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 also owns brands including Diesel and Marni, saw overall consolidated turnover fall 14 percent in 2020 to €1.3 billion ($1.6 billion). But revenue at Maison Margiela rose 20 percent, enjoying growth across all regions and channels.
The company’s net financial position improved last year despite the challenging business environment, and OTB has indicated it is on the hunt for new assets. Last month, the company confirmed it was conducting due diligence on a potential acquisition of German fashion house Jil Sander.
Editor’s Note: This article was revised on 10 February 2021. A previous version of this article stated that OTB Group’s consolidated turnover declined to €1.3 million. That is incorrect. It declined to €1.3 billion.
Designer brands including Gucci and Anya Hindmarch have been left millions of pounds out of pocket and some customers will not get refunds after the online fashion site collapsed owing more than £210m last month.
Antitrust enforcers said Tapestry’s acquisition of Capri would raise prices on handbags and accessories in the affordable luxury sector, harming consumers.
As a push to maximise sales of its popular Samba model starts to weigh on its desirability, the German sportswear giant is betting on other retro sneaker styles to tap surging demand for the 1980s ‘Terrace’ look. But fashion cycles come and go, cautions Andrea Felsted.
The rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.