Bulgari Closes Three Stores Including Madivson Avenue Store
Bulgari, a luxury jewelry company, is closing three U.S. stores. National Jewelerreports that the closed stores include a prime Madison Avenue location Manhattan. The two other locations are in Aspen, Colorado and Palm Beach, Florida. While the company is closing three U.S. stores they do plan to launch new stores in Dallas, Las Vegas and San Francisco by the end of this year.
Bulgari has seen revenues fall during the recession. The company's sales plunged 20.5% through June, 2009 compared to the previous year. They have had a particularly difficult time in the U.S. (51.6% sales drop) and Japan (42% sales drop) markets according to National Jeweler.
