As Margaret Brennan reports, Italy's Bulgari has targeted the U.S. for aggressive expansion. The U.S. already accounts for 30% of the company's sales, but the Rome-based company just refurbished its flagship New York City store and plans additional stores. The company is also considering expanding into malls and high-end department stores.
Richemont's Cartier and U.S.-based Tiffany are also expanding. Tiffany, for instance, plans five to seven stores in the Midwest -- all 5,000 square feet.
Saks is looking to create branded jewelry, working with the likes of Chanel and Gucci to compete in the lucrative market.