Italian OTB aims for “significant” acquisition, still showing medium-term plan

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MILAN (Reuters) – OTB is aiming for a significant acquisition when the time comes, and a stock exchange listing remains a medium-term plan for the Italian fashion group, its chairman said in an interview published on Monday.

“We are in no rush. This time I would like to make a significant acquisition, and when the opportunity arises we will be able to seize it,” Renzo Rosso told Affari & Finanza-la Repubblica.

Rosso said OTB has yet to identify a brand to buy, but “we don’t want to aim for a lifestyle (brand) but rather high-end ready-to-wear.” He added that his family would retain the majority of the business he founded in a possible listing.

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