The rumours have finally been put to rest as Diesel makes its acquisition of Marni official, buying a majority stake in the Italian brand through its holding company, Only the Brave Srl.
Marni, headed by Consuelo and Gianni Castiglioni, was founded in 1994 and is based in Milan from where it rolls out a complete line of ready-to-wear collections for men, women and children, and accessories, to over 100 stores in Asia, Europe and the US. It joins labels including Maison Martin Margiela and Viktor&Rolf in becoming part of the OTB group, which only last year obtained the license to Just Cavalli and already produces and distributes collections for fellow brands DSquared2 and Vivienne Westwood’s Red and MAN labels.
Diesel chief Renzo Rosso commented on his latest venture, saying: “I am extremely happy [with] this new entry in the group. Marni represents exactly the concept of fashion I would love to see associated with OTB. A style that’s unique, recognisable, individual, fresh and modern. And an outlook that is always international. I have an incredible respect for Consuelo’s talent and I am sure that the association between her creative vision and the support and know-how of OTB will take Marni to new, incredible goals.”
According to WWD, this deal is thought to endorse Marni’s global expansion and comes after news that CEO Gianni Castiglioni was looking for an investor in October in a bid to “double sales in five years through a further development of retail.” He said: “I am satisfied of the agreement reached with OTB. This is an extraordinary opportunity of further development for our company, whilst preserving the brand’s identity and the entrepreneurial spirit of our family.”