Bulgari Denies Company for Sale

Despite speculation that luxury jeweler Bulgari is up for grabs, chief executive Francesco Trapani says that there are no plans to sell the family controlled company. According to rumors, LVMH Moet Hennessy Louis Vuitton, PPR and Richemont would each like to acquire the company.    

Trapani and his two uncles, Paolo and Nicola Bulgari, own a combined 52 percent stake in Bulgari. “For twenty years the family has been in control, and we are not going to sell next month,” Trapani said in an interview with Le Figaro, reports Forbes.

“I can't say what will happen in ten years, but for now it is not under consideration.”

“It's true that buying Bulgari would be interesting for LVMH, whose watch and jewelry division is small. Swatch also could be interested because they don't have many luxury brands," he told the French paper, adding that “Richemont would be very worried to see somebody buy us.”

“But all that is theoretical," Trapani said. "We are not negotiating with anyone.”