Bulgari SWOT analysis – SWOT Analysis of Bulgari: BVLGARI, the world-renowned jewelry brand that originates from Italy has a distinctive classic style that is typical of Greece and Italy with particular importance placed on colored stones in the jewelry design. The brand was established in Bvlgari was established in 1884, as a single brand of jewelry and has since evolved into an international brand.
BVLGARI is of the opinion the concept of “color” is the essence of its designs, and that is an idea that dates to the Renaissance period of the literature in which the jewelry emphasizes “free use of shade, formidable use of color”. BVLGARI emphasizes its innovative spirit and is the first brand to make use of platinum in the production of rings as a base instead of gold.
Bulgari fun facts: During the 50s & 60s, they associated with elite artists, writers, and actors which was key to their popularity at the time. In fact, on the silver screens, actresses like Audrey Hepburn, Elizabeth Taylor, Sophia Loren, Marlene Dietrich and other beauties sparkled with Bvlgari’s jewels. Even Andy Warhol said, “For me, calling at Bvlgari’s shop is like visiting the best exhibition of contemporary art.”
Contents
- 1 About Bulgari – SWOT analysis of Bulgari
- 2 Bulgari Competitors
- 3 SWOT analysis of Bulgari – Bulgari SWOT analysis
- 4 Strengths of Bulgari – Bulgari SWOT analysis
- 5 Weaknesses of Bulgari – SWOT Analysis Of Bulgari
- 6 Opportunities of Bulgari – Bulgari SWOT analysis
- 7 Threats of Bulgari – SWOT analysis of Bulgari
- 8 Overview Template of Bulgari SWOT analysis
- 9 Conclusion
About Bulgari – SWOT analysis of Bulgari
[wp-svg-icons icon=”office” wrap=”I”] Company: Bulgari S.P.A.
[wp-svg-icons icon=”user” wrap=”I”] CEO: Jean-Christophe Babin
[wp-svg-icons icon=”user” wrap=”I”] Founder: Sotirios Voulgaris
[wp-svg-icons icon=”calendar” wrap=”I”] Year founded: 1884, Rome, Italy
[wp-svg-icons icon=”location-2″ wrap=”I”] Headquarters: Rome, Italy
[wp-svg-icons icon=”stats” wrap=”I”] Annual Revenue: EURO€1 Billion
[wp-svg-icons icon=”bars” wrap=”i”] Profit | Net income: Euro€195 million
[wp-svg-icons icon=”users” wrap=”I”] Number of employees: 4,075
[wp-svg-icons icon=”pie” wrap=”i”] Products & Services: Jewellery | Watches | Fragrances | Accessories | Leather goods
[wp-svg-icons icon=”globe” wrap=”I”] Website: www.bulgari.com
Bulgari Competitors
[wp-svg-icons icon=”pacman” wrap=”I”] Competitors: Signet Jewelers | DK Jewelers | Tiffany & Co. | TAG Heuer | Cartier | Rolex | Rado | Tissot
SWOT analysis of Bulgari – Bulgari SWOT analysis
SWOT Analysis Of Bulgari is brand-based. SWOT Analysis of Bulgari evaluates the brand’s strengths, weaknesses, opportunities, and threats. Advantages and disadvantages can be attributed to internal factors while opportunities and threats can be attributed to external factors. We will be discussing Bulgari’s SWOT Analysis. Below is the detailed SWOT Analysis of Bulgari.
Let’s talk about Bulgari’s SWOT assessment.
Strengths of Bulgari – Bulgari SWOT analysis
The brand name
Bulgari is among the most storied Italian jewelry houses dating since 1884. Its brand name is typically inscribed BVLGARI in the classic Latin alphabet and comes out of the surname given to the company’s Greek founding father, Sotirios Voulgaris (Bulgari is the phonetic representation of the call of Voulgaris.) Bulgari is one of the most storied Italian jewelry houses.
The brand’s history of high quality of workmanship, attention to detail, and high-quality workmanship has helped the brand grow in esteem.
Distributor network
Bulgari is built on a distribution network of around 300 stores that are located in the most unique buying areas of major cities around the world. The largest Bulgari outlet is located in Tokyo. It is the 10-story Bulgari Ginza Tower in Tokyo which covers 940 square meters of retail floor space. 2014 was the year of the 130th anniversary of Bulgari’s popularity.
They are working in close collaboration with partners in collaboration on product creation and are continually adapting and developing essences that are more relevant to Indians such as woody Orientals.
