Italian fashion group OTB reported revenue of 1.7 billion euros ($1.78 billion) for 2025, down 4.8% at constant exchange rates in what CEO Ubaldo Minelli described as “one of the most complex years for the fashion industry.” EBITDA stood at 237.3 million euros ($248 million), representing a 15.1% margin on net sales. Maison Margiela led brand performance with sales growth of 8.4%, while Diesel achieved its highest profitability in a decade following repositioning efforts.

The Chinese market experienced a slowdown during the year, while North America grew 5.9% and the Middle East rose 9%. Wholesale declined nearly 15%, prompting continued focus on direct channels. The group invested 64 million euros ($67 million) in retail expansion and rationalization, opening 49 new stores, closing 58, and relocating others to more strategic positions. OTB aims to reduce wholesale to 25–30% of total turnover over time.

Three brands appointed new creative directors during the year: Simone Bellotti at Jil Sander, Meryll Rogge at Marni, and Viktor Horsting and Rolf Snoeren were reappointed at Viktor&Rolf, celebrating 30 years with an exhibition in Atlanta. In January 2026, OTB renewed its licensing agreement with Dsquared2 for five years, extending a collaboration spanning more than two decades.

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