Bulgari SpA reported revenues for the second quarter up 16.3 percent to €243.9 million. The company said new products and sales growth in Japan has boosted growth in the second quarter ended 30 June. Also driving sales were its new pavé diamond jewellery line Parentesi and overhauled watch collection. Chief executive Francesco Trapani called Bulgari’s creative “reinterpretations of iconic themes and motifs” in watches and jewellery a success. “I am therefore confident that the group is going in the right direction and, in accordance with the guidance already given to the market, I confirm my optimism also for the next months,” he said in a statement. Trapani said in March that sales for the full year 2006 should grow 8 to 9 percent, with profits also in the “high single-digits”. Jewellery sales rose 9.8 percent to €100.2 million, while watch revenues gained 20.7 percent to €69.8 million. Sales from fragrances rose 24.2 percent to €45.1 million, while accessories sales increased 18.4 percent to €22.1 million. Although sales grew in all geographic regions, the European market – especially Italy – showed a slowdown in the second quarter. However, accelerated sales in Asia compensated for the European results. Sales in Italy for the second quarter increased a mere 2.7 percent to €30.7 million, compared with a 13.9 increase in the first quarter. Sales in the rest of Europe gained 17 percent to €34.8 million. Sales in the Americas climbed 12.7 percent to €34.8 million. Meanwhile, sales in Japan surged 30.3 percent to €65.7 million. The rest of Asia showed signs of recovery from a drop in sales volume of 20.3 percent in the first quarter, with volume growing 8.2 percent to €37.2 million in the second quarter. The company said it had witnessed promising Asian sales despite weakness in some markets there. Last year, the company closed down some wholesale accounts in the region to prevent the reselling of stock to Japan . Revenues for the first half increased 15.1 percent to €447.8 million.

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