Bulgari jewelry sales rose 12 percent to $153.6 million (or 18 percent without factoring currency losses of the dollar and yen against the EURO.) Sales of watches rose 6 percent to $101.2 million, but sales of accessories fell 12 percent to $26.7 million.

Sales across Europe rose 7 percent to EUR98 million ($134 million) and rose 41 percent to EUR49 million ($67 million) in the Americas. Sales across Asia fell 3 percent to EUR100 million ($137 million.)

"The distribution strategy of focusing on major new store openings and enlarging and modernizing existing shops has already contributed to the very good performance registered in Europe and in the U.S., compared to the guidance given to the market," Bulgari CEO Francesco Trapani said of the results.