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For this project led by Lelio Gavazza, Executive VP of Sales & Retail at Bulgari, focusing on brand development in the Chinese market, we have divided our tasks into two main groups: 1: Study the Brand - Conduct a comprehensive analysis of the Bulgari brand, including its values, product offerings, and target audience. - Identify the unique selling points and competitive advantages of the brand in the Chinese market. - Research consumer trends and preferences in China to align the brand with local tastes and preferences. - Understand the cultural and social factors that may impact brand perception and purchasing decisions in China. 2: Define Distribution Strategy for the Next 3 Years - Assuming we already have an established office and team in China, our focus will be on expanding the network. - Determine the number and location of stores to be opened in the market, both in total and on an annual basis. - Identify specific cities in China that are well-suited for Bulgari's market expansion. - Decide on optimum locations for flagship stores, limiting the number to no more than two. - Determine the average size of stores in each city, considering factors such as market demand, rental costs, and customer traffic. - Decide whether the stores will follow a Direct-Owned and Operated Store (DOS) or Franchise (FR) model, based on factors such as control, profitability, and brand consistency. - Select the merchandise assortment to be offered in the stores, ensuring it aligns with the brand's image and meets the preferences of Chinese customers. - Consider the construction costs, which can range from 400 euros/sqm for local brands to 10,000 euros/sqm for high-end international luxury brands, and devise a strategy on how to allocate the available budget and request necessary capital expenditure (capex) support from shareholders.

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