OTB acquires stake in Californian label Amiri
today Jun 4, 2019
OTB has invested in Amiri, the Californian label with the glamorous rock edge that everybody seems to be talking about. Renzo Rosso's fashion group has announced that it has acquired a minority stake in the luxury label founded by Mike Amiri in Los Angeles in 2014, but gave no further details about the operation. Through the transaction, "the Italian entrepreneur will take on the role of strategic partner, thanks to the wide experience and ample resources at his disposal," the company explained in a press release.
"OTB will support Amiri's development by making its global infrastructure available to the label in order to drive its continuous expansion and sustainable success," continues the release. Once again, it was a case of love at first sight for Diesel founder Rosso, whose OTB group (owner of Diesel, Maison Margiela, Marni Viktor & Rolf, Paula Cademartori, Staff International and Brave Kid) reports revenues of around 1.44 billion euros.
With its mix of rock attitude and luxury sportswear heavily weighted towards denim and jackets, all tinged with a singularly Californian spirit of cool, Amiri bears more than a passing resemblance to Rosso's style, and his affinity with the brand comes as no surprise. And that's before one takes into account that the label, which started out as a menswear brand before expanding into womenswear, has really taken off in the last four years.
Having studied law, Amiri (42) cut his teeth in the fashion industry making jeans. He went on to work for bands, for whom he created stage outfits, before launching his own namesake label in 2014, rapidly attracting the attention of a range of celebrities – from Beyoncé to Keith Richards – as well as that of some of the best boutiques in the world.
The brand consistently stands out for its high quality. All of its garments are manufactured in Los Angeles, although its leather pieces and shoes are made in Italy. Its best sellers include the python-skin perfecto, customised hand-painted leather and denim jackets, and the chained "Bandana Boots". The United States currently accounts for 40% of the company's total revenues, which are estimated to be between $50 and $60 million (45-54 million euros).
Ever on the rise, the brand's eponymous designer takes his inspiration from vintage fashion, hunting down rare pieces around the world, and has been nominated for this year's CFDA Fashion Awards' "Menswear Designer of the Year" category.
His label is currently available at more than 150 retailers, including American department stores, where it is sold alongside Givenchy, Balmain and Saint Laurent, and Paris' Galeries Lafayette Champs-Elysées, where it has recently been integrated into the fashion selection.
Amiri has held its runway shows in Paris since January 2018, a fact which has allowed the brand to boost its international visibility. Its next show, scheduled to take place in the French capital on 20th June, is already shaping up to be an unmissable event at the city's menswear Fashion Week.
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