Bulgari posts 24 percent increase in 1H sales

The Bulgari Group saw 24 percent sales increase in the first half of the year, including significant gains in watches and jewelry. According to results released by the Italian jewelry house, sales in the first half of 2011 were $795 million, as compared to $643 million in the first half of 2010. Net profit was $13.2 million, a strong recovery compared to the first half 2010 when the group recorded an $11.2 million loss. (Profits also were impacted by the exchange rate hedging implemented by Bulgari.) All of Bulgari’s product categories contributed to the first-half growth. Jewelry sales were up 20 percent while Watch sales grew 26 percent.