International fashion group OTB has officially confirmed its acquisition of Jil Sander, following initial reports of interest in buying the brand earlier this year.
Jil Sander, established in 1968, will join Maison Margiela, Diesel, and Marni under the OTB (Only The Brave) Group, chaired and founded by Italian entrepreneur Renzo Rosso.
Dating back to 2019, CEO Ubaldo Minelli has come out and publicly stated that OTB has been evaluating the market for new brands to acquire, ones that line up with the company's strategic vision.
Although financial details of the new buy have not been disclosed, the previous owner, Onward Holdings purchased Jil Sander in 2008 for 167 million euros. Since 2017, Luke and Lucie Meier have been in charge of the creative direction for the brand, following Rodolfo Paglialunga's time with the company. It remains to be seen if the new ownership will see the brand maintain their current trajectory, or go down a path more aligned with the recent collaborations at Margiela.
Founder Jil Sander left her namesake fashion house for good in 2013 after previously parting ways numerous times, beginning in 2003, and has since been developing a new line with Uniqlo.