christophe Babin said at the China International Import Expo (CIIE) in Shanghai.

While the maker of watches, fragrances, jewellery and leather goods has seen a slowdown this year, Babin believes the luxury market may recover in the next 24 months as the country’s economy bounces back.

“The online business is resisting much better because it’s covering a much broader base of clients, and it’s growing,” he added. The LVMH-owned brand’s online stores exist on various Chinese platforms including a luxury ‘pavilion’ on Alibaba Group Holding’s Tmall shopping platform. Alibaba owns the Post.

Rome-based Bulgari celebrated its 140th year this year. It first entered China in a 12-square-metre store in 2004. Today it has more than 100 mainland stores covering 40,000 square metres and employs 1,500 people.

The company is committed to expanding its presence in mainland China, which is one of its most important markets.

  

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