Thursday, 21 Oct 2021

OTB Pushes on Beauty and Digital With Two Board Additions

MILAN OTB has made two additions to its board, which already included president Renzo Rosso, chief executive officer Ubaldo Minelli, and Rosso’s son, Stefano.

The fashion group, established by president Renzo Rosso, has tapped two independent board members who will support the company’s growth in the key areas of beauty and digital innovation.

Senior vice president of the global marketing and makeup business unit at leading cosmetics manufacturer Intercos, Arabella Ferrari, who was previously at The Estée Lauder Cos. Inc., will bring her knowledge of the beauty industry to OTB, which currently operates a portfolio of brands that includes Marni, Maison Margiela, Diesel, Jil Sander and Viktor & Rolf, as well as Amiri, in which the Italian group has a minority stake. OTB also controls manufacturing company and industrial platform Staff International, as well as children’s wear manufacturing firm Brave Kid.

At the same, Carlo Purassanta, president of Microsoft France and former president of Microsoft Italia, will support the Italian group’s digital push.

“I’m happy to welcome Arabella Ferrari and Carlo Purassanta, two individuals that I personally chose for our board,” Rosso said. “Arabella is one of the most respected international entrepreneurs in the beauty world, a sector very close to the luxury industry, while Carlo, who already gave a significant contribution to Diesel’s digital push, will support the digital transformation of the whole group.”

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Significant investments in merchandising and technology seem to be in the pipeline for the group, which in March acquired 100 percent of Jil Sander from Japanese multibrand fashion conglomerate Onward Holdings Co. Ltd. As per the most recent results available, in the financial year ended Feb. 28, 2019, Jil Sander revenues totaled 11.3 billion yen, or $104 million at current exchange rates. The apparel group Onward Holdings closed the year with sales of 240.6 billion yen, or about $2.22 billion. Onward Holdings was founded in 1927 and also owns Kashiyama and Joseph. Jil Sander is currently designed by co-creative director Lucie and Luke Meier, who joined the label in 2017.

As reported, Rosso has been chosen by Confindustria’s president, Carlo Bonomi, to be the association’s delegate focused on promoting the excellence, beauty and taste of Italian brands in the world. Confindustria is Italy’s largest association representing 150,000 domestic manufacturing and service companies.

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