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Bulgari

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This article is about the luxury brand. For other uses, seeBulgari (disambiguation).

Bulgari S.p.A.
Company typePrivatesocietà per azioni
IndustryRetail
Founded1884;140 years ago(1884)
FounderSotirios Voulgaris
HeadquartersRome,Italy
Key people
Products
Revenue€1.069 billion(2010)[1]
€85.3 million(2010)[1]
€38.0 million(2010)[1]
Total assets€1.490 billion(end 2010)[1]
Total equity€934.0 million(end 2010)[1]
OwnerLVMH
Number of employees
3,815(end 2010)[1]
Websitewww.bulgari.com

Bulgari(/ˈbʊlɡəri/,[2]Italian:[ˈbulɡari];stylizedasBVLGARI) is an Italian luxuryfashion housefounded in 1884 and known for itsjewellery,watches,fragrances,accessories,andleather goods.

While the majority of design, production and marketing is overseen and executed by Bulgari, the company does, at times, partner with other entities. For example, Bulgari eyewear is produced through alicensing agreementwithLuxottica,and Bulgari formed ajoint venturewithMarriott Internationalin 2001 to launch its hotel brand, Bulgari Hotels & Resorts, a collection of properties and resort destinations around the world.

Currently part of theLVMH Group,Bulgari was founded in the region of Epirus, Greece, in 1884 by thesilversmithSotirios Boulgaris (Greek: Σωτήριος Βούλγαρης, Italian: Sotirio Bulgari) as a single jewellery shop that has, over the years, become an international brand. The company has evolved into a player in the luxury market, with an established and growing network of stores.[3]

Etymology[edit]

a tall blue glass building with angles
BVLGARI's overseasheadquarterswithin theLVMH TowerinMidtownManhattan,seen here with its bluish,gem-shaped, angulated glass facade

Thetrademarkis usually written BVLGARI in the classicalLatin alphabet,and it is derived from thesurnameof the company's founder,Sotirios Voulgaris(Greek:Σωτήριος Βούλγαρης,pronounced[soˈtiri.osˈvulɣaris];1857–1932).[4]

[edit]

The BVLGARI logo was used for the first time in 1934, when its gilded brass letters graced the central doorway of theVia Condottiflagship store.[5]In reference toancient Rome,the "U" was replaced with the letter "V". Since then, thetrademarkis stylized BVLGARI in the classicalLatin alphabet.[4][6]

History[edit]

From its origins through the 1940s[edit]

The Voulgaris were a silversmithing family from theEpirusregion of Greece. Whether or not theVoulgarisfamily ofCorfuand the Voulgaris family of the Italian jewelers Bulgari fromEpirusshare the same paternal line is unclear, but Count Stefanos Voulgaris denied that the Bulgari family of the Italian jewelers family is genealogically related to the Voulgaris family ofCorfu.[7]According to chronicles of theVoulgarisfamily written inVenetianCorfu, the "Voulgaris family ofSaint SpyridonofCorfu"descend from the royal figures of" barbarian "peoples, as Greeks used to call everybody who is not Christianized, from theVolgariver, who "finally settled inMoesianear the Balkan –Haemus mountains, located in Bulgaria",so the founding fathers of this family were described as descendants of PrinceStefan LazarevićandKhan Tervel,"kings of theTriballi,[8]in the 16th century testament of the family, becoming such by taking refugee in theVenetianislandCorfu.[9][10][7]

