The German luxury brand was bought from Japanese fashion group Onward Holding. The terms of the deal have not been made public.

“I have admired and respected Jil Sander since the fashion house was first established,” said Renzo Rosso, founder and president of OTB. “Despite the changes of ownership and creative direction, the house has always stayed true to its founder’s vision, maintaining an absolute commitment to beauty, quality and its signature minimalist approach. To be able to welcome this timeless jewel to our group of unique, unconventional labels is an honour and a long-term undertaking.”