- Kristopher Fraser |
Luxury accessories designer Paula Cademartori has bought her brand back from holding company OTB. OTB was founded by Renzo Russo, and is also the holding company for Diesel, Maison Margiela, and Viktor & Rolf. The company first invested in the Paula Cadermatori label in 2016.
“I would like to thank OTB for the commitment and support over the last years. It was an important collaboration for my professional growth, from which I learned a lot,” Cademartori said in a statement. “It was a pleasure to work with Renzo, a person and an entrepreneur I admire. The time has now come for my brand to explore new independent horizons.”
Despite losing Paula Cademartori, OTB is still not stopping at expanding its portfolio. The company recently upped their stake in Viktor & Rolf from 50 percent to 71 percent. Last June they also invested in Los Angeles-based brand Amiri.
Will Cademartori be able to thrive in the failing handbag market?
Paual Cademartori is best known for her colorful handbags, and she might actually have a tough time going it on her own in the current handbag market. Sales of handbags are down 20 percent, and industries, like manufacturing, are already in a recession in America, potentially posing threats to the greater economy. Despite these factors, she does have a strong customer base already, and a growing international presence that could help her weather a downturn economy.
Photo: Paula Cademartori, from the press office OTB