Bulgari

Bulgari S.p.A.

Headquarters in Rome

Type| Private società per azioni
Industry| Retail
Founded| 1884; 142 years ago (1884)
Founder| Sotirios Voulgaris
Headquarters| Rome, Italy

Key people

* Paolo Bulgari​ (chairman)
* Jean-Christophe Babin​ (CEO)

Products|

* Jewellery
* watches
* accessories
* fragrances
* cosmetics
* hotels

Revenue| €2.3 billion (2025)

Operating income

| €82.09 million (2023)

Net income

| €84 million (2023)[1]
Total assets| €1.490 billion (end 2010)[1]
Total equity| €934.0 million (end 2010)[1]
Owner| LVMH
Website| www.bulgari.com

Bulgari (/ˈbʊlɡəri/,[2] it; stylized as BVLGARI) is an Italian luxury fashion house founded in 1884 and known for its jewellery, watches, fragrances, accessories, and leather goods. Headquartered in Rome, the company was acquired by the French conglomerate LVMH in 2011, thus becoming one of the latter's subsidiaries.

The silversmith and founder of the company Sotirios Voulgaris (Greek: Σωτήριος Βούλγαρης, Italian: Sotirio Bulgari) began his career as a jewellery vendor at his family's shop in Ottoman Epirus (now in Greece). During the 1880s, the family moved to Rome, where in 1884 Sotirios launched his company.[3] Over the years, Bulgari became an international brand, evolving into a notable player in the luxury market, with an established network of stores worldwide.[4] While the majority of design, production and marketing is overseen and executed by Bulgari, the company does, at times, partner with other entities. For example, Bulgari eyewear is produced through a licensing agreement with Luxottica, and Bulgari formed a joint venture with Marriott International in 2001 to launch its hotel brand, Bulgari Hotels & Resorts, a collection of properties and resort destinations around the world.

## Contents

* 1 Logo
* 2 History
* 2.1 From its origins through the 1940s
* 2.2 1950s and 1960s: Colour revolution and Dolce Vita
* 2.3 1970s: Eclectic creativity and global expansion
* 2.4 1980s: Prêt-à-porter jewellery
* 2.5 From the 1990s to the new millennium
* 2.6 21st century
* 3 Products
* 3.1 Jewellery
* 3.2 Watches
* 3.3 Fragrances
* 3.4 Accessories and leather goods
* 4 Bulgari hotels and resorts
* 4.1 Accommodations
* 4.1.1 Historical
* 4.1.2 From 2015
* 4.2 Properties
* 5 Shops
* 6 Bulgari Art Award
* 7 References

## Logo

BVLGARI's overseas headquarters within the LVMH Tower in Midtown Manhattan, seen here with its bluish, gem-shaped, angulated glass façade

The trademark of the company, usually written BVLGARI in the classical Latin alphabet, is derived from the surname of the company's founder, Sotirios Voulgaris (Greek: Σωτήριος Βούλγαρης, el; 1857–1932).[5]

The BVLGARI logo was used for the first time in 1934, when its gilded brass letters graced the central doorway of the Via Condotti flagship store.[6] In reference to ancient Rome, the "U" was replaced with the letter "V". Since then, the trademark is stylized BVLGARI in the classical Latin alphabet.[5][7]

## History

### From its origins through the 1940s

The Voulgaris were a silversmithing family from the Ottoman-ruled village of Paramythia, Epirus (now part of Greece). Whether or not they share the same paternal line with the Voulgaris family of Corfu is unclear, but Count Stefanos Voulgaris denied that the two are genealogically related.[8] According to chronicles of the Voulgaris family written in Venetian Corfu, the Voulgaris family of Saint Spyridon of Corfu descended from the royal figures of "barbarian" peoples who settled in Moesia near the Balkan – Haemus mountains, located in Bulgaria", including Prince Stefan Lazarević and Khan Tervel, "kings of the Triballi,[9] in the 16th century testament of the family, becoming such by taking refugee in the Venetian island Corfu.[10][11][8]

