Known for transforming the family business Bulgari into a global leader in jewelry, Francesco Trapani passed away at his home in Rome on September 10, at the age of 68. He was the great-grandson of the founder of the Roman jeweler Bvlgari, Sotirio Bulgari, and took over the company in 1984 at the age of 27.
Italy mourns the loss of one of its charismatic business leaders with the passing of Francesco Trapani, who has been the subject of numerous tributes, foremost among them that of current CEO Jean-Christophe Babin.
A graduate of the University of Naples in business economics, Francesco Trapani specialized in business administration at New York University before joining the family business in 1981 as assistant to the CFO.
In thirty years, he transformed the historic Roman jeweler into a leader in luxury goods. This change in scale was made possible by a vast diversification plan in watchmaking, as well as in perfumes and accessories, before entering the high-end hotel market. The company also benefited from its listing on the Milan Stock Exchange in 1995.
Under the leadership of Francesco Trapani, the jewelry house grew from €25 million in revenue with five stores and 80 employees in 1984 to €1.5 billion, 300 stores, and 4,000 employees twenty-seven years later.
When LVMH acquired the Roman gem in 2011, it was valued at €4.3 billion. Following the acquisition of the company by the world’s leading luxury goods group, Francesco Trapani oversaw the integration of the Maison into the group, while heading up the group’s watch and jewelry division until 2014.
In early 2014, Francesco Trapani joined the Italian investment fund Clessidra, becoming its chairman. Three years later, he decided to leave to embark on a new jewelry adventure as a member of the board of directors of Tiffany & Co.
When the sale of the American jeweler to the LVMH group was announced at the end of 2019, he resigned. He then reappeared with several investment funds, such as Bluebell Capital Partners, Tages Group, and VAM Investments.
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Featured photo: DR
