COVID-19 Effects Impact OTB 2020 Profit – WWD

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MILAN – The effects of the COVID-19 pandemic hurt OTB’s bottom line in 2020.

While the Italian group in 2019 was back in the black, reporting growth in all its brands, from Diesel and Maison Margiela to Marni, Viktor & Rolf and Amiri, as well as production arms Staff International and Brave Kid, net profits in the 12 months ended Dec. 31 were dented by the difficult global scenario, totaling 1.24 million euros, down 38 percent compared with 2 million euros in the previous year.

OTB’s sales amounted to 1.31 billion euros, a 14.3 percent decrease compared with 1.53 billion euros in 2019.

The group emphasized a 20 percent increase in revenues at Maison Margiela, which posted growth in all geographies and channels.

At the group level, the online channel grew more than 26 percent in its direct channels.

Diesel, thanks to the launch of its MOON omnichannel platform, saw its e-commerce sales increase and represent 13.3 percent of total revenues, compared with 7.9 percent in the previous year. The online channel, considering also the indirect sales, represents now more than 24 percent of Diesel’s total business.

 





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