Luxury fashion group OTB has acquired a majority stake in Italian footwear manufacturer Calzaturificio Stephen, a long-standing OTB supplier that has provided luxury footwear for the Group brands.

The acquisition is part of the OTB’s long-term strategy to acquire high-profile know-how and production capacity in product categories of “strategic importance for the development of the brands in the OTB portfolio” as it looks to support the Italian supply chain.

In a statement, OTB said its stake in Calzaturificio Stephen would ensure “greater stability and even faster and more solid growth” for the Vicenza-based footwear manufacturer, established in 1967 by Francesco Bertollo.

OTB will join as a shareholder alongside the family that founded the company, now represented by the second generation with siblings Stefano, Antonella and Valeria Bertollo, who will continue to run the business. Stefano Bertollo remains as chief executive officer of Calzaturificio Stephen, which has 70 employees.

OTB looks to strengthen supply chain with majority stake in footwear manufacturer

The group added that it will provide Calzaturificio Stephen with access to its resources to support the company’s further development and evolution in terms of technology, innovation and sustainability.

Renzo Rosso, chairman and founder of OTB, said: “OTB’s brands are known all over the world for the originality, creativity and craftsmanship of their products, thanks to the use of raw materials of the highest quality and the skills of our experts, masters of savoir-faire. Made in Italy became our trademark, thanks to a close collaboration with the companies in our incredible supply chain: a unique asset that makes us extremely competitive in international markets.

“This is why as a Group we invest in local players who have built the reputation of Italian fashion around the world, to guarantee their continued growth and increasingly sustainable development.”

The OTB portfolio includes Diesel, Jil Sander, Maison Margiela, Marni and Viktor & Rolf, as well as manufacturing companies Staff International and Brave Kid. It also holds a minority stake in the Amiri brand.