Luxury Without Labels; Bottega Veneta doesn't need a logo to prove its high-class credentials. The status lies in the way its goods are made.(Cover story)

Byline: Barbie Nadeau

For some, nothing feels as luxurious as a designer insignia. Whether it's a massive C on the bow of glossy sunglasses or the offset LV on a well-crafted piece of luggage, the symbol plays a big part in announcing one's status. So then why did the New York-based Luxury Institute just name Bottega Veneta--which prides itself on sporting no labels at all--the world's most luxurious brand? "Bottega Veneta is a one-of-a-kind classic boutique brand that executes the fundamentals of luxury extraordinarily well," says Milton Pedraza, CEO of the Luxury Institute, which surveyed 500 U.S. homes with a median annual income of $318,000 to find the world's most admired luxury brand. "It's understated, not gimmicky. It is not so involved in labeling itself."

But that doesn't mean it's not readily identifiable. Even without a blatant insignia, Bottega Veneta handbags, shoes, clothing and home accessories are easy to distinguish, thanks to their tasteful use of animal prints and telltale hand-woven leather, which uses a technique known as intrecciato to create a lattice-work effect. The label's reputation for exclusivity is well established; the clothing line is limited both in the selections each season and the number of garments sewn. A jewelry line launched last year featured just a few pieces: an 18-karat woven yellow gold necklace and bracelet set with diamonds. Indeed, the company's mantra is "When your own initials are enough."

The label wasn't always so discreet--or successful. Established as a handbag and luggage maker in the northern Italian city of Vicenza in 1966, the company became one of the hottest brands to carry in the 1970s. Bottega ...