The founder of the Bulgari brand isSotirios Voulgaris(Σωτήριος Βούλγαρης), who was born inParamythia,in March 1857; he originated from the Greek village ofKalarrytes,which was the largest center forsilversmithingin theBalkans.He was one of eleven children of his father Georgios Voulgaris (1823–1889) and hisVlachophoneGreekmother Eleni Strouggari. In 1881, Sotirios Bulgari moved toRomeand, in 1884, opened his first store on via Sistina 85. In 1888, he marriedAromanianEleni Basio with whom he had six children: Constantine-Georgios (1889–1973), Leonidas-Georgios (1890–1966), Maria-Athena (1891–1976), Sofia (1893–1908), Alexandra (1895–1984) and Spyridon (1897–1932); Leonidas-Georgios is the father of the current chairman of the company,Paolo Bulgari.[11]In 1905, he unveiled theVia Condottishop that would become the company's flagship.[6]In its early years, Bulgari was known forsilverpieces that borrowed elements fromByzantineandIslamic art,combining them with floral motifs. At the time,Pariswas the apex of fashion and creativity, and its trends influenced Sotirio's designs for decades: jewels of the early 20s were characterised byplatinumArt Decosettings while those of the 30s featured geometric diamond motifs—sometimes set in combination with colouredgemstones.Convertible jewels were also popular during the time, and one of Bulgari's major pieces was theTrombino,a small trumpet-shaped ring.

In 1932 Sotirio died, leaving the business to his two sons,Giorgio(1890–1966) and Costantino (1889–1973), who each had a keen interest in precious stones and jewels. During theSecond World War,most new jewellery was crafted out of gold, as gems were scarce, and designs became more natural feeling. As the 1940s came to a close, Bulgari introducedSerpentibracelet-watches.[12]

Bulgari Via Condotti flagship store

1950s and 1960s: Colour revolution and Dolce Vita[edit]

In the 1950s, some of Bulgari best-known clients includedElizabeth Taylor,Anna Magnani,Ingrid BergmanandGina Lollobrigidaas Rome earned a reputation as "Hollywood on the Tiber"with theCinecittà studios.[13]

At the same time, Bulgari went to a new style. Thepost-war boomsaw a return to precious materials, particularly white metals covered in diamonds. In the 1950s, Bulgari launched its first floral brooches—calleden tremblantbecause of their trembling diamond corollas. At the end of the 1950s, Bulgari began to establish its motifs, introducing structured, symmetrical shapes in yellow gold set with brilliant gems—chosen for their colour rather than intrinsic value. Among these multi-hued jewels,cabochoncuts were another innovation. These new pieces were a significant departure from classical Parisian design.

A Bulgari shop inBaku,Azerbaijan

After Giorgio's death in 1966, his sonGianniled the company as co-chief executive with his cousin Marina.[14]Designer and heir to the jewelry legacy, Marina Bulgari, also known as Marina B, passed away on 14 February 2024 in Rome, at the age of 93.[15]

1970s: Eclectic creativity and global expansion[edit]

During the 1970s, Bulgari stores opened inNew York,Geneva,Monte CarloandParis.This era marks the beginning of the Group's international expansion, withGiannias chairman and CEO. A number of new motifs made their debut as well—jewels became recognisable for their angular forms, strong colours, oval elements withcabochons,chains and maxi sautoirs, whilst the predominant use of yellow gold made precious pieces feel all the more wearable, and became known as a Bulgari trademark.[citation needed]In 1977, Bulgari entered the world of horlogerie with the launch of theBVLGARI BVLGARIwatch.[16]At the time, Gianni led a complete overhaul of the company, focusing on product design.[17]

1980s: Prêt-à-porter jewellery[edit]

In the early 1980s, to oversee all production of Bulgari watches, Bulgari Time was founded inSwitzerland.[18]In 1984,PaoloandNicola Bulgari,Giorgio's sons, became chairman and vice-chairman, respectively,[19]while their nephew,Francesco Trapani,became chief executive officer.[6]In 1985, Gianni resigned asCEOand in 1987, he left the family business after selling his one-third stake in the company to his brothers Nicola and Paolo.

From the 1990s to the new millennium[edit]

Bulgari diversified its brand in 1993 with the launch of its firstfragrance,Eau Parfumée auThe Vertand the founding of Bulgari Parfums inSwitzerlandto oversee the creation and production of all perfumes. In 1995, Bulgari pushed ahead with an aggressive programme for growth, becoming listed on theMilan Stock Exchangefor the first time. In 1996, the brand launched its first accessories collection, beginning withsilkscarves before developing a range ofleatheraccessories andeyewear.In 1999, the brand launched the B.zero1 ring.[clarification needed][6]

The company has seen 150% revenue growth between 1997 and 2003. Bvlgari continues to build up many brands which has made them one of the most profitable luxury brands in the jewelry industry.

