OTB increases stake held in Viktor & Rolf
today Jul 25, 2019
After acquiring a minority interest last month in Californian label Amiri, Italian fashion group OTB continues to invest, increasing the stake it holds in Viktor & Rolf. The group led by Renzo Rosso, also the owner, among others, of Diesel, Maison Margiela and Marni, acquired a 51% stake in the Dutch label in 2008, and has now announced in a press release it has increased the stake to 70%.
The value of the transaction was not disclosed, nor the revenue generated by Viktor & Rolf. OTB increased its stake by buying shares from the label's founders and designers Viktor Horsting and Rolf Snoeren, who each keep a 15% share in the label. “We believed in Viktor & Rolf more than 10 years ago, and we believe in the label even more now,” said OTB President Renzo Rosso.
The operation is part and parcel of OTB’s strategy of boosting the growth of the labels featured in its brand portfolio. In 2018, OTB generated a revenue of €1.439 billion and boasts a robust net cash position, leading it to plan investments of up to €200 million within three years.
Viktor & Rolf was founded in 1993, and is renowned for its quirky, conceptual style. In 1998, it premièred on the haute couture scene. In 2000, the two designers launched a women’s ready-to-wear line which was discontinued in early 2015, to reposition Viktor & Rolf in the high-end market segment. They then concentrated on haute couture collections, showing in Paris, and on perfumes, which are “a very important side of the business.”
“They are a duo of fashion artists, working chiefly on exclusive special projects and capsule collections,” a source at the OTB group told FashionNetwork.com.
Viktor & Rolf introduced an evening gown collection and a bridal line, notably distributed in the USA, Europe, Russia, the Middle East and Asia, and a ready-to-wear collection called ‘Tulle’, “which paved the way for the label on the Asian market,” said Viktor & Rolf. The Dutch label also commercialises an eyewear line produced under licence by Ego Eyewear.
Among other special projects, the ‘RE:Cycle’ collection, created for e-tailer Zalando, and an underwear line launched together with French lingerie label Aubade, currently available at select stores.
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