Bulgari CEO forecasts Europe to remain difficult


The company plans to open up to 20 new stores in greater China.

Bulgari chief executive Francesco Trapani said on Wednesday he could not predict when sales would return to pre-crisis levels, as reported by Reuters.

Trapani forecast that Europe would remain a difficult market in the medium term when he spoke at the Reuters Global Luxury Summit in Paris, claiming the impact of government austerity measures on discretionary spending in Europe would only be fully felt in 2011.

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“We have to expect for Europe a medium-term period during which things will be difficult,” Traoani told reporters.

“We are pushing growth in Asia because it is in Asia we are seeing the growth."

The store plans to open 15 to 20 stores in greater China over the next three to four years, an average of about four to five stores annually. The luxury brand, still 51 percent family-owned, currently owns 35 monobrand stores in the region.

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