The founder of the Bulgari brand was Sotirios Voulgaris (Σωτήριος Βούλγαρης), who was born in Paramythia, in March 1857; he originated from the Aromanian village of Kalarrytes, which was the largest center for silversmithing in the Balkans. He was one of eleven children of Georgios Voulgaris (1823–1889) and his Vlachophone Greek mother Eleni Strouggari. In 1881, Sotirios and his family moved to Rome, where in 1884 he opened his second jewellery store on via Sistina 85 (their first shop in Naples closed after burglaries).[3] In 1888, he married Aromanian Eleni Basio, with whom he had six children: Constantine-Georgios (1889–1973), Leonidas-Georgios (1890–1966), Maria-Athena (1891–1976), Sofia (1893–1908), Alexandra (1895–1984) and Spyridon (1897–1932); Leonidas-Georgios is the father of the current chairman of the company, Paolo Bulgari.[12] In 1905, he unveiled the Via Condotti shop that would become the company's flagship.[7] In its early years, Bulgari was known for silver pieces that borrowed elements from Byzantine and Islamic art, combining them with floral motifs. At the time, Paris was the apex of fashion and creativity, and its trends influenced Sotirio's designs for decades: jewels of the early '20s were characterised by platinum Art Deco settings while those of the '30s featured geometric diamond motifs—sometimes set in combination with coloured gemstones. Convertible jewels were also popular during the time, and one of Bulgari's major pieces was the Trombino, a small trumpet-shaped ring. In 1932, Sotirio died, leaving the business to his two sons, Giorgio (1890–1966) and Costantino (1889–1973), who each had a keen interest in precious stones and jewels. During the Second World War, most new jewellery was crafted out of gold, as gems were scarce, and designs became more naturalistic. As the 1940s came to a close, Bulgari introduced Serpenti bracelet-watches.[13]

Bulgari Via Condotti flagship store

### 1950s and 1960s: Colour revolution and Dolce Vita

In the 1950s, some of Bulgari's best-known clients included Elizabeth Taylor, Anna Magnani, Ingrid Bergman and Gina Lollobrigida as Rome earned a reputation as "Hollywood on the Tiber" with the Cinecittà studios.[14]

Bulgari further demonstrated its craftsmanship in the 1960s with intricate designs like the Serpenti collection, where colorful enamel and stones, including rubies and diamonds, were meticulously fitted into the serpent's scales to create a vibrant and detailed finish.[15]

A Bulgari shop in Baku, Azerbaijan

After Giorgio's death in 1966, his son Gianni led the company as co-chief executive with his cousin Marina.[16] Designer and heir to the jewelry legacy, Marina Bulgari, also known as Marina B, died on 14 February 2024 in Rome, at the age of 93.[17]

### 1970s: Eclectic creativity and global expansion

During the 1970s, Bulgari stores opened in New York, Geneva, Monte Carlo and Paris. This era marks the beginning of the Group's international expansion, with Gianni as chairman and CEO. A number of new motifs made their debut as well—jewels became recognisable for their angular forms, strong colours, oval elements with cabochons, chains and maxi sautoirs, while the predominant use of yellow gold made precious pieces feel all the more wearable, and became known as a Bulgari trademark. In 1977, Bulgari entered the world of horlogerie with the launch of the BVLGARI BVLGARI watch.[18] At the time, Gianni led a complete overhaul of the company, focusing on product design.[19]

### 1980s: Prêt-à-porter jewellery

In the early 1980s, to oversee all production of Bulgari watches, Bulgari Time was founded in Switzerland.[20] In 1984, Paolo and Nicola Bulgari, Giorgio's sons, became chairman and vice-chairman, respectively,[21] while their nephew, Francesco Trapani, became chief executive officer.[7] In 1985, Gianni resigned as CEO and in 1987, he left the family business after selling his one-third stake in the company to his brothers Nicola and Paolo.

### From the 1990s to the new millennium

Bulgari diversified its brand in 1993 with the launch of its first fragrance, Eau Parfumée au The Vert and the founding of Bulgari Parfums in Switzerland to oversee the creation and production of all perfumes. In 1995, Bulgari pushed ahead with an aggressive programme for growth, becoming listed on the Milan Stock Exchange for the first time. In 1996, the brand launched its first accessories collection, beginning with silk scarves before developing a range of leather accessories and eyewear. In 1999, the brand launched the B.zero1 ring.[clarification needed][7]

### 21st century

The year 2000 was the beginning of an increasingly aggressive period of verticalization for Bulgari, with the acquisition of the luxury watchmaking brands Daniel Roth and Gérald Genta,[22] followed by the takeover of the jewellery firm Crova and of other companies that specialised in leather goods and watchmaking.[23] The opening of the first Bulgari Hotel in Milan in 2004 further confirmed the expansion strategy of the brand, and was the result of a joint venture with Luxury Group, a division of Marriott International. In 2009, Bulgari celebrated its 125th anniversary with a retrospective of the brand's history, held in Rome at Palazzo delle Esposizioni.[24] That same year, the snake—a motif that appeared in Bulgari collections from the 1960s—re-emerged as the emblem of the Serpenti collection.

