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The jeweler said it “struggled to gain traction” in the United States following a change in leadership and marketing strategy.
The U.S. Department of Commerce revised its figure for overall jewelry sales in 2016 upward, to $85 billion.
Second-quarter sales were down 2 percent in the United States, due in part to a 5 percent drop in mall traffic.
Sales of Bulgari jewelry and watches were particularly strong thanks to Serpenti, B.zero1 and the new high-end Festa collection.
The jeweler, which is under new leadership in the U.S., said changes to its marketing strategy “didn’t deliver.”
National Jeweler

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Since 1906, National Jeweler has been the must-read news source for smart jewelry professionals--jewelry retailers, designers, buyers, manufacturers, and suppliers. From market analysis to emerging jewelry trends, we cover the important industry topics vital to the everyday success of jewelry professionals worldwide. National Jeweler delivers the most urgent jewelry news necessary for running your day-to-day jewelry business here, and via our daily e-newsletter, website and other specialty publications, such as "The State of the Majors." National Jeweler is published by Jewelers of America, the leading nonprofit jewelry association in the United States.