Renzo Rosso, the Italian fashion mogul who made his name as the founder of Diesel jeans, is on the lookout for new deals — even after a setback in his bid to buy the Versace brand.
“We have no partners, no debt and we’re not listed,” Rosso, chairman of the OTB holding, said in an interview in Milan. That combination creates room for maneuver that bigger rivals can’t match, he said.
Rosso in February made a “formal bid” to buy the Versace and Jimmy Choo brands from US-based Capri Holdings. But it “was never considered, and we don’t know why, even if our offer was in line with the final deal,” Rosso said.
Rosso remains undaunted, however, and said he’ll consider other deals. “There are many more dossiers on our desk,” he said.
One possibility that’s been mentioned in the industry could be Milan-based fashion house Etro, controlled by L Catterton, the private equity firm backed by LVMH founder Bernard Arnault.
Clearly, though, Rosso has a type of target in mind.
“I don’t want to buy just for the sake of buying,” he said. While some possible acquisitions offer “decent revenue,” in many cases they’re not of interest because “they are not cool, not bold, maybe they don’t have as strong a brand identity as ours.”
OTB reported turnover of €1.8 billion ($2.04 billion) for 2024, down 4.4% at constant exchange rates compared with the previous year. Japan and North America rose 16.3% and 13.3%, respectively.
While an initial public offering remains a possibility at some point, Rosso said the option doesn’t make sense under current market conditions.
“We don’t need an IPO to make acquisitions, if we want to buy, we can make our move,” he said.
Dubbed the “Jeans Genius” by some media outlets, Rosso, 69, founded Diesel in the late 1970s, and acquired complete control of the brand in 1985. In 2002 he created OTB as a holding for Diesel and for future acquisitions. The group today encompasses brands including Jil Sander and Maison Margiela.
Rosso says he’s now considering raising prices in the US to counter potential effects of future tariffs and fading consumer demand.
“Traffic in US shops is declining by double-digit percentages, while consumers are holding back on purchases,” he said.
To react, Rosso is planning more US events for the full range of OTB brands, not just the high-end ones, while adjusting his distribution network.
Rosso has always seen the US as key to his group’s success. As far back as the 1980s, he made bets on Diesel’s now-signature worn-out look and on a push into the US market.
“Being part of the American dream was a must,” Rosso said. And when it came time to open the first Diesel store in the US, he deliberately picked a spot near a Levi’s location on New York’s Lexington Avenue.
Why? “To show them that my jeans were the coolest thing around.”
Having secured £5 million in seed funding “to redefine the future of fashion”, fashion brand Sheep Inc has bought its first major innovation to market.
Following two years of R&D and extensive trials to produce a material “that feels like air”, Fibregen’s billed as a “revolutionary 100% regenerative material designed to redefine comfort and amplify impact”.
Merging “nature’s finest fibres with next-generation textile engineering through precision innovation”, we’re told it brings together a three-layer natural blend of regenerative cotton and superfine Merino wool “delivering a sensory experience unlike any other – so light and soft, it feels like wearing air”.
Developed in collaboration with Inovafil in Portugal, Fibregen also features two outer layers of breathable regenerative cotton to offer structure and softness. Meanwhile, a non-dyed Merino wool core “adapts to body temperature — regulating, balancing, and moving with you — for effortless comfort across every moment of the day”.
Sourced from Good Earth Cotton and coupled with that FibreTrace technology, “every thread is fully traceable, ensuring unmatched transparency, provenance, and accountability”.
The launch is supported by a campaign called ‘Redefining Performance’, shifting the the narrative from ‘Pushing harder. Going faster. Sweating more’ to ‘Balance over burnout. Well-being over exhaustion’… designed for modern life, Fibregentum “invites you to move with purpose — not pressure”.
The collection debuts with a unisex range of Hoodies and Sweatshirts offered in five nature-inspired colourways: Cloud Ash (Ecru), Mineral Sea (Aqua), Storm Blue (Navy), Deep Earth (Dark Brown), Lavender Haze (Lilac).
Crew Clothing has moved into the women’s athleisure space, launching a collection called SuperLuxe.
The capsule “combines comfort with the premium British lifestyle brand’s signature style” and features a selection of “super-soft casual styles, perfect for relaxed days and gentle, everyday movement”.
Key to the collection is the signature fabric, produced from a viscose, polyester and elastane blend, “offering the benefits of breathability, wrinkle-resistance and ease of movement”.
The “understated” separates have been designed in a muted, tonal colour palette, “allowing the customer to mix and match different pieces within the range”.
Brand detailing includes “subtle” silicone printed logos and hardware, “in keeping with the quiet luxury aesthetic of the capsule”.
The 38-piece collection includes a SuperLuxe Half Zip sweatshirt, Slim Jogger with a split hem, and Relaxed Shorts.
All of the pieces have also been designed to be styled with Crew Clothing’s wider collection, it noted. Prices range from £35-£65.
Big car marque meets big rock band. Aston Martin Aramco has teamed up with the Rolling Stones for the first of several planned activiations kicking off with an “ultra-exclusive, co-branded merchandise collection.
Fusing “the speed and precision of Formula One with the rebellious spirit of rock and roll”, the limited-edition collection, which includes hoodies, tees and caps, all sport the famous Rolling Stones tongue logo blended with the equally famous Aston Martin wings.
Ahead of the full collection launching online on Monday (28 April), they’ve co-launcheda digital campaign with content featuring the Stones’ song Hot Stuff as its centrepiece.
The collection also builds on the Aston Martin team’s expansion into “wider culture” across music, fashion and sport, and comes after a collaboration with singer/songwriter Tems at F1 75 Live at the O2 Arena earlier this year.
Rob Bloom, chief marketing officer for team Aston Martin Aramco, said: “This collaboration… combines two British icons famed for passion and style. This is just the beginning, with several exciting projects to land in the coming months.”
David Boyne, managing director of Bravado UK, the company behind Rolling Stones merchandising, added: “This capsule collection brings together two British icons, blending fresh takes on classic Rolling Stones imagery with inspiration from the precision and performance of the Aston Martin Aramco Formula One team.”
Politics8 years ago