In 2011, Bulgari signed a strategic alliance with LVMH Moet Hennessy Louis Vuitton SA, the world's leading luxury group. The agreement was based on a stock transfer of the Bulgari family's shares in Bulgari S.p.A. to LVMH, an all-share deal for €4.3 billion ($6.0 billion).[25] Under the deal, the Bulgari family sold their 50.4 per cent controlling stake in exchange for 3 per cent of LVMH, thereby becoming the second-biggest family shareholder behind the Arnaults in LVMH.[26] The takeover doubled the size of LVMH's watches and jewellery unit, which at the time of the acquisition included Tag Heuer timepieces and De Beers diamond necklaces. The acquisition concluded on 4 October 2011 as Bulgari was delisted from the Borsa Italiana. In 2014, Bulgari celebrated the 130th anniversary of the brand. To mark the occasion, the shop at Via Condotti 10 was "reimagined" by the architect Peter Marino, and reopened. On the same day, the brand donated €1.5 million to the city of Rome for the restoration of the Spanish Steps.[27] A few months after the Grand Opening, the DOMVS was inaugurated in the redesigned Bulgari boutique, creating a gallery space to house of Bulgari's Heritage Collection.[28]

In 2017, Bulgari opened a new jewellery manufacturing headquarters in Valenza. The largest in Europe, with a total area of 14,000 square metres (150,000 sq ft), the Manufacture has been given a Gold LEED (Leadership in Energy & Environmental Design) certification for sustainability in its design.[29] The facility was built over the former home of the first goldsmith in Valenza, Francesco Caramora. The buildings follow the model of a Roman domus, and are built around a central courtyard.[30]

In March 2024, the Bvlgari jewellery house officialized and announced the creation of the Fondazione Bvlgari, an institution that is an extension of the brand's founding values, particularly its commitment to safeguarding historical heritage.[31]

## Products

### Jewellery

### Watches

Bulgari watch

### Fragrances

File:BVLGARI LE GEMME REALI RUBINIA.tif

### Accessories and leather goods

## Bulgari hotels and resorts

Bulgari flagship, Fifth Avenue, Manhattan

In 2001, Bulgari formed a joint venture with The Ritz-Carlton Hotel Company, a hotel brand owned by Marriott International, to launch Bulgari Hotels & Resorts, a collection of hotels and resort destinations around the world.[32]

Although operated by The Ritz-Carlton Company, Bulgari hotels and resorts do not participate in the Marriott Bonvoy loyalty program, meaning guests can neither earn nor redeem points for free bookings. It is currently the only Marriott brand to practice this policy, following the inclusion of The Ritz-Carlton Reserve properties to the program in April 2022.[33]

### Accommodations

#### Historical

Year | Accommodation | North
America | 0Europe0 | Middle E.
& Africa | 0Asia &0
Pacific | Caribbean
Latin Am. |  | Total

|
|
|
|
|
|
|
|

2004 | Properties |  |  01 |  |  |  |  | 0001
Rooms |  | 00058 |  |  |  |  |  58
2005 | Properties |  |  01 |  |  |  |  | 0001
Rooms |  | 00058 |  |  |  |  |  58
2006[34] | Properties |  |  01 |  |  01 |  |  |  02
Rooms |  | 00058 |  | 00059 |  |  | 00117
2007[35] | Properties |  |  01 |  |  01 |  |  |  02
Rooms |  | 00058 |  | 00059 |  |  | 00117
2008[36] | Properties |  |  01 |  |  01 |  |  |  02
Rooms |  | 00058 |  | 00059 |  |  | 00117
2009[37] | Properties |  |  01 |  |  01 |  |  |  02
Rooms |  | 00058 |  | 00059 |  |  | 00117
2010[38] | Properties |  |  01 |  |  01 |  |  |  02
Rooms |  | 00058 |  | 00059 |  |  | 00117
2011[39] | Properties |  |  01 |  |  01 |  |  |  02
Rooms |  | 00058 |  | 00059 |  |  | 00117
2012[40] | Properties |  |  02 |  |  01 |  |  |  03
Rooms |  | 00143 |  | 00059 |  |  | 00202
2013[41] | Properties |  |  02 |  |  01 |  |  |  03
Rooms |  | 00143 |  | 00059 |  |  | 00202
2014[42] | Properties |  |  02 |  |  01 |  |  |  03
Rooms |  | 00143 |  | 00059 |  |  | 00202

