India is the largest market for gold jewellery, market share of 10% would be huge: Bulgari CEO 

Outgoing CEO Jean-Christophe Babin maintained that the Indianised products represent Bulgari very well and no compromise on brand identity should be done if the brand aims to impress Indian communities  

Mumbai: On the 75^th anniversary of Bulgari, the Italian luxury fashion house expressed that the label is hopeful of the India market. Known for its jewellery and product categories such as accessories and perfumes, outgoing CEO Jean-Christophe Babin claimed that even if the brand is able to tap in a 10 per cent share of India’s gold jewellery market, it would be a huge take-away. 

Babin also acknowledged that more could be done in terms of distribution, adding that small advances can bring big rewards, “India is the number one market for gold jewellery, even if we manage to get 10 per cent of it, it will be huge,” he said.  

The luxury brand observed its 145^th anniversary at an exhibition in China recently where Babin said that his strategy has been to play the ‘opposite game of the market leader’: “If the market leader keeps its icons separate according to product categories, we mixed them,” Babin was quoted as saying.  

The luxury label’s revenues over the past 10 years — when the outgoing CEO held the helm, have more than doubled from €1.5 billion to over €3.5 billion. But India has been a unique market, according to Babin who sounded bullish on India’s market potential.  

“There is a way to make our jewellery work in India and among the Indian communities abroad, but, of course, this needs to be done in a way that does not compromise the brand identity. The products we have adapted are representative of Bulgari and work very well,” he said.  

The luxury brand had tweaked its Bulgari necklace and a B.zero1 bracelet to fit Indian traditions so that the products look ‘Indianised’, according to the report. 

Retail Jeweller India News