LVMH-owned Swiss-Italian jewelry and watch company Bvlgari expects to post an even better fiscal year in 2022 than last year’s record-breaking year.
Jean-Christophe Badin, President and CEO of Bvlgari, said the house is recording double-digit growth rates for both jewelry and watches. “If 2021 was a record year, 2022 will be even better,” he added in an interview published Saturday by the NZZ.
LVMH achieved in the first half of 2022 an organic growth of 16% of its sales carried in particular by its Houses such as Bvlgari: “At Bvlgari, the Serpenti and Bzero1 Classic lines are important vectors of growth while the new collection of Haute Joaillerie and Haute Horlogerie Eden: The Garden of Wonders and its watch collections, including the new Octo Finissimo Ultra watch, set new records.”
However, Chinese measures to combat the Covid-19 pandemic are still a challenge and Bvlgari felt the effects particularly in the second quarter, revealed Jean-Christophe Badin. This is reflected in the majority of closed stores and supply problems. But in the meantime, the situation has improved and many restrictions, for example in civil aviation, have recently been lifted.
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Featured photo : © Bvlgari
