How Bulgari Cheapens A $10,000 Watch
Ryan Tate · 12/08/08 02:16AMMemo to luxury good companies: Now is not the time to start cheapening your image or, worse yet, ripping off your wealthiest customers, like Bulgari seems to be doing. As the rich try to seem fashionably frugal, thus damaging the economy for everyone, it seems they are buying fewer emerald-and-sapphire-encrusted watches. Bulgari is loath to reduce prices — "that is totally wrong" for the brand, the CEO tells the Times — but to save money it is cutting corners on its products. Which, as Anna Wintour recently told everyone, is a dumb idea.