The world's third-largest jeweller Bulgari Group is seeking partners to enter China's luxury goods market and plans to open stores in major cities next year.
In Hong Kong on Friday to open the fourth Bvlgari-brand store, the firm's chief executive Francesco Trapani said it was discussing mainland store openings with strategic partners.
'If we are lucky, we will open our first store in Beijing or Shanghai next year,' Mr Trapani said. He flew from Milan to inaugurate its 3,000-square-foot flagship store in Central.
Mr Trapani declined to say how many mainland stores the group planned but said Shenzhen would feature in its second stage of development. He noted that Hong Kong's Bvlgari sales to mainlanders showed double-digit growth in the past 12 months.
Mr Trapani said China's luxury goods industry was immature and it would take five to six years for the group to develop the market.
'But China will become a huge market over the next 10 to 15 years,' he said.