#### From 2015

Year | Accommodation | North
America | 0Europe0 | Middle E.
& Africa | 0Asia &0
Pacific | Caribbean
Latin Am. |  | 0Total0

|
|
|
|
|
|
|
|

2015[43] | Properties |  |  02 |  |  01 |  |  |  03
Rooms |  | 00143 |  | 00059 |  |  |  202
2016[44] | Properties |  |  02 |  |  01 |  |  |  03
Rooms |  | 00143 |  | 00059 |  |  |  202
2017[45] | Properties |  |  02 |  01 |  02 |  |  |  05
Rooms |  | 00143 |  120 |  179 |  |  |  442
2018[46] | Properties |  |  02 |  01 |  03 |  |  |  06
Rooms |  | 00143 |  120 |  260 |  |  |  523
2019[47] | Properties |  |  02 |  01 |  03 |  |  |  06
Rooms |  | 00143 |  120 |  260 |  |  |  523
2020[48] | Properties |  |  02 |  01 |  03 |  |  |  06
Rooms |  | 00143 |  120 |  260 |  |  |  523
2021[49] | Properties |  |  03 |  01 |  03 |  |  |  07
Rooms |  | 00222 |  121 |  260 |  |  |  603
2022[50] | Properties |  |  03 |  01 |  03 |  |  |  07
Rooms |  | 00222 |  121 |  260 |  |  |  603
2023[51] | Properties |  |  04 |  01 |  04 |  |  |  09
Rooms |  | 00332 |  121 |  358 |  |  |  811

### Properties

#  | Hotel Name  | Hotel Location  | Country  | Opening Year

|
|
|
|

1  | Bulgari Hotel Beijing  | Beijing | China  | 2017[52]
2  | Bulgari Hotel London  | London | United Kingdom  | 2012[53]
3  | Bulgari Hotel Milano  | Milan  | Italy  | 2004[54]
4  | Bulgari Hotel Paris  | Paris | France  | 2021[55]
5  | Bulgari Hotel Roma  | Rome | Italy  | 2023[56]
6  | Bulgari Hotel Shanghai  | Shanghai | China  | 2018[57]
7  | Bulgari Hotel Tokyo  | Tokyo | Japan | 2023[58]
8  | Bulgari Resort Bali  | Bali | Indonesia  | 2006[59]
9  | Bulgari Resort Dubai  | Dubai  | United Arab Emirates | 2017[60]

## Shops

Bulgari Hong Kong Boutique

Bulgari has about 300 stores. The largest is the 10-storey Bulgari Ginza Tower in Tokyo, 940 square metres (10,100 sq ft) of retail floor space, including a restaurant and lounge bar.[61]

North American Bulgari boutiques (41 in the US) and distributors are found in Bal Harbour, Beverly Hills, Cabo San Lucas, Chicago, Costa Mesa, Honolulu, Houston, King of Prussia, Las Vegas (4 stores), Los Angeles, New York, Mexico City, Montreal, Orlando, Palm Beach, San Antonio, San Francisco, San Jose, San Juan, The Mall at Short Hills, Scottsdale, Toronto, Vail and Washington D.C.[62]

South American Bulgari distributors are found in Bogotá, Lima, Margarita Island, Quito and São Paulo.[63]

## Bulgari Art Award

The Bulgari Art Award is an annual art award in partnership with the Art Gallery of New South Wales, Sydney, Australia. Sponsored by Bulgari, the $50,000 acquisitive cash award plus $30,000 residency in Italy is presented to mid-career Australian artists.[64]

The winners include:

* 2012 – Michael Zavros
* 2013 – Jon Cattapan[65]
* 2014 – Daniel Boyd
* 2015 – Ildiko Kovacs
* 2016 – Jude Rae
* 2017 – Tomislav Nikolic[66]
* 2019 – Nusra Latif Qureshi[64]

