Why is Bottega Veneta so expensive? Is it really worth the money in 2023?
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Find out the 6 reasons why Bottega Veneta is so expensive & if it’s worth buying
Why is Bottega Veneta so expensive?
You might be wondering “why is Bottega Veneta so expensive”? B.V. is not your average luxury brand, thanks to its iconic ‘intrecciato’ design. Presently owned by the Gucci group, the line has cut a name in the fashion industry as one of the most profitable entities. Also widely renowned for its extensive product line of jewelry, shoes, handbags, and accessories, among others, Bottega Veneta exhumes pure class.
But the fashion house has some of the most expensive bags and wallets in the market. So what’s the rationale behind this seemingly exorbitant pricing? Let’s find out below.
History of the brand
We can trace the first Bottega Veneta boutique to Vicenza, Italy, in 1966. At the time, it was a small shop owned by Michele Taddei and Renzo Zengiaro. From its start, the company was renowned for its unique leather-weaving design called Intrecciato, which is still the brand’s signature appeal.
Later, Mr. Renzo Zengiaro left the company to Michele Taddei, who transferred the firm’s management to his ex-wife Laura Braggion. Then in 2001, French-based multinational Kering, via its subsidiary Gucci Group acquired the fashion line for $156 million.
Since then, the firm has grown from strength to strength, and its most remarkable achievement was making €1.5 billion in sales in 2021. Today, Bottega Veneta is under the tutelage of Matthieu Blazy, and among his legacy projects is to shift the firm’s headquarters to Milan’s Palazzo San Fedele.
6 Reasons why Bottega Veneta is so expensive
1.It is a high-quality brand
Talk of elite craftsmanship, top-quality materials, elegance, and rarity – just say it all; Bottega Veneta has it. Being a luxury brand, you would, without a doubt, expect the company’s products to retail at extortionate prices. The brand is well known for its leather quality and great craftmanship. Even before its brand revival, it was popular among people who liked the IYKYK look to the bag. Bluntly said, it was a bag loved by the “old money” women.
Nowadays, the brand has jumped in popularity and it also targets celebrities and influencers. So why would Bottega Veneta sell cheap when it’s a luxury label for exclusively affluent people?
2. It has a good resale value
Another way to gauge a luxury brand’s value is by considering its products’ resale value. So this brings us to the mullion dollar question, do Bottega Veneta bags have a high resale value?
To start with, these bags are not cheaply priced as a Cassette, Pouch, and Jodie will go for $4,100, $3,690, and $1,900, respectively.
But so luxuriant and highly valued are the Bottega Veneta bags that a Chain Cassette Crossbody will sell at 87% of its value. This is as per the luxury products e-commerce site Rebag which also reports that the Jodie and Chain Pouch will resell at about 90% and 80% of their original values, respectively.
But some consider LV bags more valuable in resale compared to Bottega Veneta. This doesn’t matter anyway, as resale relies on many factors, such as the item’s condition and who’s selling it.
3.Is popularity the reason why Bottega Venetta is so expensive?
You’d expect a fashion line to rely heavily on social media to reach new customers and market its brands. But that is a – not so brilliant idea- at least in the view of Bottega Veneta’s former creative director Daniel Lee.
In 2021, Bottega Veneta left all its social media platforms and launched an online fashion magazine Issue. The aim- to avoid the mediocrity and commonness that comes with social media and instead carve a niche as a unique brand that doesn’t require that sort of advertising.
In addition to fashion photography, the fashion house now relies on celebrities and influencers to market itself. You have probably seen a boom of people posting Bottega bags on either Instagram or YouTube. It’s a bit of a vicious circle as the more people post about the bag, the more people want it. And the more people that want the bag, the more can Bottega Veneta justify increasing their prices.
4. Exclusivity
Bottega Veneta is an Italian label, which means that it targets to give its customers a feeling of status and exclusivity. Remember that the line’s products (especially bags) don’t have a shouting logo as you’d expect for such a commodity.
Rather, the weave design Intrecciato is an outstanding feature recognizable from afar, so you don’t have to read the discreetly situated logo.