21st century[edit]

The year 2000 was the beginning of an increasingly aggressive period ofverticalizationfor Bulgari, with the acquisition of the luxurywatchmakingbrands Daniel Roth andGérald Genta,[20]followed by the takeover of the jewellery firm Crova and of other companies that specialised in leather goods and watchmaking.[21]The opening of the first Bulgari Hotel inMilanin 2004 further confirmed the expansion strategy of the brand, and was the result of a joint venture with Luxury Group, a division ofMarriott International.In 2009, Bulgari celebrated its 125th anniversary with a retrospective of the brand's history, held in Rome atPalazzo delle Esposizioni.[22]That same year, the snake—a motif that appeared in Bulgari collections from the 1960s—re-emerged as the emblem of theSerpenticollection.

In 2011, Bulgari signed a strategic alliance withLVMH Moet Hennessy Louis Vuitton SA,the world's leading luxury group. The agreement was based on a stock transfer of the Bulgari family's shares in Bulgari S.p.A. to LVMH, an all-share deal for €4.3 billion ($6.0 billion), higher than LVMH had offered for any other company.[23]Under the deal, the Bulgari family sold their 50.4 per cent controlling stake in exchange for 3 per cent ofLVMH,thereby becoming the second-biggest family shareholder behind theArnaults in LVMH.[24]The takeover doubled the size of LVMH's watches and jewellery unit, which at the time of the acquisition includedTag Heuertimepieces andDe Beersdiamond necklaces. The acquisition concluded on 4 October 2011 as Bulgari was delisted from theBorsa Italiana.[citation needed]

In 2014, Bulgari celebrated the 130th anniversary of the brand. To mark the occasion, the shop atVia Condotti10 was "reimagined" by the architectPeter Marino,and reopened. On the same day, the brand donated €1.5 million to the city ofRomefor the restoration of theSpanish Steps.[25]A few months after the Grand Opening, theDOMVSwas inaugurated in the redesigned Bulgari boutique, creating a gallery space to house of Bulgari's Heritage Collection.[26]

In 2017, Bulgari opened a new jewellery manufacturing headquarters inValenza.The largest in Europe, with a total area of 14,000 square metres (150,000 sq ft), the Manufacture has been given a GoldLEED(Leadership in Energy & Environmental Design) certification for sustainability in its design.[27]The facility was built over the former home of the first goldsmith in Valenza,Francesco Caramora.The buildings follow the model of a Romandomus,and are built around a central courtyard.[28]

In March 2024, the Bvlgari jewellery house officialized and announced the creation of the Fondazione Bvlgari, an institution that is an extension of the brand's founding values, particularly its commitment to safeguarding historical heritage.[29]

Products[edit]

Jewellery[edit]

Bulgari's jewellery collections includeB.zero1,Divas' Dream,Serpenti,BVLGARI BVLGARI,Parentesi,and a bridal line.[citation needed]

Watches[edit]

Bulgari watch

Bulgari's watches collections includeOcto,BVLGARI BVLGARI,DiagonoandHaute Horlogeriecreations for men, andLVCEA,Serpenti,Divas' Dream,BVLGARI BVLGARI,B.zero1and High Jewellery timepieces for women. It mixes Italian design and Swiss watchmaking. The company's Swiss subsidiary, Bulgari Haute Horlogerie SA, is responsible for Bulgari's watch production. It was founded in 1980 and is headquartered inNeuchâtel.Bulgari Haute Horlogerie SA employs about 500 people.[citation needed]

Fragrances[edit]

Bulgari Perfume Le Gemme

Fragrances includeGoldea,SplendidaandOmniafor women,BVLGARI Man,Aqua,the Classics,andBlv Pour Hommefor men, whilstBVLGARI Le GemmeandEau Parfumée.[citation needed]

Accessories and leather goods[edit]

The creation of Bulgari accessories and leather goods is handled in the Bulgari atelier inFlorence,and twice a year presents its collections atMilan Fashion Week.[citation needed]

Bulgari hotels and resorts[edit]

Bulgari flagship,Fifth Avenue,Manhattan

In 2001, Bulgari formed a joint venture withThe Ritz-Carlton Hotel Company,a hotel brand owned byMarriott International,to launch Bulgari Hotels & Resorts, a collection of hotels and resort destinations around the world.[30]Their distinctive settings and Italian design by the architectural firmAntonio Citterio-Patricia Viel characterise the properties of Bulgari Hotel Group.