## References

1. ↑ 1.0 1.1 1.2 "Annual Report 2010". Bulgari. http://ir.bulgari.com/~/media/Files/B/Bulgari-IR-2010/pdf/annual-report-2010v2.pdf?.
2. ↑ Wells, John C. (2008). Longman Pronunciation Dictionary (3rd ed.). Longman. ISBN 978-1-4058-8118-0.
3. ↑ 3.0 3.1 "Sotirios Voulgaris: the Greek behind Bulgari – NEO Magazine" (in en-US). https://www.neomagazine.com/2020/03/sotirios-voulgaris-the-greek-behind-bulgari/.
4. ↑ "Head of Italian luxury goods firm says new hotel venture will boost profits". 13 February 2011. https://money.cnn.com/2001/02/13/europe/bulgari/.
5. ↑ 5.0 5.1 "Fashion Brands: Bulgari". https://www.fashionmodeldirectory.com/brands/bulgari/.
6. ↑ "The Bulgari logo". http://www.museodelmarchioitaliano.com/route1/bulgari.php.
7. ↑ 7.0 7.1 7.2 7.3 Triossi, Amanda; Mascetti, Daniela (2009). BVLGARI. Milan: Electa. pp. 9–17. ISBN 978-8-8370-6492-1.
8. ↑ 8.0 8.1 ""Булгари" да се наричам първа радост е за мене". Trud. http://www.trud.bg/Article.asp?ArticleId=788706.
9. ↑ ""Булгари" да се наричам първа радост е за мене - trud.bg". http://www.trud.bg/Article.asp?ArticleId=788706.
10. ↑ Stefanos Konstantinos, Voulgaris (April 2010). Ek Voulgareōn: hena oikogeneiako chroniko: plērophories gia tē mesaiōnikē Valkanikē. Bookstore of "Estia", I.D. Collarou & Sias. ISBN 978-9-6005-1321-9. https://books.google.com/books?id=7SNgewAACAAJ&q=Εκ+Βουλγάρεων+Ένα+ανέκδοτο+οικογενειακό+χρονικό:+Πληροφορίες+για+τη+μεσαιωνική+βαλκανική.
11. ↑ Danova, Penka (2015). "Le fonti della cronaca Bulgari" (in Italian). Études Balkaniques (2): 5–34. https://www.ceeol.com/search/article-detail?id=305359.
12. ↑ "Βούλγαρης Γ. Σωτήριος "Ο κοσμηματοπώλης των βασιλέων"" (in el-gr). Reporter. 23 January 2014. https://www.reporter.gr/Apopseis/235596-Boylgarhs-G-Swthrios-«O-kosmhmatopwlhs-twn-basilewn». Retrieved 14 May 2019.
13. ↑ Korp, Barbara (19 June 2023). "Bvlgari Serpenti: Celebrating an Icon". https://www.chrono24.com/magazine/bvlgari-serpenti-celebrating-an-icon-p_113737/.
14. ↑ Meylan, Vincent (2015). Roma Passion Jewels: Talking with Paolo and Nicola Bulgari. Milan: Mondadori Electa. ISBN 978-8-8918-0454-9.
15. ↑ Doerr, Sabrina (2015-08-20). "Bulgari's Beloved Serpenti: A Brief History" (in en-US). https://quillandpad.com/2015/08/20/bulgaris-beloved-serpenti-a-brief-history/.
16. ↑ "Bulgari: the man, the enigma". The Age (Melbourne). 8 January 2007. http://www.theage.com.au/news/people/bulgari-the-man-the-enigma/2007/01/07/1168104862949.html?page=fullpage#contentSwap1.
17. ↑ Bates, Rob (15 February 2024). "Acclaimed Designer Marina B Dies" (in en-US). https://www.jckonline.com/editorial-article/acclaimed-designer-marina-b-dies/.
18. ↑ "70 eclectic creativity". https://www.bulgari.com/en-us/70_eclectic_creativity.
19. ↑ "Gianni Bulgari". http://www.enigma.info/enigma/gianni-bulgari.
20. ↑ "THE HISTORY OF BVLGARI". http://www.swisstime.ch/en-BVLGARI-m382.html.
21. ↑ "Bulgari S.p.A.". International Directory of Company Histories. 106. St. James Press. 2010.
22. ↑ "Bulgari To Acquire Gerald Genta And Daniel Roth". 5 July 2000. http://www.fhs.swiss/eng/2000-07-05_44.html.
23. ↑ "Bulgari Acquires 100% Of Crova". 3 January 2005. https://www.diamonds.net/News/NewsItem.aspx?ArticleID=11068&ArticleTitle=Bulgari+Acquires+100%+Of+Crova.
