Italian fashion company Only the Brave (OTB) officially announced its acquisition of renowned German label Jil Sander, known for its minimalist aesthetic. This strategic move strengthens OTB’s already impressive portfolio of designer brands, including Maison Margiela, Marni, and Viktor&Rolf. The acquisition comes after much speculation within the fashion industry.
Founded in 1968 by German designer Jil Sander, the eponymous label has been a powerhouse in German fashion for the past five decades. Previously owned by Prada in the 1990s, Jil Sander eventually fell under the ownership of Japanese fashion conglomerate Onward Holdings in 2008. Since 2017, the brand has been led by the highly acclaimed creative duo Lucie and Luke Meier.
OTB expressed its excitement about the addition of Jil Sander to its diverse portfolio in a statement released on Friday. The specific terms of the acquisition were not disclosed. Renzo Rosso, President of OTB, praised Jil Sander’s commitment to minimalist beauty, quality, and its founder’s vision. He stated his honor in welcoming the brand to the group’s collection of unique and unconventional labels.
Not only is OTB the parent company of Diesel, but it also controls Los Angeles-based Amiri. Additionally, its production company Staff International holds worldwide licenses for popular brands such as DSquared2 and Koché. In 2020, OTB reported a consolidated turnover of €1,317 million, EBITDA of €176 million, and a strong positive net financial position of €175 million.
The acquisition of Jil Sander solidifies OTB’s position in the fashion industry and expands its already diverse portfolio of designer brands. With Renzo Rosso leading the company, OTB continues to experience growth and make significant contributions to the world of fashion.
Useful links about the acquisition of Jil Sander by OTB:
– Vogue: Only the Brave acquires Jil Sander
– Business of Fashion: OTB acquires Jil Sander
