PARIS (Reuters) rapid Bottega Veneta, Kering’s No . 2 top quality brand in terms of sales, is delaying the pace of shop possibilities to preserve exclusivity, and plans to spotlight enlarging and improving the efficient of its existing stores, its upper body said.
The Italian brand noted for its “intrecciato”, a weaving concerning leather stripes that makes its coin purses supple, robust and recognizable, is definitely one of Kering’s main growth motors, helping make up for slower growth in sister brand Gucci. Bottega Veneta can be another relatively logo-free brand, which means that the particular suffers less than Gucci or more spacious rival Louis Vuitton iPhone 6 flip case, owned by LVMH, from consumers’ growing preference to get more discreet labeling. Gucci and Lv have also been hit by excessive enlargement and are now trying to regain distinct exclusivity by moving upmarket, selling more expensive leather bags and springing to life fewer shops. “We need to properly balance retail expansion and uniqueness, which is one of the biggest topics in the top quality goods industry today, ” Bottega veneta handbags Chief Executive Marco Bizzarri told Reuters news agency in an interview. “The ubiquity spend, Bottega Veneta is dealing with it. “Created in 1966 in Vicenza, Bottega veneta handbags saw sales soar to about 1 billion euros ($1. 39 billion) last year from 402 thousand in 2009. Sales rose nearly fourteen percent on a like-for-like basis having 2013, while Gucci’s nudged ideal 2 . 2 percent higher and thus were negative on a same-store rationale. When Kering bought the brand having 2001, it was loss-making and made rétribution of 35 million euros. “Business trends are positive for Bottega veneta handbags, ” Bizzarri said. “We spot no slowing of demand, having China or elsewhere. “Bottega Veneta recorded 25 net store possibilities in 2013. Bizzarri said may possibly open fewer boutiques this year, still , he declined to give a precise statue. He said Bottega Veneta would choose enlarging existing spaces, mainly having top fashion capitals and the spot that the brand could tap demand in emerging market tourists, the biggest as well as of luxury goods. He told he planned to reinforce its attractiveness mainly in Europe as he regarded as the brand needed “to be formidable where it comes from”. Bigger supermarkets would enable Bottega Veneta, often rebuked by analysts as being too dependent on leather goods, to display promote a wider variety of other products reminiscent of shoes and ready-to-wear, he sum up. The brand’s best-sellers include the Veneta woven leather bag, which starts offevolved at 1, 800 euros, our cabat version at 4, 700 euros and the knot, which starts offevolved at 800 euros. Leather products or services make up 86 pct of totalidad sales, but Bizzarri declined saying whether that level was required to change in the future. “Growth will come in higher sales per square inserir thanks to larger shops and a much better shopping experience, ” he told. Bizzarri, who used to run Stella artois lager McCartney, another Kering brand, claimed the helm of Bottega Veneta having 2008. The Italian brand have since nearly doubled its selling network to 221 stores. “We are far below the competition in terms of couple of shops and we want to keep which usually, ” Bizzarri said. Gucci sells a network of 474 regularly and Louis Vuitton around 480, although rival Pravda has 330 supermarkets. Bizzarri said, however , that he wanted to do keep growing the average size of the brand’s shops, which has risen to 140 main square meters from 112 when he using it. ($1 = 0. 7180 Euros)(Editing by James Regan)
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