Bulgari (ISE: BUL) is an Italian jeweler and luxury goods retailer. The name is usually written "BVLGARI" in ancient Roman style, and comes from the founder, Greek Sotirios Boulgaris (1857-1932). Although the company made a name for itself with jewelry, today it is a recognized luxury brand that markets several product lines including watches, handbags, fragrances, accessories, and hotels.
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Bulgari (ISE: BUL) is an Italian jeweler and luxury goods retailer. The name is usually written "BVLGARI" in ancient Roman style, and comes from the founder, Greek Sotirios Boulgaris (1857-1932). Although the company made a name for itself with jewelry, today it is a recognized luxury brand that markets several product lines including watches, handbags, fragrances, accessories, and hotels.
Early history
Sotirios Boulgaris (Sotirio Bulgari, Σωτήριος Βούλγαρης) began his career as a jeweller in his home village Paramythia (Epirus, Greece), where his first store is still to be seen. In 1877 he left Greece for Corfu and then Naples. In 1881 he finally moved to Rome, where in 1884 he founded his company and opened his first shop in via Sistina.
The current flagship store in via dei Condotti was opened in 1905 by Bulgari with the help of his two sons, Constantino (1889-1973) and Giorgio (1890-1966). The store quickly became a place where the world's rich and famous came for the unique, high quality jewelry designs combining Greek and Roman art.
During the Second World War, Costantino Bulgari and his wife, Laura Bulgari, hid three Jewish women in their own Roman home. They were strangers to them; the Bulgaris opened their doors out of outrage for the raid of the Roman ghetto in October 1943. For their generous action, on 31 December, 2003, they were awarded the title of Righteous among the Nations at Yad Vashem in Jerusalem.
International expansion
Bulgari opened its first international locations in New York City, Paris, Geneva and Monte Carlo in the 1970s. For many years the company maintained a showroom in New York's The Pierre Hotel. Today Bulgari has more than 230 retail locations worldwide.
In 1984 Sotirios' grandsons Paolo and Nicola Bulgari were named Chairman and Vice-Chairman of the company and nephew Francesco Trapani was named CEO. Trapani's goal to diversify the company was started in the early 1990s with the release of the Bulgari perfume line. Under his tenure the company has established itself as a luxury goods brand recognized throughout the world.
In 1995 the company was listed on the Borsa Italiana. The company has seen 150% revenue growth between 1997 and 2003. Currently outside investors hold about 45% of the company's stock.
In 2001, Bulgari, along with The Ritz-Carlton Hotel Company founded Bulgari Hotels and Resorts. Bulgari opened its first hotel in Milan in 2004, and a second in Bali in 2006. Bulgari is the supplier of luxury goods used in guest suites and public areas aboad the ships of the Italian cruise company Silversea.
Designs
Bulgari jewelry design is distinctive and often imitated (and counterfeited). In the 1970s, many of the more expensive Bulgari pieces (such as necklaces, bracelets and earrings) were characterized by instantly recognizable, bold, almost brutal designs combining large and weighty gold links with black-surfaced steel. Genuine Bulgari items usually have a unique serial number that is registered with the company.
