Bottega Veneta Sees Financial Success Following the Appointment of Daniel Lee

Parent company Kering reported a 3rd quarter growth in sales

Bottega Veneta is arguably one of the most talked about brands of 2019 and it seems that there is no stopping the brand’s current trajectory. When Daniel Lee, former designer at Celine under the direction of Phoebe Philo, was appointed creative director of the storied Italian design house it was incredibly apparent that big changes were afoot. Parent company Kering hoped to modernize and aimed to reach a wider consumer base with a younger designer at the reigns. Lee took over creative direction from longtime designer Tomas Maier, who was known for his classic designs.

Lee’s first runway collection for the brand debuted earlier this year, and instead of slow, steady change, Lee debuted his vision for the brand in a big way. Fans were introduced to an exaggerated version of the brand’s iconic Intrecciato leather and Lee debuted new silhouettes and shapes along with it. And just as parent company Kering had hoped, when Bottega’s The Pouch debuted for Spring 2019, the design struck a chord with a younger consumer base. Celebrities, influencers and editors alike all took to the design, making it one of the most talked about new bags of the year.

It should come as no surprise that the relaunch of Bottega Veneta under its new leadership has paid off. According to Business of Fashion, the brand reported a sales increase of 7 percent on a comparable basis after seeing a decline in the first half of the year. It’s important to note that the reported sales increase comes after the majority of Lee’s designs hit stores. Kering’s CFO, Jean-Marc Duplaix, also stated that, unsurprisingly, the brand’s RTW and accessories are resonating with a younger consumer base, most notably in the US and Europe.

BoF also reported that Kering stated that Gucci’s sales are slowing down, with a 10.7 percent sales increase versus the brand’s incredible boom in 2017 and 2018 when they reported a growth of 30 percent annually.

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Guest

If you are a long time BV fan, you would actually realized that they are cost cutting. The old BVs have high quality suede lining while the new ones are allegedly microfiber (unlined interior). I wouldnt be surprised if for some reason, most of the artisans lost their job when they replaced the old CD. His designs are so trendy and do not really need any artisanal leather technique.

Most of Tomas Maier era RTWs are handmade and exquisite due to complicated designs and exotic leather, while the current RTWs are so trendy, you could actually find them in at least 5 different designers (Maison Margiela, Rick Owens, Kenzo, Helmut Lang, Philip Lim, Michael Kors, Marc Jacobs). So yes, they probably had a financial ‘success’ this year.

Maya

Simple, nothing crazy but I have to say that pouch is to die for!!

Vlad Dusil

Look for an entire feature on the new BV pouch later this week!

Lori

Yay! It’s so great. Can’t wait to read about it.

MademoiselleConnasse

I like the new BV just as much I liked the old BV!

Lori

I was looking at the new items at Heathrow the other day and I can totally see why they are so hot right now.

Cindy

I think they are pretty, but since you saw them in person what makes them “hot” to you? Are they well made? Is the leather buttery soft? Are the colors beautiful? I’d love to know!

Lori

They are very fashion forward IMHO. The leather and quality seemed top notch. There were some light blue pumps with weird large toe boxes that were fantastic. I think they were just totally out there and actually something new. And I love the big weave on the bags. And the pouch is really pretty. I guess i covered them all. These are the shoes I saw in person: https://www.bottegaveneta.com/us/pump_cod11746634tf.html

Cindy

Thank you, this was so helpful!

C

I just bought a BV Knot Clutch this weekend, the larger “Chain Knot” version with a long strap you can hide inside. The SA said the chain knot was 2 years old so Daniel Lee can’t quite take all the credit for my purchase, but I do think BV being so top of mind for fashion lovers nowadays did play a part.

Zeynep Ganz

I recently purchased the BV Intrecciato Flap on Crossbody (which I wear as a clutch) and I love it. I would love a larger bag by BV. The Pouch is adorable but it is everywhere now and would rather a more classic piece.

Becky

I’m curious if the Bottega Pouch, so popular at the moment, will eventually fall the way of the Chloe Paddington? Or, will it have the timelessness and longevity of the Chanel 2.55 classic flap?

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