24. ↑ "Bulgari. Tra Eternità E Storia. 125 Anni Di Gioelli Italiani" (in Italian). 22 May 2009. https://www.palazzoesposizioni.it/mostra/bulgari-tra-eternita-e-storia-125-anni-di-gioielli-italiani.
25. ↑ Roberts, Andrew; Lachapelle, Tara (7 March 2011). "Bulgari Takeover 82% Costlier Than Hermes for LVMH: Real M&A". Bloomberg BusinessWeek. http://www.businessweek.com/news/2011-03-07/bulgari-takeover-82-costlier-than-hermes-for-lvmh-real-m-a.html. Retrieved 1 December 2021.
26. ↑ Betts, Paul (7 March 2011). "Bulgari is new jewel in LVMH crown". Financial Times (London). https://www.ft.com/content/9f3fdab0-48e8-11e0-af8c-00144feab49a.
27. ↑ "Bulgari's Spanish Steps donation a €1.5m 'gift' to the people of Rome". The Guardian. Agence France-Presse (London). 20 March 2014. https://www.theguardian.com/world/2014/mar/20/bulgari-spanish-steps-donation-gift-people-rome-jeweller.
28. ↑ "Bulgari inaugura una Domus per collezioni storiche e gioielli delle star". Corriere della Sera (Milan). 24 October 2014. https://www.corriere.it/moda/news/14_ottobre_24/bulgari-inaugura-domus-collezioni-storiche-gioielli-star-f6e995a8-5ba4-11e4-b4f3-89f9b4fdb64e.shtml.
29. ↑ "Maniffattura Bulgari". 11 July 2017. https://www.usgbc.org/projects/manifattura-bulgari.
30. ↑ Beckett, Kathleen (30 March 2017). "Bulgari Creates a New Jewelry-Making Center". The New York Times. https://www.nytimes.com/2017/03/30/fashion/jewelry-bulgari.html.
31. ↑ "Bulgari annonce le lancement de sa Fondation.". 27 March 2024. https://www.journalduluxe.fr/fr/montres-joaillerie/bulgari-fondation-fondazione-bvlgari.
32. ↑ Ricci, Manfredi; Robins, Rebecca (26 April 2012). Meta-luxury, Brands and the Culture of Excellence. Palgrave Macmillan. p. PT91. ISBN 978-1-1370-0566-3. https://books.google.com/books?id=eKt0zNN4_8cC&pg=PAPT91. Retrieved 2 December 2021.
33. ↑ "Bulgari Hotels Sees Unhurried Growth as a Way to Retain Its Cachet". 12 April 2023. https://skift.com/2023/04/12/bulgari-hotels-sees-unhurried-growth-as-a-way-to-retain-its-cachet.
34. ↑ "2006 Annual Report". p. 20. https://marriott.gcs-web.com/static-files/b1505eb9-6f4f-4a18-8702-f28c2090e06d.
35. ↑ "2007 Annual Report". p. 26. https://marriott.gcs-web.com/static-files/e72a1f72-bdd4-4a11-8fba-2d9271de033c.
36. ↑ "2008 Annual Report". p. 22. https://marriott.gcs-web.com/static-files/98c00f47-7670-450b-af25-2b9ab6259f9d.
37. ↑ "2009 Annual Report". p. 19. https://marriott.gcs-web.com/static-files/ede1ad89-f610-4636-aff1-727342f21443.
38. ↑ "2010 Annual Report". p. 18. https://marriott.gcs-web.com/static-files/6551bd7e-1170-455e-9fcb-6e00e8696c77.
39. ↑ "2011 Annual Report". p. 19. https://marriott.gcs-web.com/static-files/46aef136-7335-4f34-89d6-0f07e3e63197.
40. ↑ "2012 Annual Report". p. 22. https://marriott.gcs-web.com/static-files/a12da0f5-a361-4118-8a02-f8d233cf49cb.
41. ↑ "2013 Annual Report". p. 20. https://marriott.gcs-web.com/static-files/b490de22-4736-4512-a249-7deb9d2102f6.
42. ↑ "2014 Annual Report". p. 17. https://marriott.gcs-web.com/static-files/f8b0b55a-a725-4b1c-9be2-12f4d3d5a556.
43. ↑ "2015 Annual Report". p. 5. https://marriott.gcs-web.com/static-files/6e94bd56-7bf0-46d8-be16-9ee79234e0ff.
