We inform you that on this website we use our own and third-party cookies to collect information about its use, improve our services and, where appropriate, display advertising by analyzing your browsing habits. You can expressly accept its use by pressing the "ACCEPT" button or configure and select the cookies you want to accept or reject in the settings. You can also get more information about our cookie policy here.

The global fashion business journal

Sep 29, 20205:29am

Diesel owner posts profits, sales grow

Italian fashion group OTB, which also owns Maison Margiela and Marni, is keeping its target for 2020 despite the coronavirus epidemic.

Mar 10, 2020 — 5:00pm
mds
Save

Diesel owner posts profits, sales grow

 

 

Diesel owner swings back to the black. Italian fashion group OTB, which also owns Maison Margiela and Marni, among others, has posted profits of 2 million euros in the 12 months ended December 31, compared with a net loss from recurring activities of 26 million euros in 2018.

 

Sales of the company grew 6,4%, to 1.53 billion euros, fuelled by growth in all markets and channels. The group’s brand opened more than 70 stores during the year, which caused retail sales to increase 9%.

 

Diesel represents 60% of OTB total revenue and posted a growth of 2.6% in 2019, after opening 45 stores. The direct e-commerce channel was the other driver of the brand’s growth, with an increase of 24.3%.

 

The group is keeping its 2020 revenue target despite the coronavirus epidemic, that has already forced other fashion companies to revise its goals for the year, according to Reuters. OTB is targeting a 12-13% annual average revenue growth, at constant exchange rates, between 2019 and 2021.

Advertising
Participation rules

info@themds.com

 

Validation policy for comments: 

 
MDS does not perform prior verification for the publication of comments. However, to prevent anonymous comments from affecting the rights of third parties without the ability to reply, all comments require a valid email address, which won’t be visible or shared.
 
Enter your name and email address to be able to comment on this news: once you click on the link you will find within your verification email, your comment will be published.

0 comments — Be the first to comment
...