Otb Group reports negative financials for 2014
Italian group Otb (Only The Brave) net sales in 2014 amounted to 1.498 billion euro (-1.2%), operating profit to 117.4 million (-14.9%), while net profit grew to 5.5 million, from the previous 1 , 2 million euro.
The report also highlights economic new lines of credit for 200 million euro, which will be added to the net position of 105 million euro. This gives the group the opportunity for further acquisition.
Analyzing the performance of 2014 Riccardo Stilli recalled that the past year has has been a defining year for Diesel (which accounts for 65% of consolidated revenues of the group, Ed), following the arrival, in 2013, the artistic director Nicola Formichetti.
The last year also saw the entry into the holding of John Galliano, as creative director Maison Margiela, with an immediate impact on the progress of the brand.
The recent acquisition of Roberto Cavalli by Clessidra should advantage Staff International, the subsidiary of Otb which produces and distributes in licensing the Just Cavalli line.
Marni, which Otb acquired in 2013 “is continuing the development of its organizational structure,” and recalled that during the year signed license with Brave Kid (the same otb) for the line with Staff International child and that menswear.