Renzo Rosso’s OTB acquires Jil Sander
The acquisition had been widely rumored, and adds Jil Sander to a stable of dynamic designer brands, including Maison Margiela, Marni and Viktor&Rolf.
“OTB announces the addition of a new iconic name to its unique portfolio of fashion houses: Jil Sander,” the Italian group said in a release Friday morning.
Founded by the eponymous German designer in 1968, Jil Sander grew to become Germany’s most influential indigenous fashion houses for the past half century.
After being acquired by Prada two decades ago, the house ended up being eventually being acquired by the Japanese multi-brand fashion conglomerate Onward Holdings in 2008. The brand has been under the critically acclaimed creative direction of Lucie and Luke Meier since 2017.
“OTB and Onward Holdings have signed an agreement for the Italian group to acquire 100% of Jil Sander,” the Venetian group noted. Terms were not released.
“I have admired and respected Jil Sander since the fashion house was first established. Despite the changes of ownership and creative direction, the house has always stayed true to its founder’s vision, maintaining an absolute commitment to beauty, quality, and its signature minimalist approach. To be able to welcome this timeless jewel to our group of unique, unconventional labels is an honor and a long-term undertaking,” said OTB President Rosso.
Besides being the parent company of Diesel, OTB also controls Los Angeles-based Amiri, while its production company Staff International boasts worldwide licenses to such happening marques as DSquared2 and Koché.
For 2020, the group reported consolidated turnover of €1,317 million, EBITDA of €176 million, and a strong positive net financial position of €175 million.
Copyright © 2023 FashionNetwork.com All rights reserved.