Tuesday, 4 August 2009

Bulgari’s Down But Not Out – 4/8/09

Despite Bulgari recently reporting that their second-quarter sales were down 20.5 percent versus last year, there have been vast improvements since the first quarter.

Bulgari’s Chief Executive, Francesco Trapani, said in a Reuters article, he expects “a continuous improvement” in the upcoming months.

Although Bulgari's retail sales have started to increase, their wholesale business seems to be their Achilles heel, leading to overstocks in timepieces. This mirrors what is happening at LVMH SA, who announced their second-quarter figures last week (see the MO Down for 30/7).

No comments:

Who's behind the MO DOWN

Melinda O’Rourke is the founder and Director of MO Luxury, a dynamic, Sydney-based management firm specialising in luxury brands and services. Melinda and her associates at MO work with local and international brands across prestige retail, fashion, fine jewellery, timepieces and specialised services. Melinda is well-connected, well-read, and well-versed in the demands of the luxury market and its client base. Her advice is firmly based in objectivity and ultimately, accountability. Melinda offers constructive counsel and both strategic and creative thinking and is able to draw upon a strong network of specialised talent to compliment the MO Luxury team as needed. Melinda enjoys excellent industry relationships and is regularly quoted in the business and fashion media. Read more about MO Luxury, www.moluxury.com.au