otb di Renzo Rosso closes on 2023 with the wind at my back. Despite the challenges, the international fashion and luxury group, known for its prestigious brands such as Diesel, Jil Sander, Marni and Viktor&Rolf, closed the year with a turnover of 1,9 billion euros, recording an increase of 10,2% at constant exchange rates and 7,2% at current exchange rates compared to 2022, and sales net sales of 1,8 billion, up 9,1% at current exchange rates. L'ebitda of the group was 348 million euros, while theebit reached 140 million euros. There net financial position remained solid at 60 million euros. These results were driven by the increase in sales on direct channels, the excellent performance of luxury brands and the strategic repositioning of Diesel.
Investments in 2023 reached 201 million euros, including the purchase of the new Paris headquarters of Maison Margiela. Furthermore, the group has concluded its first acquisition, 80% of the Florentine leather goods company Frassineti, and is preparing for other future operations, keeping its gaze fixed on the objective of quotation scheduled for the 2025, market permitting. As also stated by the CEO of Otb Ubaldo Minelli a Milano Finanza. “The stock exchange allows for greater transparency and prepares the generational transition. We prepare, then we will decide based on the market", said the manager.
Growth of direct channels and investments in retail
One of the keys to the success of the Vicenza-based fashion house was the growth of direct channels, which recorded an impressive increase of 33,8% compared to 2022. This increase was fueled not only by the opening of 76 new stores, bringing the retail network to a total of 610 points of sale, but also by increasing sales in existing stores. The expansion of retail has touched key markets such as China, South Korea and United Statesin addition toEurope.
OTB's growth was primarily driven by Asia-Pacific, which saw a 74% increase in revenue compared to 2022. China, in particular, saw the opening of 30 new stores over the course of the year. Japan, with 23% of the Group's total business, also showed robust growth of 19,4%. These Asian markets have become increasingly crucial to OTB's global success.
Performance of luxury brands
OTB's luxury brands recorded exceptional performances in 2023. Diesel experienced a significant turnaround, with a 13,1% increase in turnover, confirming the success of its brand repositioning. Maison Margiela saw a 23% increase in turnover, driven mainly by China and Korea, while Jil Sander recorded growth of 17,3%, consolidating its position in the global luxury panorama.
Commitment to sustainability and innovation
Otb continued to invest in sustainability e innovation during 2023. Celebrated 10 years of the Cash project, which involves 65 active suppliers, and launched the Made campaign to promote and enhance Made in Italy. Furthermore, the company has obtained approval of its emissions reduction objectives by SBTI and has received national certification of gender equality.
La Otb Foundation continued its commitment to supporting vulnerable people, operating both in Italy and internationally. She received the prestigious “We Welcome” award from the UNHCR for her initiatives to promote the employment of refugees and has expanded the “Brave Women Awards” project to support female empowerment through scholarships for deserving students.
Comments
“I am proud of the work we have done in 2023, it has been a challenging year but our brands have continued to grow in all markets, not only key ones such as the United States, China and historically Japan, but also in new geographies such as South Korea, which is performing very well, and other Asian markets. Younger consumers are appreciating the fact that our brands often move in the opposite direction to the market, focusing mainly on the beauty and quality of the products, and continuing the mission of making fashion a dream,” he declared Red. “We have invested in sustainability and innovation, including the use of Artificial Intelligence – he continued -. I am proud of all the initiatives carried out by the Otb Foundation to support people who find themselves in difficulty, in Italy and around the world. Businesses in general should contribute to social well-being through concrete projects which in our case concern gender violence, integration, the fight against addictions and international emergencies, just to name a few, initiatives in which we also involve our employees who they enthusiastically embrace many of the Foundation's projects as volunteers."
“The results obtained have allowed us to invest more and more in the organization and at the end of 2023 we reached the figure of around 7000 employees worldwide. This is also due to the expansion of our retail network, which currently has 610 stores globally. The group's constant focus on human capital also translates into the training of young people", he added Minelli. Because "only by inserting new lifeblood into these professions will Italy be able to continue to confirm its primacy as the most important country in the world in the production of luxury and high-end products".