The Product Variety
Three words spring to mind when looking through the brand’s luxurious collections – exploration provocation, awe as well as imagination. Bulgari has never been shy about exploring uncharted territory and combining extraordinary, and at times contradicting, designs to create a perfect, stunning jewelry piece.
Their range of products includes watches and perfumes to leather items as well as gifts and even resorts and hotels.
Weaknesses of Bulgari – SWOT Analysis Of Bulgari
Penetration in Emerging Economies
The brand hasn’t been successful in emerging economies, however, these countries are a lucrative opportunity for Bulgari to expand. The parent company of Bulgari is known as LVMH group previously operated in India through a franchise partnership but was forced to close stores in the year 2011.
The brand now Bulgari is back in India and inaugurated its very first boutique in New Delhi. The countries of Brazil, Russia, China, and India are hugely lucrative for Bulgari and the brand has to make use of this potential.
Copied
Counterfeiters are able to set their sights and paws on this growing market of fashion, which currently is worth EUR400 million in lost sales every year. All brands involved that are involved in this market from large groups such as Morellato to smaller stores in Sardinia are affected by the sale of counterfeits. Bulgari as an individual brand is listed as one of the most counterfeited brands.
The Italian jewelry and luxury goods brand is known for its distinctive designs, and illicit imitations of Bulgari jewelry are not uncommon. The famous B.Zero1 ring is among the most sought-after fake.
Opportunities of Bulgari – Bulgari SWOT analysis
Market Expansion
The company’s expansion strategy may consist of a mix of luxury malls and exclusive luxury hotels, that might want to explore the possibility of opening boutique stores at luxurious resorts. There is a huge market to expand in India in the market for Bulgari and its stores in India in all of the cities in the country, and the brand must look into appropriate retail locations or malls that can meet the needs of the business.
The company plans to increase its hotel and leisure business and is in the process of planning establishing 15 new hotels across the globe, such as in Paris. Moscow as well as Tokyo. This could be an enormous expansion possibility in the world of Bulgari.
Innovation
Bulgari is an organization that is always looking forward. One good example of new technology is the Diagono “E’ Magnesium Watch. It’s no more a smartwatch, but it is a smartwatch. Smartwatches are constructed of electronic components that do not feel like moving and aren’t able to offer any advantages that consumers would not have already gotten from their smartphones.
The brand’s focus is on its security aspect of its. The watch has been working with an online security company known as WiseKei to keep important identities and passwords.
Threats of Bulgari – SWOT analysis of Bulgari
Indian market
The brand must also pay import duties on luxury goods (20 percent or more depending on the category) which means that the brand’s merchandise in India is even more expensive.
This is another reason why customers prefer shopping in Dubai rather than Delhi. Bvlgari in India must compete against aggressive Indian jewelers and brands comprised of Tribhovandas Bhimji Zaveri.
Modifying Designs
The personalization element that Indians appreciate in their jewelry ought to be a disadvantage for Bulgari. Some people may have a Louis Vuitton bag or a Mercedes car however in India customers aren’t allowed to buy from a person wearing the same jewelry.
They require something specific and custom, which only independent jewelers are able to provide. So the brand will need to adapt to the changing behavior of the Indian consumer. India.
Competition
Bulgari is facing formidable competition from other well-known luxury producers in Italy and is particularly Vhernier, Chimento, and Pomellato as well as from smaller companies that are well-known jewelry makers in Italy. The biggest rivals for the Bulgari brand within India include Tiffany and Co, Gitanjali Ciemme Jewels, and Swarovski.
On the global marketplaces, Bulgari faces tough competition from Harry Winston which generates $400 million more in revenue than Chopard which is responsible for 8449% of Bulgari’s sales. Bulgari must remain ahead of the game by introducing innovative products.
You May Also Like:
Overview Template of Bulgari SWOT analysis
Conclusion
Overall, BVLGARI has achieved a stable position in the luxury tourism market by capitalizing on its brand image and using partnerships and marketing strategies successfully. Nevertheless, the analysis shows that maintaining and growing market share in this business sector is difficult, and the brand should focus on using available marketing options more actively to attract customers and advertise new properties. Successful use of digital marketing, social media, and distribution channels will assist the brand in growing its market share and becoming a well-established player in the hospitality industry.
This is the SWOT analysis of Bulgari. Please let us know if you have additional suggestions to add.
[wp-svg-icons icon=”bubbles” wrap=”i”] Let us know What do you think? Did you find the article interesting?
Write about your experiences and thoughts in the comments below.