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.
The Italian fashion group, which owns Diesel and Maison Margiela, announced Thursday that it has acquired a majority shareholder stake in Frassineti, a Florentine leather goods manufacturer that has been a longtime supplier to the OTB-owned Jil Sander brand.
The acquisition is a move by the company’s production arm, Staff International, to strengthen their commitment to supporting Italy’s supply chain and provide OTB with technological resources and expertise in sustainable innovation, according to a company statement.
“These are the companies, and this is the expertise that power our country, and we have to continue investing in them,” Renzo Rosso, OTB Group’s founder and chair, said in a statement.
Frassinenti’s founding family will retain a minority shareholder stake and Gaia Frassineti will continue as managing director of the company.
Learn more:
OTB’s Jil Sander Appoints Luca Lo Curzio as CEO
Luxury brand Jil Sander, owned by Italian fashion holding OTB Group, announced on Tuesday the appointment of Luca Lo Curzio as its new chief executive officer.
The privately-held fashion and beauty giant’s sales rose 17 percent to $17 billion in 2022. Private salons for top-spending clients, emerging technologies and a new London headquarters are on new CEO Leena Nair’s agenda.
How a unique approach to supply chain, design, communications and retail has powered blockbuster demand for iconic bags like the Birkin and Kelly, enabling the French leather goods house to face down rivals and become a global megabrand with a market capitalisation greater than Nike’s.
The production company, which was caught up in Balenciaga’s recent controversy, has won acclaim for its work on luxury campaigns over the last two decades. Now, it joins a growing portfolio of PR and creative agencies including Purple and King & Partners.
A blistering rally in luxury goods stocks this year powered by international demand, particularly from China, has taken a hit, wiping out more than $30 billion from the sector on Tuesday.