Bottega Veneta CEO outlines strategy to boost revenue
03/06/2016
Speaking in an interview with fashion website Business of Fashion, Mr Beretta, who replaced Marco Bizzarri as CEO of the company in 2015, indicated that an expansion into new markets and building stronger customer relationships would be key to boosting revenue.
The Kering-owned brand hit the €1 billion annual revenue milestone in 2013 but suffered a slowdown in growth in 2015 due to the drop in tourism across Europe, as was the case for many luxury brands. Total revenue in 2015 was €1.286 billion.
“The first pillar [for growth] is, for sure, expanding into new categories - but not only this. The strong focus on the local customer is the second pillar. Today, we have to consider more the weight on the nationality than the weight on the region. The key point is to focus on the Chinese customer, to focus on the Japanese customer, to focus on the Americans, wherever they are shopping. This is an extremely big change,” said Mr Beretta.
He added that it was important to build strong relationships with customers, saying it was crucial to make them feel like they were getting a personalised service. This attention to each customer’s needs must also extend to online shopping, he insisted.
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