Bottega Veneta has rented a historical palace in central Milan to establish its new offices. The Italian luxury brand is owned by Kering and real estate asset management company COIMA SGR.
The company has signed a 12-year contract to lease the 10,000 square meters space in the 19th-century Palazzo San Fedele, nestled between Milan’s Duomo cathedral and La Scala opera theatre.
COIMA SGR bought Palazzo San Fedele on behalf of the Qatar Investment Authority’s Italian Property Fund.
Milan has historically been an attractive option for luxury brands’ offices, but its prospects of maintaining its status as luxury fashion’s corporate hub remain murky as the COVID-19 pandemic continues to impact businesses’ working policies, according to Reuters.
Renovation work on the palace is reportedly expected to begin at the end of this month.