Although operated by The Ritz-Carlton Company, Bulgari hotels and resorts do not participate in the Marriott Bonvoyloyalty program,meaning guests can neither earn nor redeem points for free bookings. It is currently the only Marriott brand to practice this policy, following the inclusion of The Ritz-Carlton Reserve properties to the program in April 2022.[31]

Accommodations[edit]

Historical[edit]

North
America		 0Europe0 Middle E.
& Africa		 0Asia &0
Pacific		 Caribbean
Latin Am.		 Total
2004 Properties 01 0001
Rooms 00058 58
2005 Properties 01 0001
Rooms 00058 58
2006[32] Properties 01 01 02
Rooms 00058 00059 00117
2007[33] Properties 01 01 02
Rooms 00058 00059 00117
2008[34] Properties 01 01 02
Rooms 00058 00059 00117
2009[35] Properties 01 01 02
Rooms 00058 00059 00117
2010[36] Properties 01 01 02
Rooms 00058 00059 00117
2011[37] Properties 01 01 02
Rooms 00058 00059 00117
2012[38] Properties 02 01 03
Rooms 00143 00059 00202
2013[39] Properties 02 01 03
Rooms 00143 00059 00202
2014[40] Properties 02 01 03
Rooms 00143 00059 00202

From 2015[edit]

North
America		 0Europe0 Middle E.
& Africa		 0Asia &0
Pacific		 Caribbean
Latin Am.		 0Total0
2015[41] Properties 02 01 03
Rooms 00143 00059 202
2016[42] Properties 02 01 03
Rooms 00143 00059 202
2017[43] Properties 02 01 02 05
Rooms 00143 120 179 442
2018[44] Properties 02 01 03 06
Rooms 00143 120 260 523
2019[45] Properties 02 01 03 06
Rooms 00143 120 260 523
2020[46] Properties 02 01 03 06
Rooms 00143 120 260 523
2021[47] Properties 03 01 03 07
Rooms 00222 121 260 603
2022[48] Properties 03 01 03 07
Rooms 00222 121 260 603
2023[49] Properties 04 01 04 09
Rooms 00332 121 358 811

Properties[edit]

# Hotel Name Hotel Location Country Opening Year
1 Bulgari Hotel Beijing Beijing China 2017[50]
2 Bulgari Hotel London London United Kingdom 2012[51]
3 Bulgari Hotel Milano Milan Italy 2004[52]
4 Bulgari Hotel Paris Paris France 2021[53]
5 Bulgari Hotel Roma Rome Italy 2023[54]
6 Bulgari Hotel Shanghai Shanghai China 2018[55]
7 Bulgari Hotel Tokyo Tokyo Japan 2023[56]
8 Bulgari Resort Bali Bali Indonesia 2006[57]
9 Bulgari Resort Dubai Dubai United Arab Emirates 2017[58]

Shops[edit]

Bulgari Hong Kong Boutique

Bulgari has about 300 stores. The largest is the 10-storey Bulgari Ginza Tower inTokyo,940 square metres (10,100 sq ft) of retail floor space, including a restaurant and lounge bar.[citation needed]

North American Bulgari boutiques (41 in the US) and distributors are found inBal Harbour,Beverly Hills,Cabo San Lucas,Chicago,Costa Mesa,Honolulu,Houston,King of Prussia,Las Vegas(4 stores),Los Angeles,New York,Mexico City,Montreal,Orlando,Palm Beach,San Antonio,San Francisco,San Jose,San Juan,The Mall at Short Hills,Scottsdale,Toronto,VailandWashington D.C.[59]

South American Bulgari distributors are found in Bogotá, Lima, Margarita Island, Quito and São Paulo.[citation needed]

Partnership with Save the Children[edit]