44. ↑ "2016 Annual Report". p. 7. https://marriott.gcs-web.com/static-files/ff009de0-7abe-4813-9342-f4d8e33b87d2.
45. ↑ "2017 Annual Report". p. 7. https://marriott.gcs-web.com/static-files/057a8e1a-a5c5-4c20-a51c-0b20bf8a0bc1.
46. ↑ "2018 Annual Report". p. 6. https://marriott.gcs-web.com/static-files/8799734e-b9e0-4e53-b194-7bd24a381118.
47. ↑ "2019 Annual Report". p. 6. https://marriott.gcs-web.com/static-files/178683c9-c9d9-47b0-b115-726588f43130.
48. ↑ "2020 Annual Report". p. 8. https://marriott.gcs-web.com/static-files/c5e1faef-f1e5-40e3-bd70-5efbbb929a7f.
49. ↑ "2021 Annual Report". p. 6. https://marriott.gcs-web.com/static-files/33ba0a19-8a68-4f3f-9f73-fef2c458c22e.
50. ↑ "2022 Annual Report". p. 6. https://marriott.gcs-web.com/static-files/c0fb865c-15b1-4166-9846-49b548da1ce4.
51. ↑ "2023 Annual Report". p. 6. https://marriott.gcs-web.com/static-files/b82978a6-9d28-4e38-9855-fc4ae2cebe11.
52. ↑ "Bulgari Hotel Beijing to Open on September 27". 8 August 2017. https://www.luxurytraveladvisor.com/hotels/bvlgari-adds-a-fourth-jewel-to-its-hospitality-collection.
53. ↑ "Bulgari to Open London Hotel in 2012". 14 February 2011. https://wwd.com/feature/bulgari-to-open-london-hotel-in-2012-3485656-945679/.
54. ↑ "Bulgari's First Ever Hotel is An Impressive 58-room Establishment Aiming to be the Town Jewel". 19 January 2007. https://officialbespoke.co/bulgari-hotel-milano/.
55. ↑ "Bulgari Hotels Just Opened Their First Paris Outpost, and It's Just As Chic As You'd Expect". 2 December 2021. https://www.travelandleisure.com/hotels-resorts/luxury-hotels/bulgari-hotel-paris-opening.
56. ↑ "Bulgari Inaugurates Luxury Hotel in Rome: A Historic Homecoming". 11 June 2023. https://pursuitist.com/bulgari-inaugurates-luxury-hotel-in-rome-a-historic-homecoming/.
57. ↑ "The Bvlgari Hotel Shanghai Opens". 2 July 2018. https://www.luxurytraveladvisor.com/bvlgari-hotel-shanghai-opens.
58. ↑ "Bulgari Hotel Tokyo Opens". 5 April 2023. https://www.hospitalitynet.org/announcement/41009379.html.
59. ↑ "Bulgari Resort, Bali to Open in October 2006". 31 May 2006. https://www.fivestaralliance.com/articles/bulgari-resort-bali-open-in-october-2006.
60. ↑ "First Bulgari hotel in Dubai confirms opening date". 31 October 2017. https://gulfnews.com/business/property/first-bulgari-hotel-in-dubai-confirms-opening-date-1.2115975.
61. ↑ "Tokyo – Bulgari opens the Ginza Tower". https://www.europastar.com/news/1003686090-tokyo-bulgari-opens-the-ginza-tower.html.
62. ↑ "Find a Store". https://www.bulgari.com/en-us/storelocator/united+states.
63. ↑ "Etienne Kusmierek, Director Latin America, Bulgari". https://internationalistevents.com/LatinAmerican50/Kusmierek.html.
64. ↑ 64.0 64.1 "Bulgari Art Award". https://www.artgallery.nsw.gov.au/artsets/ftaeud.
65. ↑ Harford, Sonia (12 April 2013). "Sweet win for artist seeking refuge in discards of modern life" (in en). https://www.theage.com.au/entertainment/art-and-design/sweet-win-for-artist-seeking-refuge-in-discards-of-modern-life-20130412-2hqye.html.
66. ↑ Blake, Elissa (27 April 2017). "Bulgari Art Award 2017: Tomislav Nikolic". Sydney Morning Herald. https://www.smh.com.au/entertainment/art-and-design/bulgari-art-award-2017-tomislav-nikolic-sees-red-20170427-gvtmnd.html.

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