BV'S Charm Is Decreasing Day By Day, And It Needs To Be Digitized

How long have you not followed Bottega Veneta's Intercciato knitted a handbag? According to the World Clothing, Shoes and Hats Network, as more and more customers switch to other brand As a result, the once hot brand performance sounded the alarm bell - the sales volume in fiscal year 2016 fell 8.7% year on year. Following the change of CEO, the brand also announced that it would strengthen marketing and external publicity, and officially appointed Yannick Angeloz Nicoud is the Director of Global Communications.

To be honest, Bottega Veneta's news in recent years has never stopped, but it has always been around making leather bags. Whenever a public event is held, the brand will send craftsmen from Italy to demonstrate weaving skills on the spot. Although this is the classic of the brand, in this era, even classic products will gradually make people lose interest.

As France luxury goods Bottega Veneta, a gold lettered signboard under the giant Kering Group, is losing its charm day by day. Even by sister brand Saint Laurent caught up and lost the second place in the group's internal revenue. From the point of time, this decline is related to Marco, the former CEO of the brand, namely Gucci's current CEO Bizzarri's transfer is not irrelevant.

In 2009, Marco Bizzarri was appointed Bottega by Kaiyun Head of Veneta. In the next five years, the brand sales doubled, and the revenue in 2014 was $1.1 billion -- a low-key, introverted and high performing super brand, that is, Bottega at that time Veneta。

Since its establishment in 1966, Bottega Veneta only relied on Andy Warhol and Jackie in the late 1970s With the blessing of Onassis and other celebrities, Xiao Hong was once famous. In 2001, when Gucci Group (the predecessor of Kaiyun Group) acquired Bottega Veneta, the brand is one step away from bankruptcy. At that time, Tom Ford, the general creative director, was optimistic about this Italian brand, which advocated no logo, and recruited Germany with minimalist style from Hermes designer Tomas Maier serves as creative director.

For a long time after that, the brand was unknown. Although a small number of fans were willing to pay for hand knitting and low-key luxury without logo, the market was still small. Japan, which is regarded as the most crafty in the world, is its key market, accounting for 45% of the total sales.

Until Marco After Bizzarri came to the stage, the sales of leather woven handbags soared like a rocket, and the woven leather shoes were also highly praised by the market. As a result, when you go to the store to select the goods, you can only be included in the waiting list because Bottega Veneta refused to mass produce, and those Italian craftsmen had no time to accept large-scale orders.

In retrospect, Bottega There were many factors for Veneta's successful revival at that time. Hungry marketing and customers' aesthetic fatigue of the logo were also one of the incentives for Veneta's extraordinary performance. But anyway, Marco Bizzarri has become an industry celebrity and is regarded as a gold digger. In 2015, Kaiyun officially appointed him as the CEO of Gucci to manage the largest cash cow under the group.

Bottega Veneta seems to have been weak since then. Carlo, who replaces Marco Bizzarri Beretta is an industry veteran who once worked in Ermenegildo Zegna has served for 11 years. But even if he is as sophisticated as he is, he can't cope with the changes in the fashion industry: as Gucci shows his strength again, Bottega Veneta's quarterly revenue performance is not very good. In the fourth quarter of fiscal year 2015, the growth of the brand slowed down for the first time, and then declined all the way.

The frequent terrorist attacks in Europe are certainly one of the external factors affecting the brand performance, but the internal problems of the brand are more worthy of in-depth study. Carlo Beretta urgently needs to find new star products. The reason is simple. When you own a classic woven handbag, it is often difficult to purchase it again with enthusiasm, because they are almost the same, and the price is often 2000 or 3000 Euros; In addition, although Bottega, which focuses on leather accessories Veneta has been trying to transform into a multi category lifestyle, including clothing and furniture products, but it is still difficult to get more attention from consumers.

In fact, Claus Dietrich Lahrs, the CEO who took office last year, is not optimistic. HUGO he worked for In 2016, BOSS was forced to sell at reduced prices in order to cope with the decline in performance. Claus-Dietrich Lahrs' departure is a bit like taking the blame and resigning. "Although he had some misfortune at the end of his last job, he still has a good historical record in terms of high-end luxury brand leadership." Zuzanna, an analyst at Berenberg Bank Pusz said in an interview with Bloomberg: "Given the emergency situation of Bottega Veneta, Kaiyun is trying to solve the problem before the situation worsens further."

According to the recent personnel changes, Bottega Veneta seems to be more willing to believe that the main problem causing the poor sales performance is marketing and external publicity. Fran ? ois Henri, Chairman of Kaiyun Group, its parent company Pinault recently expressed his deep belief in Tomas Maier, the creative director of the brand. “Tomas Maier's creative talent is unparalleled, but it has not been fully demonstrated. " He added, "In order to attract new customers, especially young people, we must try different media with an open mind".

According to the brand CEO plan, 40% of the budget in fiscal year 2017 will be used for digital development. Upgraded Bottega Veneta's official website will be officially launched in 2018, when it will provide omni channel services.

"External communication is critical to the seamless flow of social media and online sales." Claus Dietrich, CEO who took office last September Lars said when talking about the appointment of the Global Communications Director, "We should now focus on developing e-commerce channels, so we need to build a strong team". For him, Yannick Angeloz Nicoud knows the root and the bottom. As early as Claus Dietrich Lars served as the CEO of HUGO BOSS, she served as the senior director of global public relations.

Last year, when Bottega Veneta opened its flagship store on Rodeo Avenue in Beverly Hills, California, the former CEO Carlo Beretta once talked about the growth plan of annual revenue of 2 billion euros - now his predecessor has gone, but to achieve this goal, successor Claus Dietrich Lars and his team have a long way to go.

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