Italian luxury fashion brand Bvlgari plans to add to its mainland China store network as it bets on “significant” sales from online channels to boost growth.
“We already have a very strong position in China, but we are looking to take our brand to an even greater level,” CEO Jean-Christophe Babin said at the China International Import Expo (CIIE) in Shanghai. I believe we have a chance to improve.”
The watch, fragrance, jewelry and leather goods maker has seen a slowdown this year, but Babin believes the luxury goods market could recover over the next 24 months as the country’s economy recovers. .
“Online businesses cover a much wider customer base and are growing, so they are much more resilient,” he added. The LVMH-owned brand’s online stores are present on various Chinese platforms, including the luxury “Pavilion” on Alibaba Group Holding Ltd.’s Tmall shopping platform. Alibaba owns the Post.
Bvlgari, headquartered in Rome, celebrates its 140th anniversary this year. The company first entered China in 2004 with a 12 square meter store. Currently, there are more than 100 stores in mainland China, covering an area of 40,000 square meters and employing 1,500 people.
The company is working to expand its presence in mainland China, one of its most important markets.
02:09
Young Chinese people abandon consumerism in favor of enriching experiences
Young Chinese people abandon consumerism in favor of enriching experiences
