Italian fashion group OTB aims to list in 2024 – Chairman

MILAN (Reuters) – Italian fashion group OTB, which expects its 2021 turnover to grow 21% compared with an year earlier, aims to list in 2024, its chairman and founder Renzo Rosso said on Friday.

OTB, which bought German label Jil Sander earlier this year, would like to make further acquisitions, but “beautiful things” are not up for sale at the moment, Rosso said.

OTB, which stands for Only The Brave and owns brands such as Diesel, Maison Margiela, Marni and Viktor&Rolf, targets a turnover of more than 1.5 billion euros ($1.72 billion) this year, with a core profit margin of 18.5% and a net financial position positive for more than 300 million euros, its chairman said.

($1 = 0.8746 euros)

(Reporting by Elisa Anzolin, editing by Maria Pia Quaglia)