Companies

Fashion group OTB acquires Italian shoe supplier Calzaturificio Stephen

Mar 27, 2024 Italy

The Italy-based group, owner of fashion brands such as Margiela, Jil Sander, Marni, Viktor&Rolf and Diesel, has acquired a majority stake in luxury footwear manufacturer Calzaturificio Stephen

Based in Italy, Calzaturificio Stephen has been a strategic supplier to the company for over 20 years, producing the popular Tabi shoes for OTB’s Maison Margiela brand. This acquisition is part of the fashion group’s strategy to optimise its supply chain by acquiring Italian-based companies to support the development of its brands. In 2023, for example, it acquired a majority interest in the leather goods atelier Frassineti.

“Made in Italy became our trademark, thanks to a close collaboration with the companies in our incredible supply chain: a unique asset that makes us extremely competitive on international markets. This is why as a Group we invest in local players who have built the reputation of Italian fashion around the world, to guarantee their continued growth and increasingly sustainable development”, explained Renzo Rosso, OTB chairman and founder.

While the financial details of the acquisition were not disclosed, the stake in Calzaturificio Stephen was acquired through Staff International. The current CEO of the 47-year-old Calzaturificio Stephen, Stefano Bertollo, part of the second generation of family owners, will remain in his role. According to the statement, OTB will provide the company with resources aimed at “supporting the company’s further development and evolution in terms of technology, innovation, and sustainability”.

Fashion group OTB owns a portfolio of brands including Margiela, Jil Sander, Marni, Viktor&Rolf and Diesel, as well as manufacturers such as Brave Kid and Staff International. In 2023, it reported net sales of 1.8 billion euros, an increase of 9.1% as compared to 2022.

Image Credits: whoiskaan.top

Italy Acquisitions Companies Footwear Manufacturing Shoes