2023 was best ever year for Bulgari in India, and 2024 looks even better: CEO Jean-Christophe Babin
luxury fashion house Bulgari saw its best-ever sales performance in India in 2023 and this year looks even better with robust demand for its jewellery products, Jean-Christophe Babin, CEO, told ET in an interview.
Babin said the opening of the Jio World Plaza, a luxury mall in Mumbai, has delivered “very good” results for Bulgari, which rolled out India-inspired creations such as the Mangalsutra and the B.zero1 Kada bracelet.
“While Indians love our Serpenti watch, we have thought of creating jewellery that resonates better with Indian hearts. Indians are deeply rooted in their tradition and culture,” Babin said.
“We are probably the only global jeweller to have Indian products such as the Mangalsutra and the Kada. The Mangalsutra got sold extremely quickly. Now we have had to re-manufacture it. But it’s always sold out at the stores. It's always on waiting lists. We are also selling this to non-Indians because they see the beautiful aesthetic from Bulgari. The kada was created for Indians, as we see a strong tradition of men wearing jewellery here, but we think it will be a success outside India too,” he added.
Bulgari is planning to grow its presence in India by opening more boutiques in Bengaluru, Hyderabad and Mumbai. It is also looking to expand its footprint from the current 12 stores in six cities to about 20 stores in at least a dozen cities through multi-brand partners.
Babin however pointed out that the biggest hindrance for luxury brands to expand in the Indian market is the dearth of quality retail
