Renzo Rosso’s OTB Group reports declining profits
Only The Brave (OTB) Group owned by Italian entrepreneur Renzo Rosso reports major decline in profits for 2013, to 4 million euros, a net decrease from 67.5 million euros in 2012. Overall revenues slightly improved from 1.5 to 1.6 billion euros, and EBITDA fell from 204,000 euros in 2012 to 138,000 euros in 2013. Income from royalties increased by 5.4% to 35 million euros.
OTB Group’s negative profit results are motivated by the group’s investments in Dutch fashion company Viktor&Rolf. Thus, internal cash reserves declined from 28,6 milion euros in 2012 to 15,1 million euros.
OTB owns several fashion brands: Diesel, Marni, Martin Margiella and Viktor & Rolf. Renzo Rosso also controls Staff International which is the manufacturing arm of the group, producing in licensing for other brands such as: Dsquared2, Marc Jacobs Men, Vivienne Westwood and Just Cavalli.