Bottega Veneta Tops In Luxury

[foxie-pooh]

I saw this posted at Hermes and figured that the Bottega guys and gals would appreciate it too

Quote:

Jun 03, 2008 11:00 ET Luxury Institute Survey: Wealthy U.S. Consumers Rate Most Prestigious Women's Luxury Fashion Brands: Bottega Veneta, Hermes and Valentino Highlighted Links Luxury Institute NEW YORK, NY--(Marketwire - June 3, 2008) - High net-worth female consumers rated Bottega Veneta the most prestigious women's luxury fashion brand in the 2008 Luxury Brand Status Index (LBSI) survey from the independent New York City-based Luxury Institute (www.LuxuryInstitute.com). Respondents who would recommend Bottega Veneta say it is "very upscale and sleek looking," "lasts forever and is timeless," and "is very well made." Hermes and Valentino ranked second and third, respectively. "This year's ratings indicate that wealthy women are highly discerning, perhaps to a fault," said Milton Pedraza, CEO of the Luxury Institute. "Wealthy women rate Bottega Veneta a rare gem in a world of homogenizing brands. In a year when parting with your hard-earned money is carefully considered, wealthy women downgraded Vera Wang on prestige for its move to Kohl's, although some saw this as smart business." "Quality is becoming an issue as many luxury brands accelerate outsourcing production to countries where the art of handcrafting is merely a production run, and in a world where Zara, H & M, and even Target have great styling and good quality," said Pedraza. "If your brand had digressions in previous years, you need to know that wealthy women have long memories. They are the most informed consumers on the planet. Every brand rated has lessons to learn from the voices of high net-worth women." Following are the 26 luxury women's fashion brands that were rated (alphabetical order): 1. Armani2. Bottega Veneta3. Burberry4. Calvin Klein5. Carolina Herrera6. Chanel7. Christian Dior8. Dolce & Gabbana9. Donna Karan10. Façonnable11. Ferragamo12. Fendi13. Gucci14. Hermes15. Louis Vuitton16. Marc Jacobs17. Michael Kors18. Oscar de la Renta19. Polo Ralph Lauren20. Prada21. St. John Collection22. Tory Burch23. Valentino24. Vera Wang25. Versace26. Yves Saint Laurent The proprietary Luxury Brand Status Index (LBSI) survey is the only measure of the prestige of leading brands among wealthy Americans. A national sample of 818 wealthy female American consumers, with an average income of $348K and average net-worth of $3.6 million, was surveyed online. Survey results are weighted to match demographic and net-worth profiles of the same audience according to the latest Survey of Consumer Finances from The Federal Reserve. About the Luxury Institute The Luxury Institute is the uniquely independent and impartial ratings, reviews and research institution that is the trusted and respected voice of the high net-worth consumer. The Institute provides a portfolio of proprietary publications and research that guides and educates high net-worth individuals and the companies that cater to them on leading edge trends, high net-worth consumer rankings and ratings of luxury brands, and best practices. The Luxury Institute also operates the Luxury Board (www.LuxuryBoard.com), the world's first global, membership-based online community for luxury goods and services executives, professionals and entrepreneurs. To reach the Luxury Institute, please call 646-792-2669 or go to www.LuxuryInstitute.com.

[purly]

Nice.

[mrsDIY88]

Bottega edged out Hermes???

both brands are truly very good, and spell Luxe in a very understated way. but i thought that Hermes would've been First and Bottega a close 2nd.

[mlbags]

Originally Posted by mrsDIY88

Bottega edged out Hermes??? both brands are truly very good, and spell Luxe in a very understated way. but i thought that Hermes would've been First and Bottega a close 2nd.

Yeah, I'm surprised too! To me, Hermes is like the ultimate, unbeatable.

[Mid-]

Interesting article indeed. BlueGenes posted it here as well. Can we add this to our worldwide article sticky??

[BookerMoose]

Originally Posted by mlbags

Yeah, I'm surprised too! To me, Hermes is like the ultimate, unbeatable.

I thought the same thing - I guess partly because I think of Hermes as WAY out of my league and therefore BV seems more accessible, at least to me!

I wonder if it has anything to do with the fact that there seems to be more Hermes boutiques around, and more people carrying Hermes, than BV - somehow making Hermes more "common" and less "exclusive" notwithstanding the price point? That is the only reason I can think of...

[Nymph]

I would have thought Hermes would come in first too. Do they do sales? That's one thing about BV that IMO makes it less exclusive to me. But that's just me

As far as these surveys go, I can never understand the logic behind them , so I'm just gonna cheer at this one

[mlbags]

Originally Posted by Nymph

I would have thought Hermes would come in first too. Do they do sales? That's one thing about BV that IMO makes it less exclusive to me. But that's just me As far as these surveys go, I can never understand the logic behind them , so I'm just gonna cheer at this one

Since you took the lead Nymph (I was afraid of being stoned!), yeah, I'm cheering too (since I don't have any Hermes ) !!!! Hooray!

[ricera]

So does this mean that we all, officially, have good taste?
I'm pretty sure Hermes has sales on some items. I've been looking at the scarves and shawls lately and I believe they will occasionally reduce the price on old seasons. Also, there seems to be some recent quality issues from what I've seen on the hermes thread. A number of women have problems with the plated metal flaking off of their bags! And that is some serious s*** when your bag is the price of a new car. Not that I would ever refuse an Hermes.
This article surprised me too, but BV has been kind of a sleeper sensation. Its so low-key and subtle. To me, BV isn't about fashion but about style. Yet its more relaxed than Hermes- even in just the structure of the bags. I'm sure one could say its a reflection of the economy and or the current state of politics. But whatever the reasons, it sure does make the argument that all of these BV purchases have been "investments" look better!

[ricera]

Oh, and I thought of another thing. It might have some to do with the ready-to-wear collections. John Paul Gaultier's last efforts for Hermes have been less than stellar, while Thomas Maier has consistently provided exceptional designs for quite a few seasons. Perhaps this difference in successful clothing design is affecting, even slightly, the way women see the two brands. Okay, I'm done now. (P.S. I'm studying economics, with a huge interest in the luxury market, so this sort of thing really gets me going.)

[jelts]

Interesting! I, too, would have thought that Hermes would have come up tops!