MILAN — Bulgari SpA posted higher than expected first quarter figures, boosted by sales of fine jewelry and the recently relaunched Bulgari pour Femme fragrance.
Net profit for the three months ended March 31 rose 31.5 percent to 23.9 million euros, or $31.3 million. Sales for the period advanced 10.4 percent to 225.1 million euros, or $294.9 million. Bulgari said that sales would have grown 16.4 percent at constant exchange rates.
(Dollar figures have been converted from the euro at average exchange rates.)
“The year started off well and we had a good April,” Bulgari chief executive officer Francesco Trapani said in a phone interview. “Things are going in the right direction.”
Trapani said he does harbor some concerns regarding ongoing currency woes and the high price of gold but he’s optimistic about the state of the luxury market in general.
Europe and Asia excluding Japan registered the highest growth levels for the company while revenue slipped in Japan and the Americas.