Besides, while Bottega Veneta aims to generate profits from making more sales, it doesn’t just target anyone who wants a bag or its other products. The line’s products are intentionally outrageously expensive to ward off- the not-so-wealthy individuals – pun intended. They have just had a price increase recently to increase their status and exclusivity – you can read more about it here.
This way, those who own the products can feel special, classy, and exclusively belonging to a high-end circle.
5. Amazing warranty and bag care
Bottega Veneta is planning to pioneer its new Certificate of Craft program this month (Nov 2022). This will be in the form of a card that’ll grant the customers a lifetime warranty. Further, the move is a statement that the company assures the clients of a lifetime of service with their products.
This can only mean one thing- Bottega Veneta has no doubts or qualms concerning the quality of its products. Under the program, customers will be eligible for an unlimited refresh of their products to the tune of up to £5,940.
Again that is a big statement that underlines Bottega Veneta’s high valuation of their products. If nothing else, that’s the perfect answer for why is Bottega Veneta so expensive. They stand by their craftmanship and quality so much that they offer a lifetime guarantee. That’s pretty amazing!
6. Manufactured in Italy
Again, it is not purely by design that Bottega Veneta bags feature a Made in Italy label. It’s a fact of life that Italy is renowned for its pricey luxury brands such as Versace and Gucci. There’s a unique attention to detail with Italian-made fashion lines that make them a darling for leather lovers.
But this glamor and design impeccability comes at a cost, so why not hike the prices of the final products? Further, production in Italy is remarkably expensive compared to other countries, so it is a no-brainer that Bottega Veneta products are so expensive.
For reference, compare the prices of Bottega Veneta with those of products made in countries with cheaper labor, such as China. Then, you’ll understand why Bottega Venetta is more expensive than Prada and Michael Kors.
Conclusion: Top reasons why Bottega Veneta is so expensive
Now you know why Bottega Venetta ranks high among the most luxurious fashion labels.
- First, the line sports the iconic Intrecciato weave, which sets it apart from competitors.
- The resale value of the products is also near the purchase price, so owners can consider them as assets.
- Bottega bags have become very popular among influencers and celebrities, thus the brand decided to hike their prices
- Besides, there’s complete exclusivity of the Bottega Veneta products. Not many people are rocking Bottega bags.
- Don’t also forget the Made in Italy label, which marks the quality of Bottega Veneta products.
- Lastly, you’re assured of a lifetime Warranty once you purchase the fashion line’s items which means you’re covered for life.
The most expensive Bottega Bag and why is it so expensive?
At the moment, the most expensive Bottega Veneta handbag is the Double Kalimero bag which retails for a little more than 10,000 USD. It is obviously a very high price that somehow feels justified by the design and craftmanship that went into this bag. This double bucket bag feels more like a work of art than an actual, practical handbag. It features two bucket bags connected by a strap. In typical Bottega fashion, it is made out of fine intreccio leather, including for the strap. It is of course made in Italy by Bottega’s artisans and it comes in two colors: “Polen” and “Bitter Chocolate”. This is definitely a collector’s item, so it will be someone who appreciates Bottega Veneta’s heritage and craftmanship.
The most popular Bottega Venetta items
The iconic weave bags are the top Bottega Venetta bags as well as the IT bag “the pouch”. Here are the top 3 most popular Bottega bags:
Is Bottega Venetta worth the money?
Reasons why we think a Bottega bag would be worth it:
- If you want an understated designer bag that does not have a logo but it’s still recognizable in the fashion community.
- Maybe you’re worried about the wear and tear of your bags so it’s really comforting to hear about the brands’ lifetime warranty
- You love intricate designs and great craftmanship – then you must really love Bottega because they are at the top of their game
- If you just love a BV bag design. They’ve launched so many amazing bags in the last couple of years and I am in love with at least 3 different BV bags!!
Where to buy a pre loved Bottega bag?
As we touched upon earlier, Bottega Veneta does hold some of its value on the secondary market but not as much as other brands (such as Hermes for example). This is good news for those who like to shop second hand and look for a bargain. See some of the bags available at Fashionphile for a fraction of the price. (affiliate links).
Buy a bargain Bottega Veneta bag here
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