Maison Margiela Owner OTB Has Acquired the Jil Sander Brand
International fashion group Only The Brave (OTB) announced that it has acquired 100 percent ownership of Jil Sander. The label joins the company's portfolio of brands that includes Diesel, Maison Margiela, Marni, and Viktor&Rolf.
Established in 1968, Jil Sander gained a following in the '80s through the '90s for its refined tailoring and minimalist aesthetic. Through the years, the brand's shares have garnered interest from the Prada Group and Japanese conglomerate Onward Holdings.
Financial terms for the deal were not disclosed.
"I have admired and respected Jil Sander since the fashion house was first established. Despite the changes of ownership and creative direction, the house has always stayed true to its founder’s vision, maintaining an absolute commitment to beauty, quality, and its signature minimalist approach. To be able to welcome this timeless jewel to our group of unique, unconventional labels is an honor and a long-term undertaking," OTB founder and president Renzo Ross said in a statement.
The deal is just the latest in a string of acquisitions in the luxury and fashion industry. Late last month, LVMH announced that it acquired 50 percent of Jay-Z's Champagne brand Armand de Brignac.