Monday, 1 March 2010
In our second positive story for the morning, we’re happy to report that Bottega Veneta is the rising star within PPR's stable at the moment, after overhauling their production process.
Bottega Veneta caught our attention earlier in the year (see our report: The Secret To Bottega Veneta’s Success) due to their commitment to traditional craftsmanship.
Today, however, an article in the Wall Street Journal has revealed just how successful the brand has become; "Since Gucci acquired it in 2001, Bottega's sales, which are mostly driven by bags, have grown tenfold to €402 million ($AU 611 million) last year, causing it to leapfrog over Yves Saint Laurent to become Gucci's second-largest brand in sales, behind only the namesake Gucci label."
This article also says, "With its understated design —the bags have no logos— Bottega meshes with consumers' current desire for understated luxury,” and "in terms of style, they're in sync with the market". So, unless something goes disastrously wrong at fashion week, it seems the sky is the limit for this fashion house…
Who's behind the MO DOWN
Melinda O’Rourke is the founder and Director of MO Luxury, a dynamic, Sydney-based management firm specialising in luxury brands and services. Melinda and her associates at MO work with local and international brands across prestige retail, fashion, fine jewellery, timepieces and specialised services. Melinda is well-connected, well-read, and well-versed in the demands of the luxury market and its client base. Her advice is firmly based in objectivity and ultimately, accountability. Melinda offers constructive counsel and both strategic and creative thinking and is able to draw upon a strong network of specialised talent to compliment the MO Luxury team as needed. Melinda enjoys excellent industry relationships and is regularly quoted in the business and fashion media. Read more about MO Luxury, www.moluxury.com.au