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Bottega Veneta news and archive

Business

Some luxury brands are beating Q3 exceptions

Last week LVMH set a precedent for other luxury groups when it posted double digit growth for its fashion and accessories businesses in Q3. While in the first nine months organic revenue declined by 11 percent, due to global lockdown measures and store closures, the third quarter saw a strong rebound in activity, with a growth of 12 percent....

23 Oct 2020

Retail

How shoppers will see out the rest of 2020

It has been just over six months since the start of global lockdowns. A battered and bruised retail industry has been slow to recalibrate and recover from the grip of Covid-19. Even after physical retailers reopened this past June in the UK, others in the US are only just now returning to pre-pandemic business hours. Many global heavyweights,...

21 Sep 2020

Business

Kering posts worst quarterly sales on record

The Asia rebound for luxury goods demand didn’t buy LVMH, which saw a loss of 68 percent in revenue in the second quarter. It also didn’t boost Kering’s sales, which posted a loss of 43.7 percent to 2.175 billion dollars compared to the same period last year. Kering said consolidated revenue of 5.38 billion in H1 was down 30.1 percent. on a...

29 Jul 2020

Business

Kering Q1 hit hard by Covid-19, sales down 15 percent

French luxury conglomerate Kering, whose portfolio includes brands Gucci, Yves Saint Laurent and Bottega Veneta, has revealed the extent to which Covid-19 has impacted the business in the first quarter of the year. The group’s revenue fell by 15.4 percent on a reported basis and 16.4 percent on a comparable basis to 3.2 to billion euros, with...

22 Apr 2020

Business

Italy on lockdown, the fashion industry must prepare for losses

Italy on Sunday followed in the footsteps of China, putting a vast area amid the coronavirus outbreak in lockdown. The company’s wealthy Lombardy region, which includes Milan, Venice and is home to luxury brands Bottega Veneta, Prada, Versace, Giorgio Armani and Dolce & Gabbana, has effectively banned 16 million people from traveling in and out...

9 Mar 2020

Fashion

5 Takeaways from Milan Fashion Week

After New York and London, two relatively lacklustre fashion weeks, all eyes were on Milan to deliver a jolt of excitement. It has been a challenging season so far under the black cloud of an uncontainable coronavirus that is widely expected to ricochet the bottom line of brands globally, as the forecast of declining sales in China extends...

24 Feb 2020

Retail

New Amazon-owned site is selling luxury fashion

One wouldn’t be alone in thinking designer brands and Amazon do not make equal pairings, yet the online retail behemoth has secretly been operating a luxury site since autumn. In September a new e-commerce store called VRSNL, pronounced ‘versional’, launched without any fanfare or promotional marketing campaign. Operated by Zappas, a subsidiary...

14 Feb 2020

Business

Kering's luxury houses and core markets drive strong revenue growth in 2019

Consolidated revenue at Kering amounted to 15,883.5 million euros (17,321 million dollars) in 2019, up 16.2 percent as reported and 13.3 percent on a comparable basis fuelled by growth across all regions. The company said in a statement, gross margin was 11,775 million euros (12,840 million dollars), up 15.5 percent on 2018, while EBITDA rose...

12 Feb 2020

Business

US to crack down on counterfeit goods

The Department of Homeland Security (DHS) has released its first report on combatting counterfeit and pirated goods into Amercia. Its memorandum comes as apparel, accessories, hangbags, watches and jewellery are the top four category items seized in 2018, 56 percent of the year’s annual seizure statistics. The first-ever report outlines a series...

27 Jan 2020

Fashion

It Bags of 2019

The It Bag is not dead. Despite a dip in global handbag sales, and industry experts saying that Instagram killed the It Bag, consumers still love a good handbag. Brands like Hermès and Gabriela Hearst still have waiting lists for certain bags, proving that the demand for a top quality luxury handbag has not waned. From minimalist details to...

31 Dec 2019

Culture

A showcase for luxury brands called Art Basel Miami Beach

This week the inaugural art festival, Art Basel Miami Beach, has been taking place. The event brought together more than 250 of the main art galleries from all corners of the world beginning on December 3 and ending on December 8. The event draws in more than 70,000 visitors during a week dedicated to art lovers and collectors, that also has no...

6 Dec 2019

Fashion

Bottega Veneta wins big at The Fashion Awards

The British Fashion Council hosted its annual The Fashion Awards last night (December 2) at the Royal Albert Hall in London and luxury Italian label Bottega Veneta was the big winner of the evening, scooping four awards. 2019 certainly belongs to British fashion designer Daniel Lee, who was named Accessories Designer of the Year, British...

3 Dec 2019