It’s hard to imagine Bottega Veneta, which last year surpassed the 1.6 billion euro mark and has reached global brand status, as a struggling, off-the-radar, near bankrupt leather goods label back in 2001 — and many may have forgotten that the acquisition of the brand was spearheaded by Tom Ford and Domenico De Sole, who were leading the then-Gucci Group.
Gucci Group Takes the Reigns
De Sole at the time revealed that Bottega Veneta had been at the top of the list of his acquisition targets, and with Ford, realized the brand’s strong heritage based on high-quality leather accessories and shoes and Italian craftsmanship had huge potential. He believed the brand could exponentially grow its revenues, which in 2000 amounted to approximately $50 million.
Ford did not get involved in the design of the collection, as he was taking over the over the design of the Yves Saint Laurent Rive Gauche rtw line, which Gucci Group acquired in November 1999. Instead, Tomas Maier was appointed to the role of creative director of Bottega Veneta.
Initially, Gucci Group bought a 66.67 percent stake in Bottega Veneta via a capital investment of $96.2 million and the purchase of shares from its stockholders for $60.6 million, forFollow WWD on Twitter or become a fan on Facebook.
