The Italian fashion group OTB SpA closed the 2022 financial year with a double-digit increase in sales thanks to strong growth in the luxury segment. The parent company of the Diesel brand was also able to make significant progress in terms of earnings. This emerges from selected key figures that the company published on Tuesday.
Accordingly, group sales including license income totaled EUR 1.74 billion, exceeding the level of the previous year by 14 percent. Net sales increased by twelve percent to 1.63 billion euros.
OTB explained that the “strongest results” were achieved in North America and the Asia-Pacific region, not least thanks to continued retail expansion. In total, the Group opened 73 new stores in promising international growth markets last year, particularly in China, South Korea and the USA.
In the luxury segment, sales are growing by 32 percent
The engine of growth was the luxury segment with the brands Jil Sander, Maison Margiela and Marni, whose total sales increased by 32 percent. Jil Sander’s revenues grew 61 percent, but were only booked for the nine months following the closing of the acquisition in the previous year. Maison Margiela achieved a sales increase of 24 percent, Marni exceeded the previous year’s level by 29 percent.
The Staff International (+32 percent) and Brave Kids (+26 percent) segments were also able to increase significantly. Specific figures for the main diesel brand were not published. In the past year, however, this continued its “successful repositioning” under the creative direction of chief designer Glenn Martens, who was hired in autumn 2020, the group explained.
The group of companies also sees itself on the right track when it comes to earnings. Earnings before interest, taxes, depreciation and amortization (EBITDA) reached 314 million euros in 2022 and were thus 22 percent above the previous year’s figure adjusted for special effects. Reported net profit fell from 142 to 105 million euros. Adjusted for special effects that were booked in 2021, the surplus increased by 72 percent, the group said.