OTB set to boost China presence with four new stores
Italian fashion group OTB will be boosting its presence in China by opening four major new stores in Shanghai. In March 2022, Maison Margiela, Jil Sander, Marni and Amiri will open stores in the city’s JC Plaza shopping mall, located on Nanjing Road, a major commercial thoroughfare lined with two-storey shops. The goal for the group owned by Renzo Rosso is to double the number of monobrand stores it operates in China in the next three years.
The planned Shanghai store would notably be the first address in China for high-end Californian denim label Amiri, in which OTB holds a minority stake. For Jil Sander, it would be the first store opened in Shanghai. The German label, which was bought by OTB in March and has 34 monobrand stores worldwide, is also planning to open a New York flagship next year.
OTB currently operates 80 stores in 16 Chinese cities. The four new addresses will combine traditional and interactive retail space, offering customers the chance to enjoy “an immersive experience,” as the group stated in a press release.
OTB has recently opened official accounts on China’s leading social media platforms, like WeChat and Weibo. OTB labels Diesel, Maison Margiela and Marni have successfully deployed promotional programmes on WeChat and Tmall, the e-tailer owned by the Alibaba group, recording sales increases in excess of 140%, as indicated by OTB, which stated that its “online business is growing significantly.”
For 2021, OTB is forecasting a revenue of €1.5 billion, and is chiefly relying on the relaunch of its best-selling denim label, Diesel, having put inventive Belgian designer Glenn Martens in charge of style a year ago. The group is investing heavily in Diesel, for which it has deployed multiple initiatives this year. Marni too has grown significantly in 2021, driven by the accessories category, which accounts for 70% if its total sales.
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