Italian style group OTB opens subsidiary in Mexico

OTB has intensified a march in Latin America. The Italian style group, proprietor of the Diesel denim label and luxurious labels corresponding to Viktor & Rolf and Maison Margiela, has established a subsidiary in Mexico to consolidate its presence “in one other necessary American nation, along with the US and Canada,” as OTB declared in a press launch.

In 2024, OTB created a company entity within the capital of the nation, Mexico Metropolis, the main target of its native operations and primary investments. The target of the newly created firm is to oversee the operations and direct retail growth in Mexico of the Diesel, Jil Sander, Marni and Maison Margiela labels, together with the up to date line of the latter, MM6.

OTB has additionally signed an affiliation settlement with the Luxurious Division Chain El Palacio de Hierro, a household title in Mexico, a gaggle that has greater than a century outdated and has 31 shops. OTB is anxious to develop in states corresponding to “Guadalajara, Monterrey, León, Cancun, Puebla and Querétaro, when opening shops and concessions of Monobrand”.

In Mexico, it goals to extend its retail and off -line retail footprint, and intensify its advertising exercise. The group will open roughly 50 new shops within the subsequent 5 years, 15 of them scheduled in 2025.

In 2024, OTB generated revenue of € 1.eight billion, 5.2percentless. Its gross sales in Asia collapsed, apart from Japan, however grew by 13.three% in North America. Establishing a company presence in Mexico is a proof of OTB’s need to seek out new markets, whereas sustaining its impulse within the areas the place its efficiency is stronger. OTB has reached a joint enterprise settlement with the Chalhoub group within the Center East, the place it’s already current, to accentuate the rhythm of its retail growth within the area.

“Mexico is an influential inventive and cultural nation with its personal distinctive model and vitality. Establishing a direct presence for our group within the area is a key step within the development path of our manufacturers, and within the development of a better and extra genuine reference to native shoppers and this unbelievable nation,” stated Rosso, founder and president of OTB.