The Tamesis
OTB Group, which owns Maison Margiela, Diesel, Jil Sander and other brands, reported that net sales fell 5% year-on-year to 1.6 billion euros in the year ended December 31, 2025. Sales were impacted by significant declines in the wholesale channel and continued slowdowns in China and Europe.
Full-year EBITDA was 237.3 million euros, with a profit margin of 15.1%. OTB will invest in its direct-to-consumer (DTC) channel in 2025, which currently accounts for 60% of revenue. On a constant currency basis, wholesale sales fell 14.7%.
Maison Margiela, which hired Glenn Martens as creative director in January last year, saw sales increase 8.4%, the highest among all OTB brands. The group did not disclose sales figures for other brands, but noted that Diesel has become the most profitable brand in a decade. Both Jil Sander and Marni will welcome new creative directors in 2025 – Simone Bellotti and Meryll Rogge respectively.
Renzo Rosso, founder and chairman of OTB Group, said of the appointment: “I strongly believe that even in complex times when the fashion industry is slowing down due to the economic and geopolitical situation, creativity must always remain at the heart of business processes. “Creativity is our real tool to overcome any crisis, as it allows us to anticipate changes, innovate and transform difficulties into tangible growth opportunities.”
The company did not disclose specific sales performance figures in its major regions but highlighted slowing sales in China and Europe. At the same time, the Middle East has become a new growth area for the group, and the Japanese market (accounting for more than 27% of turnover) remains stable. In addition, OTB opened 9 stores in Mexico last year and established a joint venture with Chalhoub Group to expand its business in Qatar and Kuwait in 2026.
Ubaldo Minelli, CEO of the OTB Group, said: “2025 will probably be considered the most challenging year in the fashion industry. Against this background, I am particularly proud of the resilience shown by the OTB Group. The most difficult moments are when the value of people and team spirit truly emerge.” “Looking ahead, we have set ambitious goals for the future development of the group and will continue to invest firmly to make OTB one of the most influential groups in the international fashion industry.”
