Fashion Group OTB Declined Last Year To Invite Li Yuchun To Endorse Sales.

According to the world clothing and shoe net, after the appointment of new CEO Ubaldo Minelli at the end of last year, it owns Diesel, Marni and Maison Margiela. brand Of OTB Group performance seems to be gradually returning to the right track.

Italy Latest fashion Group OTB recently announced its annual performance in fiscal year 2017, and its pre tax profit jumped 4 times to 21 million 500 thousand euros over the same period last year. It was only 5 million 100 thousand euros in the last fiscal year, and its net profit was flat at 3 million euros compared with the previous fiscal year. However, group sales fell 2.4% to 1 billion 520 million euros compared with the previous fiscal year, and 1 billion 580 million euros in the 2016 fiscal year.

OTB is the abbreviation of Only The Brave, founded by Renzo Rosso. After Diesel was founded in 1978, Renzo Rosso fully controlled the brand in 1985. In 2000, Renzo Rosso indirectly acquired Dsquared, Just Cavalli, Marni Men, HISTORY Maison Maison and Staff brand licensing and production license through the acquisition of Staff International.

In 2002, Renzo Rosso became the major shareholder of Maison Margiela. After 6 years, it bought the designer brand Viktor&Rolf, and in 2013 and 2016, it won the luxury brand Marni and Paula Cademartori.

Thanks to the growing demand of consumers, Marni's revenue grew by two digits last year. The sales performance of Maison Margiela was also promoted by the Paris design retrospective exhibition. However, the group did not publish the relevant data of the core brand Diesel, and the brand art director Nicola Formichetti left at the end of last year.

It has been 5 years since Nicola Formichetti joined Diesel in 2013 and became artistic director. But Renzo Rosso is not in a hurry to appoint the replacement of Nicola Formichetti. He said the brand is in the critical stage of spanformation, and any decision must be cautious.

Since the resumption of the cowboy business in 2016, Diesel has been adjusting its high-level internal personnel, and brand CEO has been in a vacancy until now.

In order to fill the long idle CEO office, Diesel launched the "CEO" (Chair Executive Officer) campaign in November last year through social media Facebook. He stressed that the most important candidate for this position is to be good at sitting, and the winner can serve as a "CEO" for a week in the general Diesel department.

Interestingly, in February, Diesel opened an official counterfeit shop called "DEISEL" in New York Canal Street, USA, which is famous for selling many luxury brands such as Gucci, Prada and Rolex.

The picture shows Diesel's "DEISEL" flash store opened on Canal Street, us.

A spokesman for the brand said consumers may not realize that they bought the exclusive product of the Diesel design team in the store, which also recorded their shopping experience by camera. It is reported that the store sells products including "Deisel" logo T-shirts, sportswear and hats, limited edition jeans and lifestyle products.

In view of the fact that the Chinese market has become the key driver of the recovery of the major fashion brands, Diesel announced in August last year that Li Yuchun became the first global spokesperson for the brand. Apart from working with Li Yuchun, it will launch a series of deeper cooperation with Li Yuchun. According to data, Diesel sales in fiscal year 2016 recorded 960 million euros, accounting for 60% of total sales, but the first recorded losses were mainly affected by the downturn in the European and US markets.

It is reported that in 2017, the group has appointed Giovanni Pungetti as chief executive of Greater China, and is also optimistic about the potential of online channel market, and will increase investment in digital spanformation of its brand.

Up to now, Diesel has 5000 sales outlets in 80 countries, including 275 flagship stores.

In addition, the group's original CEO Riccardo Stilli also left at the end of last year. Riccardo Stilli has served as the chief financial officer of luxury brand Prada, and has successfully experienced the successful listing of the brand. Therefore, it is reported that OTB group invited Riccardo Stilli to join the group to be listed.

However, because the group's brand business is too cluttered, Riccardo Stilli's initiatives after its taking office have been revolved around the reorganization, which has delayed the performance and finally left the market in a dark mood. After realizing that airborne CEO is not necessarily suitable for the group's development mode, OTB group chose to promote from inside. Ubaldo Minelli, which has joined the group for 17 years, took the lead at the end of last year, after being CEO of group's Staff International.

The picture shows OTB group's new CEO Ubaldo Minelli.

It is noteworthy that, with the revival of the group's business performance, the ambition of Renzo Rosso has further expanded. At the beginning of this year, Red Circle Investments, a family investment company, invested in the professional model reservation website Ubooker Worldwide Ltd, and the specific financial details have not yet been disclosed. Upon completion of the spanaction, Renzo Rosso will join the Ubooker Worldwide Ltd board.

Ubooker Worldwide Ltd was founded in February 2017 by model Diana Gaertner and Claudia Wagner. Users can choose professional models through App and website Ubooker. Models can also choose jobs around the world through Ubooker, while better managing expenses and schedules.

In this regard, Renzo Rosso expressed the hope that it would change the entire fashion industry with technology, and Ubooker Worldwide Ltd as the Airbnb of the fashion industry, so as to provide a more spanparent and sustainable industry atmosphere for the new generation of models.

For the 2017 financial year's performance, Ubaldo Minelli revealed that although the high-end brands of Marni, Maison Margiela and other high-end brands recorded significant double-digit growth, especially in the Asian region, they were still subject to a one-time tax effect resulting from changes in US and Japanese laws and regulations, amounting to about 7 million euros.

Faced with the global environment of political and economic instability, Ubaldo Minelli said that the group's current reform measures aimed at further improving business efficiency and efficiency, and will continue to accelerate business restructuring in the future. He stressed that the continued growth of the group's high-end brands means that some of the reform measures have come into effect.

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