Bulgari set for “double-digit growth” in 2015

Accessories, jewellery and watch brand Bulgari is set to grow by two digits in the coming months, as advanced by the luxury label’s chief executive Jean-Christophe Babin. To achieve this level of growth, the French house will surpass the 300 boutiques in 2015.

"We had a very good beginning of the year, so all else remaining equal, we think that we will do better this year than in 2014 with a double-digit growth rate,” said Babin in an interview with news agency Reuters.

Babin said Bulgari, which dominates LVMH's watch and jewellery business in terms of sales, was one of the fastest growing brands in the LVMH group, which comprises more than 60 labels.

Hence, Bulgari is confident of double-digit sales growth in 2015 on a like-for-like basis, the head of luxury group LVMH's biggest watch and jewellery business further explained.

On a related note, the brand, part of the LVMH luxury empire, is likely to have around 312 boutiques by the end of 2015, up from 290 at the end of 2013, said its chief executive Jean-Christophe Babin.

With sales estimated between 1.5 and 2 billion euros, Bulgari is the world's third largest watch and jewellery brand behind Richemont's Cartier and Tiffany.

LVMH does not publish actual growth rates for individual brands. However, in his interview with Reuters, Babin recalled that Bulgari had been enjoying double-digit sales growth in the past few quarters with solid progress in China, the United States and Japan with "a rebound in the demand from Europeans."