Following reports, international fashion group OTB has confirmed to WWD its interest in buying Jil Sander. The publication initially revealed last month that OTB had been in exclusive talks with the current owner of the Jil Sander brand, Onward Holdings Co. Ltd., regarding a possible acquisition.
“It is true that we are evaluating different opportunities and companies currently on the market,” OTB said in a statement to WWD. “We want to increase our critical mass and we want to do it in a modern and sustainable way, firstly supporting and strengthening the pipeline, and in general the Made in Italy [initiative], as we did all throughout this pandemic, consistently with the strategic vision of the group and of our entrepreneur.”
OTB’s current roster of brands includes Maison Margiela, Diesel, and Marni, among others, as the apparel conglomerate also owns a minority stake in Amiri. Dating back to 2019, CEO Ubaldo Minelli has come out and publicly stated that OTB has been evaluating the market for new brands to acquire, ones that line up with the company’s strategic vision.
Onward Holdings purchased Jil Sander in 2008 for 167 million euros. Since 2017, Luke and Lucie Meier have been in charge of the creative direction for the brand, following Rodolfo Paglialunga’s time with the company. Founder Jil Sander left her namesake fashion house for good in 2013 after previously parting ways numerous times, beginning in 2003.
WWD did not reveal a timeframe for OTB’s potential acquisition of Jil Sander, but be sure to check back with us as we will bring you any updates as they become available.