Italian luxury brand Bottega Veneta, owned by luxury conglomerate Kering, is looking to bounce back from a sluggish economic climate with the appointment of a new CEO. Bartolomeo “Leo” Rongone, previously the Chief Operating Officer at Saint Laurent and with a decade of experience at Fendi, has been tasked with rejuvenating the brand, which has been facing financial decline for several months.
In Kering’s successful 2018 annual report, Bottega Veneta stood out with a sales decrease of 3% for the year. The downward trend continued into the first quarter of 2019, with a projected decline of 8.9%. However, the luxury group expressed optimism in an April statement, pointing to the positive reception of the initial designs by Daniel Lee, the brand’s new creative director.
CEO of Kering, François-Henri Pinault, expressed his enthusiasm for Rongone’s appointment, stating, “I am delighted by the arrival of Leo Rongone, whose passion and energy I appreciate. His knowledge of luxury and his managerial qualities will be crucial in his new role. I am confident that he will leverage Bottega Veneta’s exceptional heritage and Daniel Lee’s creativity to continue the Maison’s new phase of development.”
Rongone, aged 48, will officially take over from Claus-Dietrich Lahrs on September 1st. Lahrs, who served as CEO for three years, departed for personal reasons as stated by Kering. Rongone will also be joining the Group’s Executive Committee, alongside other newcomers like Cédric Charbit, CEO of Balenciaga, who will join the committee on July 1st.
Useful links:
– Official website of Bottega Veneta: https://www.bottegaveneta.com/
– Kering official website: https://www.kering.com/
