mobanmarketThe Italian Bulgari Group is expanding its presence as a purveryor of luxury accessories with a number of acquisitions. It has recently purchased a 51 percent stake in the Swiss firm Prestige d’Or S.A., a leader in the production of steel and precious metal watch straps, and also acquired the Italian firm Pacini, which is now called Bulgari Accessori S.rL, and produces leather, reptile and custom-made fabric handbags.
These acquisitions will enable the Group to continue developing its accessories business, which, with a 35 percent increase in sales, performed outstandingly in the first half of 2005.
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Next in line in the expansion strategy is the opening of the first Bulgari store fully dedicated to accessories. The store will open in the Japanese department store Shinsaibashi Sogo in Osaka at the end of November and will be next to the jewellery and watches store which Bulgari opened there last month.
The Group is partly privately held, with the Bulgari family holding approximately 52 percent of the share capital. The remaining 48 percent was floated on the Milan Stock Exchange.