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Bulgari Revenue Plummets Across All Regions
(Source: LuxuryBrandNetwork.com)
Citing "the persistence of the worldwide crisis," Bulgari saw significant revenue drops in all geographic regions and across all product categories for the quarter ended 31 March 2009. Net profit swung to a loss of -€29.3 million compared to +€22.8 million during the same period last year. Debt increased to €339 from €304 million. . . . keep reading
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Bulgari Boss Lowers Expectations
(Source: Bloomberg)
Bulgari CEO Franceso Trapani told reporters he expects a first quarter loss and recovery during the second half of the year--but that business will not be as robust as 2007. . . . keep reading
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Bulgari Profit Drops 45% Despite Strong Revenue
(Source: LuxuryBrandNetwork.com)
Despite revenue down just 0.9% compared to the prior year at comparable exchange rates, Bulgari posted a 45.1% drop in net profit due to escalating costs and poor currency bets. For 2008, the company reported revenue of €1.075 billion and net profit of €82.9 million. . . . keep reading
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Bulgari Hits "Nasty" Patch; Japanese Revenue Down 25%
(Source: LuxuryBrandNetwork.com)
After solid performance through September, revenue at Bulgari Group fell 9.8% at constant exchange rates during the all-important fourth quarter. CEO Francesco Trapani admitted that "the nasty economic environment had a strong negative effect on the holiday season's sales." . . . keep reading
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Louis Vuitton Abandons Plan to Build Largest Store in Japan (12/16)
(Source: Nikkei)
Louis Vuitton now says it will no longer pursue plans to build a new flagship store in Tokyo. The Ginza Tower location, to have been completed in 2010, would have been the world's largest Louis Vuitton store at 12,000 square meters (130,000 square feet) and would have rivaled impressive new Armani and Bulgari locations in Ginza. . . . keep reading
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Bulgari Reports Slowdown and Profit Drop
(Source: LuxuryBrandNetwork.com)
Bulgari reported nearly flat revenue (-0.5%) but a steep drop in net profit (-43.7%) for the quarter ended 30 September 2008. For the first nine months of the year, company revenue after currency exchange was up 2.4% with net profit down 22.1%. . . . keep reading
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Luxury Outlook: EXCLUSIVE ANALYSIS
(Source: LuxuryBrandNetwork.com)
Luxury CEOs say the outlook for the fourth quarter and into 2009 is deteriorating rapidly. Even the most optimistic--including LVMH, Coach and Burberry--see growth rates slowing. Current coverage includes: Bulgari, Tifffany, Burberry, Coach, LVMH, Hermès, Williams-Sonoma, Liz Claiborne, Hugo Boss, Tod's Group, Ann Taylor and Nordstrom. . . . keep reading
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