Bulgari Sees Sluggish Profit Growth, Hindered by Currency, Japanese Market
MILAN — Bulgari SpA saw slowing growth in the fourth quarter as it battled currency woes, tough comps and weakness in the Japanese market. But the company said it’s on track to post profit and sales growth for the current year....
MILAN — Bulgari SpA saw slowing growth in the fourth quarter as it battled currency woes, tough comps and weakness in the Japanese market. But the company said it’s on track to post profit and sales growth for the current year.
Bulgari’s fourth-quarter sales rose four percent to 323.6 million euros, or $417.44 million, lower than some analysts’ forecasts. For the year ended Dec. 31, 2006, sales rose 10 percent to 1.01 billion euros, or $1.27 billion. (Dollar figures have been converted from the euro at average exchange rates for the period to which they refer.)
Meanwhile, the jeweler announced that it will launch a women’s skincare line this year. Distribution will start in Italy this fall and will be rolled out to other countries over the coming years.
For complete coverage see tomorrow's issue of WWD.
Breaking: @cushnieetochs’ co-founders @carlycushnie and @ochsmichelle are parting ways. After a 10-year run, Ochs is leaving the brand. Get the full story on WWD.com – link in bio. #wwdnews #wwdfashion
@maybelline’s Kanako Takase had snow bunnies in mind when creating the beauty look for @philipppleininternational. Playing off of the bedazzled snowboards in the collection, Takase mixed two highlighters together for a luminous sheen. #wwdbeauty #nyfw (📷: @jilliansollazzo)
“There’s a huge gap between the old way of doing things and today. It takes the youth to help evolve that. You have to count on the kids today to help lead you into the future. A lot of these retailers are stuck in the past. Communication is the biggest thing,” said @ronniefieg of @kith on the youth’s role in retail. On Monday night, Jeff Staple moderated a keynote session with Fieg and @syresmith at Assembly - a series of workshops, talks and keynotes addressing topics or issues in the apparel industry. Head to WWD.com to read more advice from Fieg and what Smith thinks of his dad @willsmith’s Instagram account and sustainability (📷: @weston.wells)
@joansmalls closed the @michaelkors fall 2018 show in black sequined pants and a varsity T printed with 19 on the front and 81 on the back. 1981 – the year Kors went into business. #wwdfashion #nfyw (📷: @giovanni_giannoni_photo)
“You think your life is going to be a certain way, and nothing you thought would happen ends up happening. Never in my wildest dreams did I think I’d be designing clothes and working with Mickey Drexler, and building something I’m deeply proud of,” said Jenna Lyons. Nine months after leaving @jcrew, Lyons is exploring the meaning of happiness. Read the interview, where Lyons talks about reinvention and more on WWD.com – link in bio. #wwdfashion (📷: Farrell) #jennalyons #jcrew