Italian fashion group OTB, which owns popular brands like Maison Margiela, Marni, Jil Sander, Viktor&Rolf, and Diesel, is considering going public in the next two years. The company is aiming to be listed on the Milan Stock Exchange around 2024 or 2025. Ubaldo Minelli, the CEO of OTB Group, has expressed that going public has always been their goal and something they have been contemplating for some time. As per Reuters, the group, helmed by entrepreneur Renzo Rosso, is planning this new phase of its journey by the end of 2024 or early 2025.
This decision aligns with the group’s recent impressive performance, achieving a revenue of €1.53 billion ($1.81 billion) last year, indicating a successful rebound to pre-pandemic levels. The strong growth of its luxury brands played a significant role in this accomplishment, with a global increase of 55% compared to 2019. The group also witnessed substantial profit growth, which can be attributed to a major restructuring of its logistics operations.
In anticipation of its upcoming initial public offering (IPO), OTB Group has released its first report dedicated to its environmental impact and social commitments. The group is optimistic about the opportunities for digital expansion and has actively engaged in the Web3 space. Last year, it became a founding member of the blockchain consortium Aura, alongside luxury giants LVMH, Prada Group, and Cartier. Additionally, OTB Group established a dedicated center of excellence for metaverse initiatives, non-fungible tokens (NFTs), and related technologies.
Useful links:
1) OTB Group Official Website
2) Reuters Article on OTB Group’s IPO Plans
