ROME (Reuters) – Italian fashion group OTB expects annual organic sales growth of 20% in coming years and has “very ambitious targets” as the industry as a whole starts to recover from the coronavirus pandemic, chairman Renzo Rosso said.
“The coming months will certainly be positive for the sector, there are growth trends which will translate in a relaunch of the whole industry,” Rosso said in a statement on Sunday.
He added that, given customers “want to change, have fun, go out and wear (new) clothes” the fashion sector would be able to “return to pre-pandemic levels, and maybe exceed them”.
OTB – which stands for Only The Brave – owns brands including Diesel, Maison Margiela, Marni and Viktor&Rolf and took over Jil Sander from Japanese retailer Onward Holdings in March.
Rosso has said that the group aimed for an important acquisition when the time was right and that it also aimed to list in some years.
(Reporting by Giulia Segreti; Editing by Robert Birsel)