MILAN — OTB has taken full control of Marni, three years after acquiring a 61 percent stake in the Italian fashion company.
The firms described the transaction as “the natural completion” of a path initiated with the purchase of the majority stake. Consuelo Castiglioni remains creative director of Marni and her husband Gianni Castiglioni president of the group. Ubaldo Minelli, chief executive officer of Staff International, has been appointed ceo of Marni, a role previously held by Gianni Castiglioni. Minelli will continue to also helm Staff International.
“Marni represents a fundamental pillar of our group,” said OTB president Renzo Rosso. “It is a brand that fully reflects our vision of alternative luxury, with a unique creativity and an incredible potential for further development.”
Rosso characterized the past few years with Marni as “intense and beautiful,” but said he expected the future to offer “as many challenges, investments and great results.”
Marni ended 2014, the year of its 20th anniversary, with sales of 130 million euros, or $173 million at average exchange rate, and expects “a solid double-digit growth” in 2015.
In April, Marni and Staff International, the manufacturing arm of OTB, signed a licensing agreement for the production and worldwide distribution of Marni’s men’s collections, including ready-to-wear, accessories, footwear and small leather goods, as part of a strategy to further develop the men’s division. The collaboration started with the spring 2016 collection.
This year, Marni has also inked licensing agreements with Marchon, for the production and distribution of its eyewear line and with Brave Kid for the production and worldwide distribution of its children’s line. Also, flagships in Milan, San Francisco and London have opened.