(shanghai daily)
Updated: 2006-09-04 09:53

                     

Italian luxury goods maker Bulgari targets China's growing market for luxe and opens an expanded store in Shanghai with a glittering display of vintage jewelry worn by Sophia Loren, other actresses and Alexander the Great.

A dazzling display of some of the world's most breathtaking and historic jewelry highlighted the grand opening of Italian luxury goods giant Bulgari's "twin," or expanded, store at the Shanghai fashion hub, Plaza 66.

Passionate Latin dance opened the Saturday night celebration, and a cocktail party drew celebrities in their most intriguing and fascinating outfits. However, neither the exotic deep V-neck one-piece uniform nor the Chanel extra-long boots or any other extravagant clothing could be more captivating than the treasure trove of jewelry on display.

In the plaza atrium in front of the store, three huge golden tents were gradually opened for the premiere exhibition of Bulgari's Vintage collections in China.

They included the five-strand gold necklace with a silver ornament, called a tetradrachm, of Alexander the Great; a 1960s necklace in gold set with emeralds, rubies, sapphires and diamonds; a necklace set with 917 diamonds weighing 132 carats, worn by Charlize Theron at the 2005 Academy Awards. Also on display were the snake-shaped bracelet watches and the jewelry worn by Sophia Loren and Jennifer Aniston.

Eight top models also presented the impressive jewel pieces selected from Bulgari's High Jewelry collection that is traveling to Bulgari stores worldwide.

Bulgari opened its flagship store on the Chinese mainland in 2003 in Shanghai. The newly renovated Shanghai store is the company's first twin store in China, and also its third in the world, following the opening of the first one in Osaka, Japan, last November and the second in Washington, DC, in June.

"Shanghai is a natural choice as it is where the Bulgari China flagship store first started three years ago," said Nicola Bulgari, vice chairman of the Bulgari Group who flew to Shanghai with his family for the event.

"I paid a visit to China last year and I am happy to be back again. Shanghai is one of the most international, energetic and beautiful cities in the world. I doubt I will stay away for long."

The new twin store, covering 254 square meters, is combined with a store selling a full line of accessories, including handbags, sunglasses, ties and small leather goods, and a jewelry-and-watch store next to it.

Bulgari's expansion into the accessory business started in 1996 with the introduction of silk scarves and ties. In the following year, eyewear, leather bags and small leather goods were launched.

This new area of business has proved highly successful, revenue increasing by 24.2 percent in 2005, and up 32.3 percent in the first half of 2006.

The brand, which began as a traditional family jewelry shop, now has a portfolio ranging from jewels and watches to accessories and perfumes.

When asked how to balance the family tradition and the rapid development of the company, Bulgari said a dependable business structure started at home.

"As a family-run company, the family itself must be the guardian of the brand and the embodiment of its original and fundamental values," he said.

"Although receptive to new ideas, designs, etcetera, we as a family discuss and agree unanimously on the changes to be made to the products or business, all for the good of the company, to guarantee consistency with recent and past history and to preserve the image of the brand."

He said that Bulgari considers the Chinese mainland as one of the key markets to develop in coming years. In addition to the Shanghai store, Bulgari has opened two stores in Beijing and one in Guangzhou in south China's Guangdong Province.

Bulgari is also looking at 10 other cities on the Chinese mainland as potential locations for new stores, Bulgari said.

To celebrate the opening of the new twin store, an exhibition at Plaza 66 showcases Bulgari's history and legacy through Saturday. A selection of its Vintage jewels as well as some High Jewelry pieces will also be on display.