- Prachi Singh |
In the fiscal year 2016, the Italian fashion group OTB’s revenue remained in line with the last year. The company’s sales were 1.580 billion euros (1.699 billion dollars) compared to 1.582 billion euros (1.701 billion dollars) in 2015, on a like-for-like basis, said a Fashion Network report.
EBITDA was 68 million euros (73 million dollars) against 68.5 million euros (73.6 million dollars) in 2015, and consolidated profits reached 3.8 million euros (4 million dollars) compared to 3.5 million euros (3.7 million dollars) in 2015.
Diesel suffers while other premium brand progress in FY16
The owner of owner of Diesel, Maison Margiela, Marni, Paula Cademartori, Viktor&Rolf, Staff International and Brave Kid, however said that Diesel suffered a setback in 2016 due to the strategic decision to reposition the brand in distribution terms, the report adds. Diesel's revenue stood at 960 million euros (1,032 million dollars), around 60 percent of the group's total revenue but the brand reported a loss at the fiscal year end.
Among other brands under the company’s umbrella, Maison Margiela posted revenue of 135 million euros (145 million dollars). Marni reported a double-digit growth with revenues of 170 million euros (182 million dollars) backed by growth of its accessories and handbags categories. Fashion Network report said that Viktor&Rolf got a boost by launch of V&R Mariage bridal line and is looking forward to double its revenue in its second season. The label already reported EBITDA growth in double digits for the year.
Premium accessories label by Brazilian designer Paula Cademartori that became a part of the OTB group in 2016, recently launched its debut monobrand store in Milan. Staff International, the company said, specialised in product development, production and worldwide distribution, continues to grow the business of all its licensed labels Maison Margiela, Marni Uomo, Dsquared, Vivienne Westwood, Just Cavalli and Marc Jacobs Men's, organically and crossed 390 million euros (419 million dollars) revenue mark.
Brave Kid, on the other hand reported revenues of 40 million euros (43 million dollars) revenue in 2016, witnessing growth across Diesel, Dsquared, John Galliano Kids and Marni and Trussardi Junior, under its umbrella.