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.