OTB Group, through its subsidiary Staff International, secures a majority stake in leather goods specialist Frassineti, a longtime supplier to luxury brand Jil Sander.
The Italian fashion group, which owns brands such as Jil Sander, Diesel and Amiri, is stepping up its commitment to support Italy’s supply chain, OTB announced on Thursday. The acquisition aims to ensure Frassineti’s stability and “even faster and more solid growth”.
“The brands in the luxury department of our group have a strong focus on the craftsmanship of their products and the use of raw materials of the highest quality, which is only possible by collaborating with companies like Frassineti, who make the fashion supply chain unique in Italy and worldwide”, explained Renzo Rosso, Chairman of the OTB Group. “These are the companies and the know-how that power our country and we must continue to invest in them.”
Post-acquisition, OTB will continue to work with the Frassineti family of entrepreneurs, who will retain a minority stake. Gaia Frassineti will remain with the company in her position as managing director. Founded in 1964, Frassineti manufactures leather bags and other accessories. More than 70 employees work in the studio.
“We are honored to add another highly talented young woman to our group, Gaia, who is an example of how a second generation of entrepreneurs can pass on her family’s heritage, culture and entrepreneurial spirit,” said Rosso.