Despite a decline in sales in 2025: fashion group OTB sees progress

The Italian fashion group OTB SpA published key financial data for the 2025 financial year on Tuesday. Accordingly, the parent company of brands such as Diesel, Jil Sander, Maison Margiela, Marni and Viktor&Rolf had to accept losses in sales, but was also able to observe positive developments.

In the most recent financial year, which ended on December 31, the group’s total sales amounted to 1.7 billion euros. This corresponded to a decrease of 4.8 percent at constant exchange rates compared to 2024. Net sales were 1.6 billion euros and thus fell by five percent after adjusting for currency effects.

Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to 237.3 million euros with a margin of 15.1 percent. Earnings before interest and taxes (EBIT) amounted to 10.1 million euros.

Maison Margiela recorded growth of 8.4 percent

CEO Ubaldo Minelli highlighted the progress: “Among the most positive developments is Maison Margiela, which is closing the year with significant growth of over eight percent, thus confirming its course,” he said in a statement. “There are also very encouraging results for diesel, which has achieved the highest profitability in the last ten years. Development in Japan remains stable.” Despite a “complex national economic situation”, this market continued to develop positively for the group and accounted for over 27 percent of global sales. “I am also very pleased with the results in North America, which is showing signs of growth, as well as with the initial positive feedback from the Middle East and Mexico,” said Minelli.

The net financial position amounts to 40 million euros.

“Maison Margiela’s growth trend continues and consolidates its importance within the OTB Group,” explained management. Overall, the group recorded positive growth despite an unfavorable environment for the fashion and luxury market. positive results both in new regions such as the Middle East and in established markets such as North America. The geopolitical picture was characterized by great uncertainty and unfavorable exchange rate developments.

The group’s own retail sales fell by 2.6 percent, while in the wholesale business they fell by 14.7 percent.

As far as individual geographical areas are concerned, the Japanese market held its own, accounting for 27.4 percent of total sales. The company reported increases of 5.9 percent in North America and nine percent in the Middle East. However, it experienced weakening in China and Europe.

“I am convinced that creativity must always be at the heart of business processes,” said Renzo Rosso, the founder and chairman of the OTB Group. “This is true even in a complex historical time when the fashion industry is slowing down due to the global geopolitical and economic situation. It is the only real weapon we have to emerge from any crisis. Because it allows us to anticipate change, innovate and turn difficulties into concrete growth opportunities.”

The development of the individual OTB brands

Looking at the individual brands, management emphasized that Diesel was able to improve its profitability. Thanks to the investments made in recent years to reposition the brand, the best result in the last ten years was achieved.

The label continued to focus on values ​​such as democracy and inclusion. So it held its first fully public show during Milan Fashion Week in September, when it presented its collection for the Spring/Summer 2026 season.

Last year, Diesel continued to invest in its own retail with major new openings in Berlin and Seoul. One of the brand’s largest flagship stores was opened in the Hannam district of Seoul. It is designed as a cultural hub integrating fashion, design and global trends. In January this year, Diesel also announced the appointment of Andrea Rigogliosi as CEO of the brand.

In the luxury segment, Maison Margiela continues its positive trend with an increase of 8.4 percent. The brand is experiencing the strongest growth within the group. “With the appointment of Glenn Martens as creative director, the brand was the protagonist of Haute Couture Week in Paris in July,” the statement said. The designer’s first “Artisanal” show took place there, followed by the ready-to-wear collection in October 2025.

During the year, the brand continued its international retail expansion. It entered the Canadian market, opened its first stores in Mexico and strengthened its presence in the Middle East.

In the spring, Jil Sander announced the appointment of Simone Bellotti as creative director of the brand, with the aim of further strengthening the positioning of a strategic fashion house for the group. Bellotti presented its first ready-to-wear collection for the Spring/Summer 2026 season during Milan Fashion Week in September. This was followed by the pre-collection for the fall/winter 2026 season.

During the year, the brand strengthened its retail presence in the Asia Pacific region with new openings in China and Japan. Jil Sander also presented the first fragrance line “Olfactory Series 1” in collaboration with Coty. In addition, the historic collaboration with Puma was revived, revisiting a groundbreaking dialogue between luxury and sport that began in 1998.

The Marni brand has entered a new phase with the change of creative leadership. Meryll Rogge was entrusted with management. This decision reflects the desire to strengthen the brand’s identity through a contemporary vision consistent with the house’s original DNA. The new creative director’s runway debut is expected during the upcoming Milan Fashion Week in February.

Viktor Horsting and Rolf Snoeren, the founders and designers of Viktor&Rolf, were confirmed as creative directors of the haute couture house in February 2025. They celebrated their 30th career anniversary with the exhibition “Viktor&Rolf. Fashion Statements”. After Munich, the exhibition was shown at the High Museum of Art in Atlanta.