Italy’s OTB acquires Jil Sander model from Onward Holdings

Pic: Jilsander


Japanese retailer Onward Holdings lately introduced promoting its loss-making Jil Sander model to Italian luxurious conglomerate OTB. Onward didn’t disclose the sale value, citing confidentiality. Onward, which purchased the Jil Sander model for about $244 million in 2008, stated in a Tokyo Inventory Trade launch that the subsidiary recorded a lack of $21.22 million within the 12 months ending February 2020.

Onward, which relies upon closely on gross sales at Japanese department shops and has struggled with pandemic-related closures and weak client spending, stated it aimed to shore up its funds by exiting the Jil Sander enterprise, a worldwide newswire reported.

Jil Sander was established by the namesake German designer in 1968. The model was purchased by Prada in 1999 however offered once more in 2006. Sander has largely not been concerned with the label since 2004.

Fibre2Fashion Information Desk (DS)


Japan’s Onward Holdings has introduced promoting its loss-making Jil Sander model to Italian luxurious conglomerate OTB. Onward didn’t disclose the sale value. Onward, which purchased the Jil Sander model for about $244 million in 2008, stated in a Tokyo Inventory Trade launch that the subsidiary recorded a lack of $21.22 million within the 12 months ending February 2020.

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