Italian fashion group obtains €50 million in bank loan

Italy
Published:  09 October, 2020

OTB, the parent company of fashion brands such as Diesel, Maison Margiela, Marni and Viktor & Rolf, is reported to have secured a €50 million loan for international expansion strategies.

The €50 million loan, obtained through Italian banks Cassa Depositi e Prestiti, aims to finance expansion projects, with a particular focus on the production chain and R&D to boost innovation. Allegedly, the Group will prioritise high-potential markets such as China. OTB, an acronym for “Only The Brave”, is present in 90 countries with more than 600 stores. The Group closed the 2019 financial year with consolidated revenue of €1.53 billion, up 6.4% against 2018, with a gross operating margin at €190 million and EBIT at €18 million.

Source: Mattino Padova