Apr 22, 2014
Reading time
2 minutes
Download the article
Click here to print
Text size
aA+ aA-

OTB (Diesel) slightly up for 2013

Apr 22, 2014

For OTB (Only The Brave), 2013 was "a year of consolidation." The group that controls the denim brand Diesel, Marni, Maison Martin Margiela and Viktor & Rolf, besides owning production and distribution licenses for DSquared2, Vivienne Westwood, Marc Jacobs Man and Just Cavalli, has closed 2013 with a turnover of 1.57 billion euros and growth at constant exchange rates of 2% compared to 2012 (1.508 billion). CEO Riccardo Stilli released the figures via interviews given to WWD and to the Italian daily business newspaper Il Sole 24 Ore.

Diesel's latest campaign for summer 2014

Stilli (formerly CFO of Prada) took up the reins of OTB in 2013, succeeding Marina Tosin as CEO of the group, which he heads along with Stefano Rosso, Renzo's son. In 2013, according to Stilli, “major operations were conducted that weighed upon the company’s accounts,” additionally penalized by the negative impact of exchange rates, particularly in Japan, OTB’s main market with 20% of sales, and the United States, which accounts for from 15 to 16% of total group sales.

In this context, the gross operating profit (EBITDA) declined, going from 200 to 140 million euros in 2013. OTB has made significant investments in its sales network last year, including the opening of a Viktor & Rolf's shop in Paris and a Just Cavalli flagship store in New York. The group possesses 70 million euro in reserve "to invest in retail development or potential acquisitions, if a good opportunity should present itself," said Riccardo Stilli.

During the coming years, OTB intends to focus primarily on Asia, particularly on China, which represents at the moment less than 10% of total sales. Diesel, which accounts for 70% of its total revenue, remains the group’s leading brand.

Copyright © 2023 FashionNetwork.com All rights reserved.