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Italian company OTB announced Thursday that it has acquired a majority stake in leather goods maker Frassineti. The latter has been a longtime supplier to Jil Sander, a fashion brand owned by the group.
OTB, the Italian fashion group that owns Diesel and Maison Margiela, among others, announced Thursday that it has acquired a majority stake in Frassineti, a Florentine leather goods manufacturer. The amount of the transaction was not disclosed.
Frassineti is a longtime supplier to Jil Sander, one of the flagship brands in OTB’s portfolio.
The acquisition is an initiative of Staff International, the company’s manufacturing arm, and is aimed at supporting OTB’s Italian supply chain. The Italian group, which performed well in 2022, will help the factory transition to a more sustainable business model, thanks to its technological know-how and expertise in eco-responsibility.
The Frassineti founding family will retain a minority stake and Gaia Frassineti will remain the brand’s CEO.
Preserving Made in Italy
Renzo Rosso, president and founder of the OTB Group, believes that investing in this type of business and expertise is essential for Italy’s future. His luxury brands prioritize craftsmanship and high-quality raw materials, made possible through collaborations with companies like Frassineti.
“It is these companies and expertise that make our country strong, and we must continue to invest in them”, he said in a statement.
In recent years, a growing number of luxury groups have invested in companies in their supply chain to preserve critical artisanal skills.
Hermès, for example, bought French tanneries in the 1990s and mid-2010, before opening more of its own production sites, strengthening the network in its historic market. Last March, Burberry bought Pattern SpA, an Italian workshop that had been producing outerwear for the company for twenty years, for 21 million euros. Beyond these vertical integration strategies, luxury brands increasingly consider their supply chain as a strategic asset. This is evidenced by Prada’s recent significant investments in its production facilities.
Read also >OTB aims for an initial public offering
Featured photo : ©Jil Sander[/vc_column_text][/vc_column][/vc_row][vc_row njt-role=”not-logged-in”][vc_column][vc_column_text]
Italian company OTB announced Thursday that it has acquired a majority stake in leather goods maker Frassineti. The latter has been a longtime supplier to Jil Sander, a fashion brand owned by the group.
OTB, the Italian fashion group that owns Diesel and Maison Margiela, among others, announced Thursday that it has acquired a majority stake in Frassineti, a Florentine leather goods manufacturer. The amount of the transaction was not disclosed.
Frassineti is a longtime supplier to Jil Sander, one of the flagship brands in OTB’s portfolio.
The acquisition is an initiative of Staff International, the company’s manufacturing arm, and is aimed at supporting OTB’s Italian supply chain. The Italian group, which performed well in 2022, will help the factory transition to a more sustainable business model, thanks to its technological know-how and expertise in eco-responsibility.
The Frassineti founding family will retain a minority stake and Gaia Frassineti will remain the brand’s CEO.
Preserving Made in Italy
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Italian company OTB announced Thursday that it has acquired a majority stake in leather goods maker Frassineti. The latter has been a longtime supplier to Jil Sander, a fashion brand owned by the group.
OTB, the Italian fashion group that owns Diesel and Maison Margiela, among others, announced Thursday that it has acquired a majority stake in Frassineti, a Florentine leather goods manufacturer. The amount of the transaction was not disclosed.
Frassineti is a longtime supplier to Jil Sander, one of the flagship brands in OTB’s portfolio.
The acquisition is an initiative of Staff International, the company’s manufacturing arm, and is aimed at supporting OTB’s Italian supply chain. The Italian group, which performed well in 2022, will help the factory transition to a more sustainable business model, thanks to its technological know-how and expertise in eco-responsibility.
The Frassineti founding family will retain a minority stake and Gaia Frassineti will remain the brand’s CEO.
Preserving Made in Italy
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