Bottega Veneta slows retail expansion, instead enlarges existing locations

“We need to carefully balance retail expansion and exclusivity, which is one of the biggest topics in the luxury goods industry today,” Bottega Veneta Chief Executive Marco Bizzarri told Reuters in an interview. “The ubiquity risk, Bottega Veneta is dealing with it.”

“Business trends are positive for Bottega Veneta,” Bizzarri said. “We see no slowing of demand, in China or elsewhere.” Bottega Veneta recorded 25 net store openings in 2013. Bizzarri said it would open fewer boutiques this year, but he declined to give a precise figure.

He said Bottega Veneta would focus on enlarging existing spaces, mainly in top fashion capitals and where the brand could tap demand from emerging market tourists, the biggest buyers of luxury goods. He said he planned to reinforce its presence mainly in Europe as he believed the brand needed “to be strong where it comes from”.

Bottega Veneta store at Marina Bay Sands, Singapore