Published
Oct 29, 2013
Reading time
2 minutes
Download
Download the article
Print
Text size

Bottega Veneta posts record results in third quarter

Published
Oct 29, 2013

Bottega Veneta stands to end 2013 on a good note following record third quarter results, showing signs that the label could reach 1 billion euros in sales by the end of the year. Owned by French conglomerate Kering, the Italian brand ended the period with 259.3 million euros in sales, an increase of 16% on the previous year.

For the first nine months of the year, the Bottega Veneta totaled 724.9 million in sales, up 14% on the same period for the previous year, leaving the company feeling optimistic for the end of the year.

Bottega Veneta SS14 | Source: PixelFormula


The company’s retail activity saw the biggest jump, with an increase of 18% in this channel for its third quarter 2013. Direct distribution accounts for 80% of business at Bottega Veneta and since the end of 2012 the company has upped its total number of stores from 196 to 215.

After keeping quiet on figures for its second quarter, the company posted a 9% increase in wholesale sales for the third quarter in 2013. Sales increased in all geographical regions according to the brand, though no specific markets where pinpointed.

“We are very satisfied with our performance over the course of the past nine months, particularly for the third quarter which has been an important one in the history of Bottega Veneta,” said Marco Bizzarri, president and CEO.

Between July and September 2013, the brand ended two important projects, the first opening its first Maison Bottege Veneta store, a 1000m² in the heart of Milan and the installation of a new leather workshop in the historical Montebello Vicentino, near to Venice.

Copyright © 2024 FashionNetwork.com All rights reserved.