Italian fashion group OTB is planning to invest 200 million euros ($226 million) over the next three years, potentially in acquiring other brands, after boosting its financial strength in 2018, it said on Monday.
On Monday, the French group (owner of Caroll and La Halle) announced the appointment of the former Brice boss to work alongside new president Patrick Puy, who led the group's comprehensive restructuring effort.
OTB, the holding company of Italian fashion billionaire Renzo Rosso, quadrupled its Earnings Before Interest and Tax (EBIT) to €21.5 million in 2017. Though total group revenue slid 2.4 percent over the same 12 months.
Diesel's premium label, headed by Andreas Melbostad, expanded its horizons at Milan Fashion Week Men with a collection displaying multi-ethnic inspirations gleaned from the brand's intercontinental travels.
Private-equity backed French clothing retailer Vivarte, which is aiming to restructure more than 1.3 billion euros (1.08 billion pounds) of debt, has agreed to sell its Pataugas shoe brand to Hopps Group.