Bottega Veneta is showing its support of Italian artisanal know-how with a new campaign that celebrates Italy’s other “bottegas”, or creative workshops.
Over the holiday season, the luxury brand is shining a spotlight on 12 Italian makers via its various platforms, offering the kind of global visibility and exposure that many of these smaller operations lack.
From advertising campaigns and window displays in the brand’s Milan, Venice and Rome stores and other prominent spots in Milan, to online platforms that include the Bottega Veneta website and newsletters, the brand is showcasing specific products created by Italy’s lesser-known artisans.
“We are thrilled to launch Bottega for Bottegas alongside Italian artisans with whom we share the common values of creativity and craftsmanship,” says Bartolomeo Rongone, Bottega Veneta’s chief executive.
“We are proud to offer worldwide visibility to these ‘bottegas’ that are deeply rooted in Italian culture, specially at a time where smaller entities continue to be impacted by the pandemic. It is with honour that we have passed on our advertising spaces, website, newsletters and store windows, and we hope that this will further highlight their excellence at a global level.”
Featured bottegas include Amatruda, a family-run business that has crafted handmade paper goods for centuries from its base in Campania; Puglian ceramicist Enza Fasano; Gay-Odin, a chocolatier dating back to 1922; Krumiri Rossi in Piemonte, which has been producing its signature fragrant biscuits since 1878; and Pastificio Martelli, a tiny pasta-making factory in the old town of Lari that prides itself on the fact it takes a year to produce by hand what a modern pasta factory might make in five hours. Boutique rice maker Riso Pozzi, the historic oil mill of Olio Vanini, Lomabrdian soap producer Saponificio Varesino and the handmade drums of Respighi Drums also feature in the new campaign.
“Bottega Veneta is a distinguished house known globally for the quality and recognisability of its products,” says Alessandro Respighi, co-owner of Respighi Drums. “These are traits that we cherish in our work; to be chosen to be part of this beautiful and important initiative is of great satisfaction to us. It made us realise we are on the right path to bring forward high quality Italian products to be appreciated in the entire world."
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Friday, Sept 26 – UAE won by 36 runs
Sunday, Sept 28 – Second ODI
Tuesday, Sept 30 – Third ODI
Thursday, Oct 2 – Fourth ODI
Sunday, Oct 5 – First T20I
Monday, Oct 6 – Second T20I
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Terror attacks in Paris, November 13, 2015
- At 9.16pm, three suicide attackers killed one person outside the Atade de France during a foootball match between France and Germany
- At 9.25pm, three attackers opened fire on restaurants and cafes over 20 minutes, killing 39 people
- Shortly after 9.40pm, three other attackers launched a three-hour raid on the Bataclan, in which 1,500 people had gathered to watch a rock concert. In total, 90 people were killed
- Salah Abdeslam, the only survivor of the terrorists, did not directly participate in the attacks, thought to be due to a technical glitch in his suicide vest
- He fled to Belgium and was involved in attacks on Brussels in March 2016. He is serving a life sentence in France
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
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Based: Dubai, UAE
Sector: Laundry
Employees: 170
Funding: about $8m
Funders: Addventure, B&Y Partners, Clara Ventures, Cedar Mundi Partners, Henkel Ventures
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This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
