OTB acquires 100% share of Marni and appoints new CEO
today Nov 20, 2015
Three years after having acquired a majority stake in Marni, OTB has now gained 100% of its capital. The Renzo Rosso holding, Rosso already holds several major labels such as Maison Margiela and Viktor &Rolf, as well as Diesel and manufacturer Staff International, took hold of the Milanese fashion house via a 61% participation in February 2013.
"It's the natural completion to the road embarked upon with the acquisition of the brand founded 20 years ago by Consuelo and Gianni Castiglioni," said OTB in a press release.
Artistic Director Consuelo Castiglioni will continue in her role while her husband, who until now was the head of the company, will become its president. OTB has also announced the appointment of Ubaldo Minelli as the House's managing director. The executive, part of the OTB group for several years now, currently the head of Staff International, a position he will continue to hold.
Marni recorded €130 million in revenue in 2014 and expects double digit growth for this 2015. These past few years it has opened some major flagships, including the one in San Francisco at the beginning of November.
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