Keeping European identity is key to growth – Bottega - leatherbiz: Lea Leatherbiz

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Keeping European identity is key to growth – Bottega Veneta

15/02/2013
High-end leathergoods brand Bottega Veneta plans to increase its retail network by 10% to 15% this year, and is opening an equal number of stores in Europe and Asia.

While sales are growing at a faster rate in China, its chief executive said it is vital that Asian customers see a company’s strength in Europe if they are to buy into the brand.

Also, half of its sales in Europe are to Chinese tourists, looking to pay less than in their country, where prices are inflated by tax.

Bottega Veneta’s leather totes start at about  €5,000, and it is luxury group PPR’s most profitable brand.

The retailer opened 26 shops in 2012 and runs 196 boutiques. Its sales rose 52% in China, 37% in Europe, the Middle East and Africa, and 27% in the US.

It will open its largest boutique this year in Milan. At 1,000 square metres it will dwarf most of its boutiques, which average 140 square metres.


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