The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Renzo Rosso’s Italian apparel group is doing due diligence on a potential acquisition of German fashion house Jil Sander, a spokesperson for OTB Group said Tuesday, confirming a report by Italian newspaper Corriere della Sera.
OTB, which already owns Diesel, Marni and Maison Margiela, had said in a December statement that it was once again on the hunt for new assets. “We want to increase our critical mass and we want to do it in a modern and sustainable way, first of all supporting and strengthening the pipeline, and in general Made in Italy,” the company said.
Jil Sander is currently owned by the Japanese apparel company Onward Holdings Ltd., which acquired the brand at an equity value of €167 million in 2008.
The label is currently designed by Luke and Lucie Meier, the husband-wife duo known for their work at OAMC and Christian Dior, respectively.
The luxury goods maker is seeking pricing harmonisation across the globe, and adjusts prices in different markets to ensure that the company is”fair to all [its] clients everywhere,” CEO Leena Nair said.
Hermes saw Chinese buyers snap up its luxury products as the Kelly bag maker showed its resilience amid a broader slowdown in demand for the sector.
The group’s flagship Prada brand grew more slowly but remained resilient in the face of a sector-wide slowdown, with retail sales up 7 percent.
The guidance was issued as the French group released first-quarter sales that confirmed forecasts for a slowdown. Weak demand in China and poor performance at flagship Gucci are weighing on the group.