After two good years in 2022 and 2023, the Italian luxury group (Diesel, Jil Sander, Maison Margiela, Marni and Viktor & Rolf) had a year of consolidation in 2024, hampered in the Chinese market and the wholesale channel.
The clouds are also gathering for OTB.
After the “strong performance” in 2022 and 2023, the Italian group, owner of the Diesel, Jil Sander, Maison Margiela, Marni and Viktor & Rolf brands, has just revealed a decline in performance in 2024.
Like many of its luxury competitors, it admits to having suffered from “a particularly difficult and constantly changing market environment”, with several handicaps: the slowdown in the Chinese market and the wholesale circuit. However, these difficulties were partly offset by the good momentum in Japan, a key destination for it, the United States and retail.
Decline in turnover
However, it was unable to prevent its total revenue from falling by 5.2% at current exchange rates (-4.4% at constant exchange rates) to 1.8 billion euros in 2024. Its net turnover – excluding royalties and other income – fell by 4.9% at current exchange rates (-3.1% at constant rates) to 1.7 billion euros.
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Read also > Serge Brunschwig appointed to the strategic management of OTB and CEO of Jil Sander
Featured photo: © OTB Group
