Bulgari UK has revealed that it posted a lack of £3.2m for the yr ended 31 December 2023 a 193% drop from the £3.5m revenue it posted within the earlier yr.
Alongside this, the posh items firm earned £54.6m in UK gross sales final yr, in contrast with £60.3m in 2022, a drop of 10%.
Moreover, the corporate’s gross revenue fell to £25.3m, from £30.9m, an 18% lower.
Regardless of this, the corporate reported a 15% improve in high-end watch gross sales within the UK.
It additionally reported a 19% improve in international revenues with a 30% progress in excessive finish jewelry.
Bulgari attributed the outcomes to a “stagnant UK financial system” and a lower in tourism.
It additionally cited additional the impact of ongoing geopolitical occasions on UK inflation and a consequent fall in client buying energy.
Its targets for 2024 embrace strengthening its place within the UK market by way of continued collaborations with Bafta, Harrods, and Selfridges.