Bottega Veneta to Pay $8 Million Annually for Massive New Home

Racked is no longer publishing. Thank you to everyone who read our work over the years. The archives will remain available here; for new stories, head over to Vox.com, where our staff is covering consumer culture for The Goods by Vox. You can also see what we’re up to by signing up here.

It looks like Bottega Veneta will be consolidating its men's and women's stores on the Upper East Side in the near future—The Real Deal reports that the luxury brand known for its woven handbags is leasing 24,000 square feet of retail space at 740 Madison Avenue, a move that was rumored earlier this year. The publication estimates it'll pay $8 million in annual rent for this space.

It'll be several blocks south of Bottega creative director Tomas Meier's eponymous store that opened earlier this year, and just up the block from leather goods competitor Goyard, which just opened its first New York store. Bottega Veneta also has a large Fifth Avenue store that neighbors the Valentino flagship.
· Bottega Veneta Leases Wildenstein Family Property [TRD]
· Madison Avenue [Racked NY]