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Diesel parent OTB posts 6.4 percent rise in 2019 turnover

By Prachi Singh

Mar 10, 2020


OTB, the Italian fashion group’s turnover exceeded 1.5 billion euros, coming in at 1,530 million euros (1,741 million dollars), up 6.4 percent compared to 2018, and growing in all businesses, channels with retail growth of 9 percent, and regions. The company said in a statement that consolidated EBITDA reached 190 million euros (216 million dollars), while EBIT was positive at 18 million euros (20.4 million dollars). The company added that 2019 saw important investments such as the acquisition of a stake in Amiri, an increased stake in Viktor&Rolf from 51 percent to 70 percent, and the opening of over 70 single brand stores around the world.

The parent company of Diesel, Maison Margiela, Marni, Viktor&Rolf, Amiri, Staff International and Brave Kid further said that Diesel returned to growth, recording a 2.6 percent increase in turnover. It opened 45 single brand stores with a new interior design concept, moving many existing stores to locations more consistent with the brand positioning, and closing those no longer in line with strategy and expected results. E-commerce recorded growth of 24.3 percent for the direct channel which, added to the indirect e-commerce business, made the total online business account for over 11 percent of the brand’s turnover.

All brands under OTB portfolio perform well

Brand turnover of Maison Margiela increased by over 36 percent compared to the previous year, reaching 200 million euros (227.7 million dollars), with strong acceleration in retail and online channels, and growth in the accessories collections which represent 60 percent of turnover. Marni, the company said, saw sales increase by more than 8 percent - with accessories accounting for 58 percent of the total. The brand opened eight new stores last year, including a flagship store in Omotesando, Tokyo, and the first store in Maximilianstraße, Munich.

Last year Viktor&Rolf generated business volumes (retail value) of 200 million euros (227.7 million dollars). Besides their iconic and unique couture collections and fashion shows, ‘Mariage’, the bridal collection sold in more than 60 retail outlets, and the ‘Tulle’ capsule collection, distributed in 100 of the world’s multi-brand stores. Having joined the group in the middle of last year, Amiri, the L.A.-based luxury brand founded in 2014 by Mike Amiri, increased its turnover by 49 percent.

OTB added that revenues at Staff International rose by 9 percent, based on a dual business model: on one hand, managing the research and development, production and worldwide omnichannel distribution of licensed brands such as Dsquared, Just Cavalli and the new entry Koché; on the other hand, as a licensed manufacturer for the group-owned brands Maison Margiela, Marni and Diesel, with a special talent for Made in Italy, which accounts for more than 90 percent of its production. Brave Kid, the group company specializing in the development, production and distribution of kids clothing and accessories, reported turnover growth of 6.4 percent during 2019.

Picture credit:OTB