Parent Company of Diesel and Maison Margiela, OTB, acquires Jil Sander
Jil Sander, the label know for their minimalistic and understated style, is going to have a new owner.
Milan-based fashion label, Jil Sander has been acquired by Italian fashion group OTB, as reported by Business of Fashion. The parent company of fashion labels like Diesel, Maison Margiela, Marni has said in a statement in December last year that it is on the lookout for new assets.
“We want to increase our critical mass and we want to do it in a modern and sustainable way, first of all supporting and strengthening the pipeline, and in general Made in Italy,” OTB said in an interview.
Jil Sander was first founded in Germany in 1968, and is known for its minimalist approach to ready-to-wear fashion. Its founder, Jil Sander held the position of creative director till 2004 after her namesake brand was brought over by Prada Group in 1999. In 2006, the label changed hands again as it was sold to Change Capital Partners then subsequently, Japan’s Onward Holdings bought the label two years later for €167 million. Currently, the husband-wife duo, Luke and Lucie Meier, are the co-creative directors of Jil Sander and have designed collections for the label since 2017.