OTB Reports 2024 Sales Decline Amid Restructuring and Market Challenges

The luxury group faced a 3.1% sales drop, driven by wholesale losses and a slowdown in China, while focusing on retail expansion and leadership changes.

• OTB's 2024 sales fell 3.1% year-over-year to €1.7 billion, with EBITDA dropping to €276 million from €348 million in 2023.
• Direct-to-consumer sales grew 7.4% as OTB opened 61 new stores globally, while wholesale revenues declined by 15%.
• Japan and the U.S. were bright spots, with sales increasing 16.3% and 13.3%, respectively, despite a 5.7% decline in China sales.
• Maison Margiela and Diesel reported individual growth, up 4.6% and 3.2%, respectively, while other brands like Jil Sander and Marni faced challenges.
• Key leadership transitions included Glenn Martens taking over as Maison Margiela's creative director and Serge Brunschwig becoming CEO of Jil Sander.

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