In 2009, Bulgari began a partnership withSave the Children,including a co-branded jewellery collection, of which a portion of the proceeds goes to the charity.[60]As of 2018, Bulgari's contribution has totalled $80 million.[citation needed]

Bulgari Art Award[edit]

The Bulgari Art Award is an annual art award in partnership with theArt Gallery of New South Wales,Sydney,Australia. Sponsored by Bulgari, the $50,000 acquisitive cash award plus $30,000 residency in Italy is presented to mid-career Australian artists.[61]

The winners include:

References[edit]

  1. ^abcdef"Annual Report 2010"(PDF).Bulgari.Retrieved19 May2011.
  2. ^Wells, John C.(2008).Longman Pronunciation Dictionary(3rd ed.). Longman.ISBN978-1-4058-8118-0.
  3. ^"Head of Italian luxury goods firm says new hotel venture will boost profits".CNN.13 February 2011.
  4. ^ab"Fashion Brands: Bulgari".The Fashion Model Directory.Retrieved1 December2021.
  5. ^"The Bulgari logo".Museo Del Marchio Italiano.Archived fromthe originalon 14 June 2021.Retrieved19 July2018.
  6. ^abcdTriossi, Amanda; Mascetti, Daniela (2009).BVLGARI.Milan: Electa. pp. 9–17.ISBN978-8-8370-6492-1.
  7. ^ab""Булгари" да се наричам първа радост е за мене "[To be called "Bulgarian" is my first joy].Trud.Archived fromthe originalon 27 April 2016.Retrieved1 December2021.
  8. ^""Булгари" да се наричам първа радост е за мене - trud.bg ".Archived fromthe originalon 27 April 2016.
  9. ^Stefanos Konstantinos, Voulgaris (April 2010).Ek Voulgareōn: hena oikogeneiako chroniko: plērophories gia tē mesaiōnikē Valkanikē[From the Bulgarians: An anecdotal family chronicle: Information on the medieval Balkans]. Bookstore of "Estia", I.D. Collarou & Sias.ISBN978-9-6005-1321-9.
  10. ^Danova, Penka (2015)."Le fonti della cronaca Bulgari"[Sources of the Bulgari Chronicle].Études Balkaniques(in Italian) (2): 5–34.
  11. ^"Βούλγαρης Γ. Σωτήριος" Ο κοσμηματοπώλης των βασιλέων ""[Voulgaris G. Sotirios "The jeweler of kings" ].Reporter(in Greek). 23 January 2014.
  12. ^"From the origins".Bulgari.Archived fromthe originalon 16 November 2018.Retrieved19 July2018.
  13. ^Meylan, Vincent (2015).Roma Passion Jewels: Talking with Paolo and Nicola Bulgari.Milan: Mondadori Electa.ISBN978-8-8918-0454-9.
  14. ^"Bulgari: the man, the enigma".The Age.Melbourne.8 January 2007.
  15. ^Bates, Rob (15 February 2024)."Acclaimed Designer Marina B Dies".www.jckonline.com.
  16. ^"70 eclectic creativity".Bulgari.Archived fromthe originalon 16 November 2018.Retrieved23 July2018.
  17. ^"Gianni Bulgari".Enigma.Archived fromthe originalon 11 January 2013.
  18. ^"THE HISTORY OF BVLGARI".Swisstime.
  19. ^"Bulgari S.p.A.".International Directory of Company Histories.Vol. 106. St. James Press. 2010.
  20. ^"Bulgari To Acquire Gerald Genta And Daniel Roth".Federation of the Swiss watch industry.5 July 2000.
  21. ^"Bulgari Acquires 100% Of Crova".Diamonds.3 January 2005.
  22. ^"Bulgari. Tra Eternità E Storia. 125 Anni Di Gioelli Italiani"[Bulgari: Between Eternity and History. 125 Years of Italian Jewels].Palazzo delle Esposizioni(in Italian). 22 May 2009.
  23. ^Roberts, Andrew; Lachapelle, Tara (7 March 2011)."Bulgari Takeover 82% Costlier Than Hermes for LVMH: Real M&A".Bloomberg BusinessWeek.Archived fromthe originalon 10 March 2011.Retrieved1 December2021.
