“It’s A Miracle”: How Bvlgari Beat The Odds In A Tough Luxury Market – The Business Times

[SHANGHAI] It’s a winter’s day in Shanghai but the sun is shining and there’s a distinctly positive vibe coming from Jean-Christophe Babin. The chief executive officer of LVMH-owned Bvlgari has reason to be happy.

The Italian luxury jewellery brand is the first to launch a major event this year, perfectly timed with the approaching Year of the Snake. The Serpenti Infinito Exhibition which opened on Jan 8 in Shanghai celebrates the snake in various art forms, and showcases Bvlgari’s archival as well as latest high jewellery collection from its most successful icon, the Serpenti.

But beyond that, Babin, the brand’s CEO since 2013, has other reasons for a spring in his step.

Ahead of French luxury conglomerate LVMH’s full-year results release on Jan 28, he reveals that Bvlgari has notched up another “record year” in 2024, “very similar to 2023”. This, he says, is “a miracle”, given that 2023 was an “over-the-top” year when post-pandemic spending peaked.

“Believe it or not, except for China, we grew everywhere last year, much more than what we expected,” Babin tells The Business Times in an exclusive interview in the Chinese city.