OTB continues its international expansion in Asia. The Italian company headed by Renzo Rosso has inaugurated its new headquarters in Shanghai, located in the Lee Gardens building, in the heart of the Jing’an district, known as one of the city’s central areas for commerce. With a space of more than 510,000 square feet, doubling its previous headquarters, the opening was carried out as part of its international expansion, with which it also reached Latin America in June.
The new headquarters of the group, owner of brands such as Diesel, Jil Sander, Maison Margiela, Marni, Viktor&Rolf, is twice the size of the previous one, with around 54,000 square feet. The opening was attended by the company’s founder and president, Renzo Rosso.
The decision is in line with Only the Brave’s (OTB) global strategy, focused on strengthening direct control over its brands in the markets with the greatest potential. The company currently has 900 employees in the Chinese market, distributed throughout its network of almost a hundred stores in China, Hong Kong and Macau.
OTB has thus reinforced its commitment to the Chinese market, despite the continuous shocks that have dominated the country in the last year. In addition to the tariff war between China and the United States, which has raised the price of trade between the two markets, the Chinese economy has also been in the throes of a consumer crisis for more than a year, affecting the country’s economy.This has affected the largest luxury operators in the Asian market, such as Richemont, LVMH and Kering, which reported flat or declining results in 2024 in the Asia Pacific region.
OTB reduced its global turnover by 5% in the last fiscal year and suffered a drop in its ebitda of 20%
OTB held the opening of its new headquarters as part of the 20th anniversary of Diesel’s arrival in China, which was celebrated with the presentation of a capsule collection designed by the firm’s creative director since 2020, Glenn Martens.
After consolidating its presence in the United States and Canada, the group continued its expansion in Latin America in June, in the Mexican market, where it plans to open new points of sale in Guadalajara, Monterrey, Leon, Cancun, Puebla and Queretaro.
OTB, an acronym for Only The Brave, has an international network of more than 7,000 employees and a presence in more than 80 countries. Last year, the company reduced its global turnover by 5% to 1.7 billion euros. Gross operating profit (ebitda), meanwhile, stood at €275.8 million, down 20% on the previous year’s €347.6 million.
