There could soon be something big happening in the Italian fashion industry again: After the takeover of Stone Island by Moncler just made waves, rumors are now circulating that Only The Brave, the holding company of Renzo Rosso, is said to be interested in the designer fashion brand Jil Sander–as reported by industry magazine WWD.
Through this takeover, Jil Sander could become part of OTB’s brand portfolio, which already includes Diesel, Maison Margiela, Marni, Viktor&Rolf and Amiri.
An official confirmation from OTB is still pending, but at least this comment was published: “It is true that we are evaluating different opportunities and companies currently on the market. We want to increase our critical mass and we want to do it in a modern and sustainable way, firstly supporting and strengthening the pipeline, and in general the Made in Italy, as we did all throughout this pandemic, consistently with the strategic vision of the group and of our entrepreneur,” it says in a statement by OTB.
Look by Jil Sander
Italian companies have recently been supported financially by the Italian government in order to face the difficulties caused by COVID-19. Also OTB received €50 million subsidies from the italian state. Though there are other reasons that guide an entrepreneur such as Renzo Rosso in willing to buy a prestigious fashion brand such as Jil Sander, now designed by Luke and Lucie Meier and controlled by the Japanese group Onward Holdings Co. Ltd. since 2008.
In 2019, OTB, whose yearly revenues hit €1.53 billion, had also increased its shares in Viktor & Rolf to 70% and considered to invest in Roberto Cavalli–despite the latter was later bought by Damac Properties from Dubai. In any case, building a diversified fashion portfolio is a solid ambition and therefore this step could be part of OTB’s strategy.