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OTB group takes control of Jil Sander

OTB group takes control of Jil Sander

It’s official. Only The Brave (OTB), the Italian fashion group led by Renzo Rosso, has acquired Jil Sander, the Hamburg-based label known for its minimalist style.

 

The acquisition, which had already been the subject of numerous rumors, allows Jil Sander to join a group of dynamic designer brands that includes Maison Margiela, Marni and Viktor&Rolf.

 

OTB announces the addition of a new iconic name to its unique portfolio of fashion houses: Jil Sander“, the Italian group announced in a press release on Friday.

 

Founded by the eponymous German designer in 1968, Jil Sander has become one of Germany’s most influential fashion houses in recent decades.

 

After being acquired by Prada twenty years ago, the house was finally bought by the multi-brand Japanese fashion conglomerate Onward Holdings in 2008. Since 2017, the brand has been under the critically acclaimed creative direction of Lucie and Luke Meier.

 

OTB and Onward Holdings have signed an agreement under which the Italian group will acquire 100% of Jil Sander“, the Venetian group announced. The terms of the agreement were not disclosed.

 

I have admired and respected the Jil Sander fashion house since its inception. Despite the change in ownership and creative direction, the house has always remained true to its founder’s vision and has maintained an absolute commitment to beauty, quality and its signature: a minimalist approach. To welcome this timeless gem into our group of unique and unconventional labels is an honor and a long-term undertaking“, said OTB President Renzo Rosso.

 

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OTB is not only the parent company of Diesel, but also controls Los Angeles-based Amiri, while its production company Staff International holds worldwide licenses for trendy brands such as DSquared2 and Koché.

 

For 2020, the group reported consolidated sales of 1.317 billion euros, EBITDA of 176 million euros and a strongly positive net financial position of 175 million euros.

 

Read also > LUXURY WATCHMAKING : ID GENEVE’S NEW ECO-RESPONSIBLE WATCHES

 

Featured Photo : © Jil Sanders

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