Diesel parent OTB posts 6.4 percent rise in 2019 turnover

OTB, the Italian fashion group’s turnover exceeded 1.5 billion euros, coming in at 1,530 million euros (1,741 million dollars), up 6.4 percent compared to 2018, and growing in all businesses, channels with retail growth of 9 percent, and regions. The company said in a statement that consolidated EBITDA reached 190 million euros (216 million dollars), while EBIT was positive at 18 million euros (20.4 million dollars). The company added that 2019 saw important investments such as the acquisition of a stake in Amiri, an increased stake in Viktor&Rolf from 51 percent to 70 percent, and the opening of over 70 single brand stores around the world.