OTB may be smaller than some of the other luxury groups, but its brands have a growing impact on the fashion landscape — from Maison Margiela, which is arguably at the height of its powers following John Galliano’s Artisanal show, to Marni, which met critical acclaim following its Spring/Summer 2024 show in September. OTB scion Stefano Rosso is chairman of Maison Margiela, CEO of Marni and CEO of BVX (Brave Virtual Xperience), OTB’s business unit dedicated to products for virtual worlds.
While cognisant of the luxury slowdown, Rosso is finding opportunities for OTB to boost market share, via global expansion and innovation. “It’s a moment of rationalisation [in luxury]” Rosso said, during a conversation as part of the Vogue Business Executive Summit. “If people are going to spend their money, they want to see and understand the value. After Covid, there was a huge run of price increases. For a certain time, it worked; I’ve seen bags jumping from €1,000 to €5,000. But it’s not that time anymore. The customers are tired of spending without a reason. They want to invest but perceive value… You can’t trick them into buying anymore because of a label.” At OTB, this value is linked to quality and supply chain transparency, a “huge point of attention” for the group.
