January 22, 2013

Bulgari, polishing off billionaires

Bulgari Serpenti Rachel Weisz

After Bulgari  has been among the billionaires’ elite since 2001, Forbes estimates that by March this year, for the issuing of its famous list, brothers Paolo and Nicola Bulgari – chair and co-chair to the company – are to both join the billionaires’ ranks. The publication is assessing the value of each of the two to be rounding up at about USD 1.5 billion.

Bulgari’s financial fortunes are, partially, attributed to the 2011 transaction having seen LVMH buy into the Italian house through the EUR 4.3 billion worth trading of 50.4% of Bulgari for 3.6% of LVMH. In order to cash in on the group’s stocks appreciation, in no small reason due to Bulgari’s activities and prestige, the house’s management has decided to sell for a profit 1.2% of LVMH’s shares, reducing their participation from the initial 3.6% to 2.4%. A move that appears to have had a positive impact on the tradition jeweller.

Bulgari

Bulgari, with roots going back to its 1800s founder, Greek Sotirios Voulgaris’, craftsmanship, today under family CEO Francesco Trapani, is famous, above all else, for its opulent sapphire jewellery, but also for its watches, accessories and perfumes.

Starting 2001, following a joint venture with Luxury Group, the high end division of Mariott International, Bulgari has also branched out into the hotels business: Milan, Bali, London and, scheduled for 2015, Shanghai.

Hilary Swank and Adrien Brody were among the guests to last week’s reopening of the Bulgari boutique in Hong Kong, while the Italian’s most recent campaign, for the Serpenti Eternal Beauty collection, is starring the beautiful and talented Rachel Weisz.

 

Photo sources: theessentialist.blogspot.com, polyvore.com