Bulgari Expects to Recover Sales Lost to Virus Within 2 Years

The transcript discusses Bulgari's business strategy amid COVID-19, focusing on hotel openings, e-commerce, and market dynamics. Despite the pandemic, Bulgari plans to continue expanding its hotel business, with several new openings scheduled. E-commerce has grown but remains a small part of sales. The company is concerned about Hong Kong's political situation but sees strong recovery in China and Korea. Supply chain issues have been minimal, and Bulgari is optimistic about future demand recovery.

What is Bulgari's strategy regarding hotel openings despite the COVID-19 pandemic?

• They are focusing only on the Asian market.

• They are closing existing hotels.

• They are continuing with their planned openings.

• They have halted all new hotel projects.

What role does experiential luxury play in Bulgari's future strategy?

• It is only relevant in Europe.

• It is being phased out.

• It is seen as a key growth area.

• It is not considered important.

How has Bulgari's e-commerce performed during the pandemic?

• It has become the primary sales channel.

• It has seen triple-digit growth but remains a small part of total sales.

• It has decreased significantly.

• It has replaced physical stores entirely.

What is Bulgari's main priority for their retail operations post-COVID?

• Focusing solely on the Asian market.

• Reducing their market presence.

• Expanding their network of physical stores.

• Expanding their e-commerce platform.

What is the impact of the geopolitical situation in Hong Kong on Bulgari's business?

• It has had no impact on Bulgari's business.

• It has resulted in increased sales in Hong Kong.

• Mainland China sales have compensated for losses in Hong Kong.

• It has led to a complete shutdown of operations.

How has Bulgari managed its supply chain during the pandemic?

• They switched to local suppliers only.

• Cargo operations continued, ensuring gem supply.

• They faced major disruptions in gem supplies.

• They stopped sourcing gems altogether.

What is the CEO's outlook on the recovery of the luxury market?

• He is pessimistic about recovery.

• He believes the market will recover over time.

• He is unsure about the future.

• He thinks the market will never recover.