OTB Group — which owns Maison Margiela, Diesel, Jil Sander, and more — reported a 5% year-on-year decline in net sales to €1.6 billion for the year ended December 31, 2025. Sales were impacted by a significant dip in the wholesale channel, as well as an ongoing slowdown in China and Europe.
For the full year, EBITDA sits at €237.3 million, with a 15.1% margin. OTB invested in its direct-to-consumer (DTC) channels in 2025, which now represent 60% of turnover. Wholesale sales declined 14.7% on a constant currency basis.
Maison Margiela, which hired Glenn Martens as creative director last January, reported 8.4% sales growth, the highest of all OTB brands. The group did not share sales figures for its other houses, but noted that Diesel has become the most profitable it has been in a decade. Jil Sander and Marni both welcomed new creative directors in 2025 — Simone Bellotti and Meryll Rogge, respectively.
“I am convinced that creativity must always remain at the core of business processes, even in complex times when the fashion sector is slowing down due to the economic and geopolitical situation,” said OTB Group founder and chair Renzo Rosso of the appointments. “Creativity is our true tool to overcome any crisis, as it allows us to anticipate change, innovate, and transform difficulties into tangible growth opportunities.”
The company did not share specific figures of sales performance across its key regions, but highlighted a slowdown in China and Europe. Meanwhile, the Middle East emerged as a new growth region for the group, and the Japanese market (which represents over 27% of turnover) remained stable. In addition, OTB opened nine stores in Mexico last year, while entering a joint venture with Chalhoub Group to expand its business in Qatar and Kuwait in 2026.
“2025 will likely be remembered as one of the most challenging years for the fashion sector. In this context, I am particularly proud of the resilience demonstrated by OTB Group. The most difficult moments are when the value of people and team spirit truly emerge,” said OTB Group CEO Ubaldo Minelli. “Looking ahead, we have set ambitious objectives for the group’s future growth, and will continue to invest with determination to make OTB one of the most impactful groups in the international fashion landscape.”
