The Italian fashion company OTB SpA intends to work with Dubai-based retailer Chalhoub Group to expand faster in the Middle East.
The announcement was made by both businesses that they had decided to establish a joint venture in order to “significantly expand” the OTB luxury brands Marni, Maison Margiela, and Jil Sander’s market share in the area. Additionally, the firm owns labels like Viktor & Rolf and Diesel.
According to a release, around 15 new stores are expected to open in the Middle East as part of the agreement over the next five years. “Key markets” including Saudi Arabia, Kuwait, Qatar, and the United Arab Emirates are the main focus.
There is already a Martin Margiela store in Dubai, which serves as OTB’s regional presence. Products under the group’s labels can also be found in a few department shops and concept stores.
OTB’s chairman and founder, Renzo Rosso, commended the “strategic agreement” with the Chalhoub Group. According to Rosso, the trading organisation has “long and extensive knowledge of the Middle East” and is “the leading partner for luxury goods.”
Through the partnership, OTB will be able to showcase its brands in “one of the most interesting markets in the world today” and further its growth.
