The Italian fashion group OTB SpA closed the last financial year with pleasing figures. “2021 has been an extremely satisfying year in which we have met and in some cases even exceeded all of our targets – particularly in challenging economic and social conditions,” said Chairman Renzo Rosso in a statement on Thursday.
The group, which includes brands such as Diesel, Jil Sander, Maison Margiela, Marni and Viktor & Rolf as well as the companies Staff International and Brave Kid, had total sales of 1.53 billion euros in 2021, adjusted for special income. Compared to the previous year, this means an increase of 16.2 percent. The group of companies thus reached the level of the pre-crisis year 2019 again. Net sales amounted to almost 1.46 billion euros and thus exceeded the previous year’s figure by 18 percent. According to OTB, business developed best in the Asia-Pacific region and in North America.
The growth engine was the group’s luxury labels: The combined sales of the brands Marni, Maison Margiela, Jil Sander and Viktor & Rolf were 49 percent above the previous year’s level and 55 percent above the comparative value of 2019. The takeover of Jil, which was completed last April, contributed to this Sander at. Since then, the label has increased its revenues “considerably” and reached the break-even point, explained OTB.
The group of companies also made strong progress in terms of earnings: Adjusted for special effects, earnings before interest, taxes, depreciation and amortization (EBITDA) reached EUR 258 million, up 47 percent on the previous year. The net profit was 142 million euros, after only a surplus of just under one million euros had been achieved in 2020.
Given the latest developments, Rosso sees the group on track in its reform efforts: “Thanks to the work of the past few years, the group is in a stronger position to take the next steps in its ambitious strategic plan from now until 2024,” stated he. The Group has identified the Asia-Pacific region in particular as a “strategic market”. In addition, the organization in North America has been strengthened, among other things, by the appointment of new managers, explained OTB.