Italian luxury fashion group OTB experienced impressive growth in the past year, with a 16.2% increase in turnover and the opening of 38 new stores. OTB, which owns renowned brands like Diesel, Maison Margiela, and Jil Sander, highlighted the profitability of Jil Sander, which broke even just nine months after joining the business. The company’s turnover reached €1.53 billion, with net sales growing by 18% to reach €1.456 billion. The luxury business at Marni, Maison Margiela, Jil Sander, and Viktor&Rolf played a crucial role in driving this growth. The Asia Pacific and North America regions contributed significantly to the company’s success, and its online distribution also saw substantial growth.
In terms of financial performance, OTB reported an EBITDA of €354 million, indicating a remarkable 47% increase compared to the previous year and a 36% rise over the past two years. The company’s net profit reached €142 million. This year marked a turning point for OTB as it achieved pre-pandemic turnover levels and witnessed significant improvements in earnings and margins. All luxury brands within the group showcased robust growth on both a one and two-year basis. Maison Margiela stood out with a 25% increase in turnover compared to 2020, reflecting overall growth of 107% from 2019 to 2021.
OTB also placed focus on its Diesel brand during the year, with Glenn Martens assuming the role of creative director. Diesel underwent a brand evolution by blending its heritage with an innovative approach, positioning itself in the alternative luxury segment. The new creative direction attracted international clients interested in emerging fashion trends. Diesel launched its flagship store in New York, implementing the new concept of the Glenn Martens era, and underwent a distribution requalification process in line with the brand’s new strategy.
Furthermore, OTB made significant investments in digital initiatives throughout 2021. The company became a founder member of the Aura Blockchain Consortium and established BVX (Brave Virtual Xperience), an internal newco dedicated to the development of metaverse, gaming, and NFT projects. Diesel, Maison Margiela, and Marni revamped their online stores, resulting in a rise in direct online sales compared to the previous year. Chairman Renzo Rosso stressed OTB’s commitment to creativity, diversity, and sustainability, and expressed the group’s ambition to further solidify its position in the unconventional fashion and luxury market.
Useful links:
– OTB Official Website
– Maison Margiela Official Website
