Sales up 12% for OTB in 2022

15/02/2023
Sales up 12% for OTB in 2022
Fashion and luxury group OTB, based in Breganze, Italy, has published its financial results for 2022. Net sales for the owner of Diesel hit €1.6 billion, up 12% from the year before. The group said this increase was driven mainly by its luxury segment (Jil Sander, Maison Margiela, Marni) and by its global retail expansion, with strong dynamics in the North American and Asia-Pacific regions. In the course of 2022, the group headed by Renzo Rosso invested €81 million in its own DTC retail operations, introducing a new concept store for its denim brand.

The group said that Diesel, under the helm of creative director Glenn Martens, is on track to be recognised as an “alternative-to-luxury” brand and is seeing growing “interest and engagement from a global audience of new clients and brand lovers,” reads a company statement. The denim brand was cited among Lyst Index’s 10 hottest brands in 2022.

Commenting on the evolution of the brand he founded, OTB group chairman Renzo Rosso said: “I’m proud of the action we are taking to reposition Diesel, which, with Glenn Martens, is enjoying a period of great visibility and in 2022 was included in the ranking of the coolest and most popular brands. This all takes a lot of work but we are beginning to see the results, thanks to the excellent performance of a number of iconic products and the growing interest of a young audience of new clients around the world.”

As part of the group’s new sustainability strategy, Diesel is currently rolling out a new range, called Rehab Denim, with products made from a recycled cotton/recycled elastane fabric and dyed using Dry Indigo Technology.

Image: Diesel website