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Italian fashion group OTB expects annual organic sales growth of 20 percent in coming years and has “very ambitious targets” as the industry as a whole starts to recover from the coronavirus pandemic, chairman Renzo Rosso said.
“The coming months will certainly be positive for the sector, there are growth trends which will translate in a relaunch of the whole industry,” Rosso said in a statement on Sunday.
He added that, given customers “want to change, have fun, go out and wear (new) clothes” the fashion sector would be able to “return to pre-pandemic levels, and maybe exceed them.”
OTB — which stands for Only The Brave — owns brands including Diesel, Maison Margiela, Marni and Viktor&Rolf and took over Jil Sander from Japanese retailer Onward Holdings in March.
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Rosso has said that the group aimed for an important acquisition when the time was right and that it also aimed to list in some years.
By Giulia Segreti; editor: Robert Birsel.
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OTB Buys Jil Sander as Fashion M&A Heats Up
The owner of Diesel and Margiela is acquiring the label from Japanese group Onward. Designers Luke and Lucie Meier are set to remain in place.
