Bulgari: Eyewear Contributes To Improved Second Semester Results

After a bad start this year, the Bulgari luxury group's hopes are high for the second semester.
In the first quarter of 2002, the designer name's fall in net profits was 60% worse than expected.

Company executives expect the situation in the luxury market to remain difficult until July but the prospects should be more encouraging after this date. According to Francesco Trapani, the group's CEO, the Roman brand is still very solid primarily because of its good performance in some areas, such as eyewear (Luxottica), fragrances and jewelry.

Watch sales are the weakest branch of the company. Bulgari has problems with third-party retailers and their aggressive discount policy. The results are better from its own-brand designer stores.