Bulgari Expands Italian Factory as Jewelry Shines at LVMH

By Rob Bates | April 17, 2025

Bulgari has opened what it calls the “largest single-brand jewelry manufacturing site in the world,” doubling the capacity of its factory in Valenza, Italy—fitting for a time when jewelry has proved a bright spot for parent company LVMH.

The luxury jewelry brand has expanded its Manifattura Bvlgari in Valenza, by over 200,000 square feet, to 355,200 square feet. Bulgari plans to hire more than 500 new artisans for the factory and employ a total of 1,600 people there by 2029. The expansion is powered by renewable energy, so its operations will be carbon-neutral, according to Bulgari.

The newly enlarged facility will host Scuola Bvlgari, the company’s new jewelry-focused training school.

Bulgari CEO Jean-Christophe Babin said in a statement that the supersized factory “is a milestone in Bvlgari’s vertical integration strategy, aiming to oversee the entire production process within a workplace that fosters continuous innovation and improvement. With artisans from more than 30 different nationalities, Manifattura Bvlgari is a vibrant crossroads of cultures, fueled by a shared passion for excellence.”

In related news, Bulgari owner LVMH singled out jewelry and watches as its best-performing category during the first quarter of 2025. Watch and jewelry revenue rose 1% during the period, while the conglomerate’s overall revenue fell 2%.

On an April 14 earnings call following the release of its first-quarter results, LVMH chief financial officer Cécile Cabanis credited the jewelry category’s strength in part to Tiffany’s ongoing “transformation.” She noted that 27% of the retailer’s stores had been remodeled and the “renovated stores are performing very well.”

When asked if tariffs will force the company to boost prices, Cabanis indicated that was possible.

“We use prices sometimes to offset inflation, moderately, sometimes, if there is some swing in currencies,” she said, according to a SeekingAlpha transcript. “In the case of tariffs, it’s a lever that we are going to consider. What you have to take into account is that it’s not one-size-fits-all, because we have very different brands, very different models. So it’s something that is done by the maison on a very precise basis to make sure that what we do is competitive and serve the brand.”

Overall, the conglomerate’s results were below expectations. Analysts noted that luxury brand Hermès—which LVMH once tried to take over—now tops LVMH in market value.

Top: The newly expanded Bulgari factory in Italy (photo courtesy of Bulgari)