Bottega Veneta Profits Boom

BOTTEGA VENETA saw a 46.7 per cent boost in operating profits in 2012, rising to €300 million (£259 million), compared to €204 million (£177 million) in 2011. The Italian label reported annual sales of €945.1 million (£817 million), increasing 38.5 per cent from €682.6 million (£590 million), the previous year.

"I attribute this to a combination of our type of product, an extraordinary creative director [Tomas Maier], which eases my work, and strategic choices in line with the brand," Bottega Veneta president and CEO Marco Bizzarri told WWD. "We have been consistently focused on uncompromising strategies, and we took no shortcuts to pump up our sales."

Leather goods account for 85 per cent of the label's sales, although ready-to-wear is growing. The PPR-owned brand will open its second store in Milan in the next coming year - an expansive space, covering 7,560-square-feet, and will open its first Los Angeles retail outlet in April.


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ELLA ALEXANDER | FEBRUARY 22, 2013  | Article Link