In a year marked by global economic uncertainty and currency challenges, OTB Group defied the odds in 2025, showcasing remarkable resilience and growth within its portfolio of luxury brands. Despite a 5.9% dip in net sales to €1.6 billion, the group’s unwavering commitment to creativity emerged as its secret weapon, according to CEO Ubaldo Minelli. But here’s where it gets intriguing: while sales figures dipped, OTB’s strategic focus on innovation and brand reinvention set the stage for future success, particularly at Maison Margiela and Diesel.
Creativity isn’t just a buzzword for OTB—it’s a survival strategy. Founder and Chairman Renzo Rosso, who celebrated his 70th birthday last year, emphasized that creativity is the group’s “true tool to overcome any crisis.” But is creativity enough in a slowing fashion sector? Rosso argues it’s not just about aesthetics; it’s a strategic vision blending innovation, sustainability, and bold business decisions. And this is the part most people miss: OTB’s approach isn’t just about surviving; it’s about transforming challenges into growth opportunities.
OTB’s portfolio, which includes Diesel, Jil Sander, Maison Margiela, Marni, and Viktor & Rolf, saw Maison Margiela lead the charge with an 8.4% growth in 2025. This success comes on the heels of Glenn Martens taking over as creative director, replacing John Galliano. Martens’ debut artisanal and ready-to-wear collections, coupled with the brand’s retail expansion into Canada, Mexico, and the Middle East, signal a new era for the label. But here’s a thought-provoking question: Can Martens sustain this momentum in 2026, or will the brand face growing pains as it evolves?
Diesel, OTB’s largest brand by sales, also shone in 2025, recording its best results in a decade. The brand’s profitability surge is attributed to significant investments in repositioning and streamlining its wholesale channel. The opening of flagship stores in Berlin and Seoul, particularly the latter’s cultural hub in the Hannam district, underscores Diesel’s ambition to merge fashion with global trends. Yet, with Andrea Rigogliosi appointed as Diesel’s CEO after a three-year vacancy, one wonders: Will this leadership change further accelerate Diesel’s growth, or will it introduce new challenges?
OTB’s financial performance wasn’t without its hurdles. Earnings before interest, taxes, depreciation, and amortization dropped 14% to €237.3 million, while operating profit plummeted from €44 million in 2024 to €10.1 million in 2025. Minelli attributed these declines to investments in directly operated stores, innovation, and AI, as well as creative transitions at Margiela, Jil Sander, and Marni. These changes, while costly, were necessary to “revisit the offer” and devalue carryovers. But is this a risky gamble, or a calculated move to future-proof the brands?
OTB’s global footprint also expanded in 2025, with direct operations launching in Mexico and joint ventures in Qatar and Kuwait. The group now has a presence in 27 countries and sales channels in over 100 markets. Notably, the Japanese market remained resilient, accounting for 27.4% of total sales, while the U.S. and Middle East saw growth of 5.9% and 9%, respectively. However, Europe and China experienced slowdowns, raising questions about OTB’s strategy in these regions. Minelli remains optimistic about Greater China, citing 113 directly operated stores and upcoming events like Maison Margiela’s Shanghai show. But with China’s economic landscape shifting, is this optimism warranted?
Sustainability and social responsibility remained at the forefront of OTB’s initiatives, with increased use of low-impact materials and renewable energy procurement. The OTB Foundation continued its impactful work, supporting educational projects against bullying, emergency response in conflict zones, and female empowerment. Yet, as the fashion industry faces growing scrutiny over its environmental impact, is OTB doing enough to lead the charge toward sustainability?
As OTB looks to the future, Minelli expressed confidence in the group’s solid structure and long-term strategies. While an initial public offering remains on the table, it’s not tied to a specific timeline. Instead, the focus is on strengthening the business for the long haul. But with rumors swirling about potential investments, will OTB expand its portfolio further, or double down on its existing brands?
Here’s a controversial take: As OTB leans heavily on creativity and innovation, could its emphasis on these areas overshadow the need for financial stability in uncertain times? And as the group navigates creative transitions and market slowdowns, will its bold strategies pay off, or will they expose vulnerabilities?
What’s your take? Do you think OTB’s focus on creativity and innovation is a winning strategy, or does it need to prioritize financial stability in today’s volatile market? Share your thoughts in the comments below!
