Italian fashion group OTB, known for its popular brands Diesel, Maison Margiela, and Marni, has secured a €50 million loan from the Italian government. The loan, provided by state-controlled investment bank Cassa Depositi e Prestiti (CDP), is specifically intended to aid OTB’s expansion and development initiatives in light of the ongoing Covid-19 pandemic. Despite the numerous challenges faced by the fashion industry this year, OTB remains unwavering in its commitment to its growth strategy.

This financial boost from CDP is viewed as a significant advantage for OTB, as it enables the group to continue its global operations and make substantial investments in innovation and international expansion. Nunzio Tartaglia, who heads CDP’s Private Business division, emphasized the importance of supporting leading Italian companies like OTB, particularly during these trying times.

OTB has long been a prominent player in the Italian fashion industry, ranking fourth among the nation’s fashion groups in 2019. The group reported a revenue of €1.540 billion in that same year, marking a 6.4% increase when compared to the previous year. Additionally, OTB recorded an EBITDA of €190 million and possessed a net cash position of €124 million as of December 31st.

In 2019, OTB strategically acquired Californian luxury denim label Amiri and increased its stake in Viktor & Rolf. The group also boasts ownership of Brave Kid, a childrenswear specialist, and Staff International, which is responsible for the production and distribution of Marni and Margiela, as well as licensed brands like Dsquared2, Just Cavalli, and Koché.

The loan provided by the Italian government is indicative of their dedication to aiding local manufacturers during this trying period. By extending financial assistance to OTB, the government aims to ensure the continued stability of the fashion industry and contribute to the recovery of the Italian economy. OTB’s expansion plans coupled with the government’s support serve as positive indicators for the future of the fashion industry in Italy.

Useful links:
1. OTB Official Website
2. Cassa Depositi e Prestiti (CDP) Official Website