Increased investment in Viktor & Rolf brand
Another fashion conglomerate, Italy’s OTB, has upped (paywall) its stake in Viktor & Rolf. OTB first bought a 51 percent claim in the label in 2008 and now owns 70 percent of it (the remaining 30 percent is still held by brand founders Viktor Horsting and Rolf Snoeren). The amount of the transaction was not revealed. The deal comes as OTB’s jewel-in-the-crown brand, Diesel, is facing difficulties in the US and Europe.