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OTB Fashion Group Could Create An Exclusive Italian Luxury Hub, Soon
- 1st May 2021
With the Covid pandemic playing havoc almost all business sectors have been affected. There have been a lot of re-arrangements, closures, mergers, acquisitions, investments and business understandings of various kinds. One of the biggest such merger and acquisition could well happen for OTB Group - the Italian fashion giant. OTB fancies its dream of creating an Italian luxury market and as per its chief executive the Fashion group from Italy is very close to making this happen soon.
Founded by Italian entrepreneur Renzo Rosso, OTB (acronym for Only The Brave) is a well renowned international fashion group. It is the parent company of super hit fashion brands like Diesel, Maison Margiela, Marni, Jil Sander, Amiri, Viktor & Rolf. It also owns Staff International which is a company having a niche in ready-to-wear production and distribution, and another company Brave Kid, which focusses on children's clothing production and distribution.
The Italian fashion group has also, in the first quarter of 2021, acquired German label Jil Sander from Japanese retailer Onward Holdings.
CEO Ubaldo Minelli updated that the OTB Group is keen on multiple things including acquisition of fashion brands, obtaining fashion firms in the production and distribution sectors. Ubaldo Minelli was appointed chief executive officer of OTB in 2017 and was previously CEO of Staff International.
Through an online conference Ubaldo also exuded confidence about OTB’s capacity in terms of finance, organizing, management and also capitalization - to enable it to get with the process of creating the luxury fashion hub.
As per Ubaldo Minelli the Sander purchase was part of OTB's strategy formed some time ago with an objective to build a huge portfolio of luxury brands. He pointed out that although many attempted to do the same it was something that Renzo Rosso – the Founder of OTB Group who was able to do so.
With the Covid pandemic creating an absolutely unprecedented situation for all businesses worldwide, the business of fashion and clothing has also suffered in a huge manner. Luxury fashion business of course took a major hit as most of the luxury retail shops were closed. Also with the travel bans across various parts of the world, many potential buyers have been unable to buy luxury clothes thereby affecting the fashion business big time.
As is the nature of things with every crisis there comes an opportunity and the same has been true with the luxury fashion business globally. The luxury fashion market has witnessed multiple investments, mergers and acquisitions of various kinds.
One of the biggest examples has been that of Exor (Agnelli family’s investment holding company) picking up a 24% stake in French luxury fashion shoemaker Louboutin.
Another noteworthy deal has been that of Italian luxury skiwear maker Moncler picking up a major stake in Stone Island, Stone Island, an Italian luxury men’s apparel brand headquartered in Ravarino.
As per the CEO of OTB Group, the luxury fashion company is expecting a healthy increase in their sales and bottom line due to positive performances in the Asian region and also fabulous sales happening through their internet channel.