Italian fashion group OTB has acquired a majority stake in Frassineti, a Florence-based leather goods manufacturer.
Frassineti has been a long-term supplier of Jil Sander, one of OTB's star portfolio brands. This acquisition is part of a growing trend among luxury groups to invest in their supply chain and maintain valuable skills and ensure timely production.
OTB in a statement said it is committed to promoting Italian craftsmanship and excellence. Through their subsidiary, Staff International, OTB plans to optimise the excellence of the Made in Italy supply chain, safeguard it, and pass on the savoir-faire.
Gaia Frassineti will remain the Managing Director at Frassineti and OTB will support the factory in transitioning to a more sustainable business model, using its technological know-how and sustainability expertise.
Renzo Rosso, the Chairman and Founder of OTB Group, stated their luxury brands prioritise craftsmanship and high-quality raw materials, made possible through collaborations with companies like Frassineti. Rosso believes that investing in such companies and expertise is crucial for Italy's future.