The changing tastes of Chinese consumers suit luxury, Bulgari CEO says
The chief executive of luxury brand Bulgari, Jean-Christoph Babin, has told Chinese media he is optimistic about a return to growth the luxury sector in China.
In recent comments to China Daily, Mr Babin said that rapid growth in recent years in the Chinese economy has led to consumers there becoming what he called more sophisticated and refined in their tastes. He said this suits high-end brands well and he insisted that Bulgari would work to develop products whose design would go down well in the Chinese market.
He said the average age of the brand’s consumers in China is between 25 and 35, whereas the average in Europe is between 34 and 45. He said Bulgari had had to close 50% of its stores in China at the peak of the covid-19 pandemic but had now reopened all of them. He said the brand had experienced a strong rebound in these stores and on its dedicated e-commerce site since mid-March.
