Bottega Veneta: Q3 sees continued growth

By

Dominique Muret

Published
Oct 27, 2014

Bottega Veneta has once more recorded double-digit growth its third quarter of 2014, while nevertheless slowing down somewhat compared to the previous quarter’s growth of 16.1% and 18% for the third quarter of 2013. 

The Italian brand, owned by the French giant Kering, finished the third quarter with a turnover of 286.2 million, posting 10.8% growth at constant exchange rates and 10.4% at current exchange rates. For the nine first months of the year, it generated a turnover of 811.7 million euros, translating into a 12% rise compared to the same period one year earlier (+15% at constant exchange rates), according to a company statement.

The positive results are primarily due to its retail channel, which saw sales rise by 10% in the third quarter of 2014. Its direct distribution network, which represents about 80% of the total turnover of the brand, now includes 228 stores as compared with 221 in late 2013. 

Bottega Veneta’ wholesale network saw positive results with sales growth of 14% in the third quarter. 

Sales also increased in all geographic regions, according to the brand, especially in Japan and North America (+14%) and the Asia-Pacific (+10%), a region that accounts for 38% of Bottega Veneta’s total sales.

In Europe, which accounts for 32% over overall turnover, sales increased by 8%.