BULGARI ON TRACK: Despite the luxury goods downturn, Bulgari is going ahead with its hotel project, having found a location in Milan, sources said Wednesday. The first hotel, in a joint venture with Marriott International Inc., is scheduled to open here by the end of 2003, with a 50-room capacity. Sources said Bulgari has eyed a stately building behind the Scala theatre and a few steps away from the artsy Brera district and that the investment of $5.2 million will be split in half by the two partners. A Bulgari spokeswoman had no comment. When the joint venture was announced last year, the partners said they were going to open 10 hotels in the next five years for an investment of $613 million, with the first two hotels expected to open in 2003.
A PEEK IN WARNACO’S WINDOW: Among those who received interim professional fees in The Warnaco Group bankruptcy last month were Sidley Austin Brown & Wood, Warnaco’s bankruptcy counsel, $2.2 million, plus $144,986 for expenses; and Skadden, Arps, Slate, Meagher & Flom, special counsel to Warnaco, $2.6 million, plus expenses of $356,364. The fees were awarded last month but information was not immediately available. Warnaco has the exclusive right to file a plan of reorganization through May 8, 2002.
FINANCIAL FLATTERY: David Yurman and Esposito Jewelry Inc. have settled their dispute over copyright infringement, with Esposito agreeing to cease production and destroy “look-alike” products. According to Yurman, the settlement includes a “substantial monetary award” to Yurman Designs Inc., but the amount wasn’t disclosed. Yurman sued Providence, R.I.-based Esposito in March 2000 in Manhattan federal court.