- Don-Alvin Adegeest |
Luxury Italian jeweller Bulgari is to expand its Hotel and Resorts division, which to date counts six locations in its portfolio.
The company, which is part of the LVMH group of brands, is planning to open 15 new hotels including Paris in 2020, Moscow 2021 and Tokyo 2022.
Bulgari's CEO Jean-Christophe Babin in an interview in Affari & Finanza stated the company is ready for expansion: "The long apprenticeship of these years has allowed us to continue to grow both in terms of occupancy, despite the market has been enriched by numerous competitors."
Bulgari currently operates hotels in Milan, London, Bali, Beijing, Dubai and Shanghai.
For its watch division Bulgari last year launched several new successful models, including new ladies’ watches Serpenti, B.Zero1 and Diva, and new Octo models for gents.
LVMH saw double digit growth of its Watch and Jewelry Division, increasing 10 percent in 2017 (+12 percent with comparable structure and exchange rates), from 3,468 million to 3,805 million Euros.
Photo credit:Bulgari watches, source Bulgari website