Bulgari accessories gain ground

Fine jeweller Bulgari is focusing increasingly on accessories with the opening of more accessories-only stores. The jeweller has spent the summer redesigning its store on the Via della Spiga in Rome to house accessories. It is currently the company's first store dedicated to accessories in Europe , although it also has such stores in Washington DC , Tokyo and Osaka , Shanghai , Seoul and Bangkok . The next accessories-only store in Europe will open in Florence in December and a third will open in Rome next year, according to WWD, although a Bulgari spokeswoman denied knowledge of any expansion plans. Last year, Bulgari's accessories sales amounted to $98 million (£51.5 million), up 24 percent from 2004. The division generated sales of $60.5 million in the first half of 2006, signifying an increase of 32 percent over the same period in 2005.

The new Rome boutique showcases the company's bags, small leather goods, eyewear - which is created under license with Luxottica- fragrances and scarves for women. These take up the entire ground floor, while the mezzanine is dedicated to men's accessories.

"Accessories are still a contained business for us, but certainly one poised to grow and full of potential, which is why we're opening dedicated shops," chief executive Francesco Trapani told WWD. The company says it is also considering the option of twin stores, with sites counting over 2,500 square feet divided into two boutiques. One would be dedicated to fine jewellery and watches and the other to accessories. Bulgari has chosen to showcase its accessories collection separately as a result of the fast growing business. Sharing space with fine jewellery was not doing it justice. "Plus, traffic in a jewellery stores is always limited," Trapani said. The emphasis on quality and exclusivity has, however, remained the focal point, as is demonstrated by the high entry price point. A canvas and leather bag with the Bulgari Bulgari logo retails for $1,300, while canvas and lizard models retail for $2,800. Key chains are available for $127, sunglasses range from $248 to $611 and wallets can cost as much as $954 for a crystal-embellished python style.