Bottega Veneta | Success Story of the Illustrious Fashion Label
Bottega Veneta is a luxury fashion brand from Italy. Headquartered in Milan, the brand offers its customers a wide range of ready-to-wear, handbags, shoes, jewelry, fragrances, and accessories. Michele Taddei and Renzo Zengiaro founded the brand in 1966 in Vicenza, Veneto. Bottega Veneta is famous for its superlative craftsmanship, elegant designs, and timeless pieces. The brand has more than 250 stores worldwide. It is one of the most influential brands of the century.
Bottega Veneta started in 1966 as a premium leather goods store. Famous for its fine leather and exclusive designs, Bottega Veneta started gaining recognition during the 1980s. Kering, a multi-national luxury products corporation, purchased Bottega Veneta in 2001. In 2020, the brand generated sales worth 1.140 billion euros. A-list celebrities like Rihanna, Dua Lipa, Jennifer Hudson, Deepika Padukone, Miley Cyrus, Hailey Beiber, Kylie Jenner, Kim Kardashian, Victoria Beckham, and Cameron Diaz have endorsed the brand.
Michele Taddei and Renzo Zengiaro, two entrepreneurs from Italy, founded Bottega Veneta in 1966. At the time, leather goods craftsmanship was not an old tradition. The two established the company as a leather accessories brand with supreme craftsmanship. Initially, the brand used to manufacture its leather goods with sewing machines. However, it was challenging to craft leather with a sewing machine. As a result, the company’s artisans started using exceptionally smooth leather for creating its products. In order to fit into the sewing machines, fine leather was woven into intertwined patterns. Through the intertwined pattern, the brand created a signature design while making the fine leather stronger. Soon, the brand started gaining recognition for its excellent craftsmanship.
During the early 1970s, Bottega Veneta became popular across Italy. Following that, the brand started an advertisement campaign. The advert’s slogan was, “When your own initials are enough.” Later in 1972, Bottega Veneta opened its first store in New York City, USA. However, soon after that, the brand’s sales started declining. As a result, the company’s founder, Michele Taddei, exited the brand. Soon after that, the brand’s co-founder Renzo Zengiaro left too. Michele handed the company to his wife, Laura Braggion, who later managed the company with her second husband. In the mid-1970s, the brand launched a shoe line. However, the company couldn’t make substantial profits.
Pathway to Success
Under Laura and her husband’s management, the brand gradually started to grow. Initially, Laura served as the creative director of Bottega Veneta. After gaining the brand’s proprietorship, Laura moved to New York with her second husband, Vittorio Moltedo. During the 1980s, the brand gained recognition among women. Bottega Veneta’s premium and elegant designs started taking over the fashion industry. Soon, renowned American film director and producer Andy Warhol became a regular customer of Bottega Veneta. Simultaneously, the brand started gaining recognition among celebrities. After that, Andy Warhol made a short film about the brand. However, during the 1990s, after garnering considerable acclaim, the brand’s sales began declining again. It was due to changes in its signature minimalist designs.
Reconstruction of Bottega Veneta
After incurring significant losses, Laura decided to reconstruct the company. Consequently, she hired Giles Deacon, a British fashion designer, to reform the brand. Under Giles Deacon’s supervision, the company launched a successful ready-to-wear clothing line. Soon, the brand started regaining its prestigious image. As a result, Kering, formerly known as Pinault-Printemps-Redoute, a multi-national corporation of luxury goods, acquired Bottega Veneta in 2001. After that, Giles Deacon was replaced by Tomas Maier, a German fashion designer. With Tomas’ arrival, the brand underwent significant changes. Within ten years, the brand’s profits increased by 800%.
In the 2000s, Bottega Veneta launched clothing, footwear, accessories, perfumes, and jewelry. Later, the brand launched homeware and furnishing products. During Tomas’ seventeen-year-long career at Bottega Veneta, he redefined the brand and made it one of the most prominent luxury brands in the world. In 2018, after Tomas resigned from the post of creative director, Daniel Lee, an English fashion designer, took his place. After Daniel’s arrival, the brand achieved revolutionary success. He developed Bottega Veneta’s ready-to-wear, menswear, and homeware collection. However, the most iconic creation by Daniel Lee was the Pouch Bag. He unveiled the phenomenal Pouch Bag in 2019 during Bottega Veneta’s Spring Collection. The bag ended up becoming the fastest-selling bag in the history of Bottega Veneta. A-list celebrities like Hailey Beiber, Meghan Markle, Rihanna, and Victoria Beckham have endorsed the bag. Presently, Bottega Veneta is considered one of the world’s most elegant and luxurious brands.
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Who is the CEO of Bottega Veneta?
Bartolomeo Rongone is the CEO of Bottega Veneta since 2019. Earlier, Bartolomeo Rongone was the Cheif Operating Officer of the renowned luxury house Yves Saint Laurent. Born in Italy, Rongone joined the luxury goods conglomerate Kering in 2012.
What is the net worth of Bottega Veneta?
Bottega Veneta’s net worth is estimated to be $230 million. The brand is famous for its excellent craftsmanship, timeless designs, and superlative leather quality. It offers a wide range of handbags, ready-to-wear, jewelry, perfumes, and shoes.
Why is Bottega Veneta so expensive?
Bottega Veneta is an Italian Luxury house. Most of its products are handcrafted by highly trained artisans. The brand’s signature intertwined weave design requires considerable time, skills, and physical strength.