OTB posts 14 percent drop in full year turnover

OTB group, parent to Diesel, Maison Margiela, Marni, Viktor&Rolf, Amiri, Staff International and Brave Kid closed the financial year 2020 with consolidated turnover decrease of 14 percent from the previous year to 1,317 million euros, with net revenues of 1,238 million euros.

The company said in a statement that revenues rose by 20 percent at Maison Margiela, which reported growth in all regions and on all channels. At group level, the online business saw an improvement of more than 26 percent in its direct channels. Diesel, in part due to the launch of omnichannel Moon platform, saw direct e-commerce sales proportion rise to 13.3 percent of overall revenues, compared with 7.9 percent in 2019. Including indirect sales, the online channel now accounts for over 24 percent of Diesel total business.

Group EBITDA amounted to 176 million euros, while EBIT was 13.5 million euros against 17.7 million euros in 2019.

Picture:Facebook/Maison Margiela