Bulgari to Add Stores in China as Jewelry Demand Remains 'Strong': CEO

The transcript discusses Bulgari's market performance, highlighting strong demand in China despite a global slowdown. It addresses the impact of Hong Kong protests on luxury sales, noting that growth in mainland China offsets losses. The future of Hong Kong as a luxury destination is uncertain, but past resilience suggests recovery. Bulgari navigates political sensitivities in China by respecting sovereignty and employing local teams. The transcript also touches on the negative effects of trade wars on the global economy, emphasizing the importance of open markets for economic growth.

What is one reason for the strong demand for Bulgari in China?

• Increased travel retail sales

• Growth of the upper middle class

• Decrease in local competition

• Higher import tariffs

How has Bulgari's growth in mainland China affected its sales?

• It has led to store closures in Europe

• It has decreased overall sales

• It has increased reliance on travel retail

• It has offset the decline in Hong Kong

What is Bulgari's stance on Chinese sovereignty?

• It remains neutral on political issues

• It respects and acknowledges Chinese sovereignty

• It questions China's territorial claims

• It supports independence movements

Why are local teams important for Bulgari in China?

• To reduce advertising costs

• To increase production efficiency

• To understand and respect local sensitivities

• To manage supply chain logistics

What is a general consequence of trade wars according to the transcript?

• They increase global trade

• They lower consumer prices

• They boost consumer spending

• They create consumer uncertainty

How do trade wars affect countries' exports?

• They make exports cheaper

• They increase export volumes

• They reduce export volumes

• They have no impact on exports

What has the World Trade Organization tried to do regarding duties?

• Increase duties to protect local markets

• Eliminate duties to foster economic expansion

• Maintain duties at current levels

• Introduce new duties for luxury goods