Italian fashion group OTB, which owns brands like Diesel, Viktor&Rolf and Maison Margiela, performed almost identically in 2016 compared to 2015. Its flagship brand Diesel underperformed, but its premium brands were able to offset Diesel’s weaker performance.
Loss for Diesel
Group turnover reached 1.58 billion euro in 2016, almost identical to 2015’s turnover at 1.582 billion euro. EBITDA remained pretty much level at 68 million euro, but the group’s consolidated profit grew 300,000 euro to 3.8 million euro.
Diesel, the company’s most important brand, struggled in 2016 with a 960 million euro turnover. A strategic decision to reposition the brand distribution-wise resulted in a loss.
Premium brands grow
Luckily, its loss was countered by the group’s premium brands. Maison Margiela grew considerably in 2016 and ended the year with a 135 million euro turnover. Marni even managed double-digit growth, reaching 170 million euro in turnover for the full year. Viktor&Rolf took full advantage of the V&R Mariage launch, a well-received collection that should help double turnover in its second season.
Online sales also expanded thanks to double-digit growth and a considerable share of OTB Group’s investments in 2017 will go towards additional digital growth.
Geographically speaking, the United States and Japan are still the company’s most important markets, even though OTB also managed to maintain its footing in Europe. Over the next few years, the company wants to increase its focus on Asia and China in particular.