  24. ^Betts, Paul (7 March 2011)."Bulgari is new jewel in LVMH crown".Financial Times.London. Archived fromthe originalon 1 January 2015.
  25. ^"Bulgari's Spanish Steps donation a €1.5m 'gift' to the people of Rome".The Guardian.London.Agence France-Presse.20 March 2014.Retrieved1 December2021.
  26. ^"Bulgari inaugura una Domus per collezioni storiche e gioielli delle star"[Bulgari inaugurates a "home" for historical collections and jewels of the stars].Corriere della Sera.Milan. 24 October 2014.Retrieved1 December2021.
  27. ^"Maniffattura Bulgari".U.S. Green Building Council.11 July 2017.
  28. ^Beckett, Kathleen (30 March 2017)."Bulgari Creates a New Jewelry-Making Center".The New York Times.
  29. ^"Bulgari annonce le lancement de sa Fondation".Journal du Luxe.Retrieved15 April2024.
  30. ^Ricci, Manfredi; Robins, Rebecca (26 April 2012).Meta-luxury, Brands and the Culture of Excellence.Palgrave Macmillan. p. PT91.ISBN978-1-1370-0566-3.
  31. ^"Bulgari Hotels Sees Unhurried Growth as a Way to Retain Its Cachet".Skift.Retrieved22 June2023.
  32. ^"2006 Annual Report".Marriott International.p. 20.
  33. ^"2007 Annual Report".Marriott International.p. 26.
  34. ^"2008 Annual Report".Marriott International.p. 22.
  35. ^"2009 Annual Report".Marriott International.p. 19.
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  39. ^"2013 Annual Report".Marriott International.p. 20.
  40. ^"2014 Annual Report".Marriott International.p. 17.
  41. ^"2015 Annual Report".Marriott International.p. 5.
  42. ^"2016 Annual Report".Marriott International.p. 7.
  43. ^"2017 Annual Report".Marriott International.p. 7.
  44. ^"2018 Annual Report".Marriott International.p. 6.
  45. ^"2019 Annual Report".Marriott International.p. 6.
  46. ^"2020 Annual Report".Marriott International.p. 8.
  47. ^"2021 Annual Report".Marriott International.p. 6.
  48. ^"2022 Annual Report".Marriott International.p. 6.
  49. ^"2023 Annual Report".Marriott International.p. 6.
  50. ^"Bulgari Hotel Beijing to Open on September 27".Luxury Travel Advisor.8 August 2017.
  51. ^"Bulgari to Open London Hotel in 2012".Women's Wear Daily.14 February 2011.
  52. ^"Bulgari's First Ever Hotel is An Impressive 58-room Establishment Aiming to be the Town Jewel".Official Bespoke.19 January 2007.
  53. ^"Bulgari Hotels Just Opened Their First Paris Outpost, and It's Just As Chic As You'd Expect".Travel + Leisure.2 December 2021.
  54. ^"Bulgari Inaugurates Luxury Hotel in Rome: A Historic Homecoming".Pursuitist.11 June 2023.
  55. ^"The Bvlgari Hotel Shanghai Opens".Luxury Travel Advisor.2 July 2018.
  56. ^"Bulgari Hotel Tokyo Opens".Hospitality Net.5 April 2023.
  57. ^"Bulgari Resort, Bali to Open in October 2006".Five Star Alliance.31 May 2006.
  58. ^"First Bulgari hotel in Dubai confirms opening date".Gulf Times.31 October 2017.
  59. ^"Find a Store".Bulgari.Retrieved1 December2021.
  60. ^"Jewellery – Save The Children".Bulgari.Retrieved1 December2021.
  61. ^ab"Bulgari Art Award".Art Gallery NSW.Retrieved1 December2021.
  62. ^Harford, Sonia (12 April 2013)."Sweet win for artist seeking refuge in discards of modern life".The Age.Retrieved10 March2022.
  63. ^Blake, Elissa (27 April 2017)."Bulgari Art Award 2017: Tomislav Nikolic".Sydney Morning Herald.
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