OTB Group: a year of contrasts between decline and success
OTB Group ended 2024 with sales down -4.4%, despite strong momentum from Maison Margiela and growth in Japan.
The Italian fashion group, founded by Renzo Rosso, posted sales of 1.8 billion euros, down -4.4% at constant exchange rates on 2023. Net sales came to 1.7 billion euros (-3.1%), while EBITDA stood at 276 million euros.
Despite this contraction, the founder declared himself “satisfied with the results achieved”, highlighting the strategy of expanding direct sales channels, which grew by +7.4%, accounting for 57% of total sales. However, the decline in wholesale sales weighed on the Group’s overall performance.
Japan and North America in support
Japan, a key market for OTB, recorded growth of +16.3%, accounting for 26% of the Group’s business. North America was up +13.3%.
OTB Group is also banking on the Middle East, notably through its partnership with Chalhoub, which plans to open 15 new stores in five years, including two in 2025. The Group is also planning to expand into Mexico with new stores.
Maison Margiela and Diesel, the flagship brands of 2024
Despite the global slowdown, some of the Group’s brands managed to hold their own. Maison Margiela was up +4.6%, thanks in particular to the success of the January 2024 Haute Couture show by John Galliano, who left the company in December. He was replaced by Glenn Martens at the end of January.
Diesel posted growth of +3.2%, while the performances of Viktor&Rolf, Marni and Jil Sander were not disclosed.
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