Bulgari is investing more than ever in China, aiming to tap in to the growing reluctance of Chinese shoppers to buy abroad due to security fears, stricter customs checks and a devaluation of its currency.
The world’s third-largest watch and jewelry brand, part of luxury goods powerhouse LVMH, plans to open two boutiques in mainland China this year, Bulgari’s CEO said, on top of three last year.
"If you see there is a potential swing with more mainland and less travel proportion, it’s one more reason to speed up your mainland investments," Bulgari Chief Executive Jean-Christophe Babin told Reuters at the World Economic Forum in Davos.