Monday, 1 February 2010
Despite this bad news, Bulgari’s CEO, Francesco Trapani, said it’s “reasonable to expect that 2010 will be better than the prior year.”
We read in WWD and the Wall Street Journal that the 5.1 percent decline has been blamed on “heavy destocking in the wholesale channel” and ongoing slow sales in Japan (27.3 percent drop) and the U.S (17.3 percent decline). Although US sales improved in November and December.
All product categories registered sales decreases in the quarter, except the core jewellery business. So it’s not all bad news.
Click here for our recent good news on Bulgari’s watch brand alliance.
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