Renzo Rosso (Diesel): « On the hotel still in Cortina 60 million, in fashion today wins who is loved »

Renzo Rosso calls it soft opening, light openness. It is that of the hotel again, the large hotel that with its Red Circle has restored in Cortina. An estimated investment in about 60 million, of which about forty for the interiors. « It will open this month and on 11 my friends will be informal, I wanted to share with them the beauty of this structure – says the Veneto entrepreneur, founder and president of the OTB group, Only the Brave, only the courageous, who gathers the Diesel brands, Jil Sander, Maison Margiela, Marni, Victor & Rolf and Amiri -. They will tell me what goes and what is wrong, then reservations will come with word of mouth. It is a cool idea, there is the atmosphere of my world. You feel at home, nobody here asks you to take a selfie with you ». The reference is to VIP customers, but Behind the hotel there is still the new Italian fashion route: belonging, customer involvement beyond the shop and the product. Luxury is expanding to experience, daily life, At a time when the fashion industry saw several loss budgets. Rosso has two other hotels, the Chiltern Firehouse in London and the Pelican Hotel in Miami Beach. To « build a community that shares the same lifestyle, » he says, participates in projects as Diesel brand residences in Wynwood, always Miami (159 apartments), in Las Vegas (almost 200) and Saint Paul of Brazil (50): « branded condominiums »is called them. It is the concept of the contract also followed by Armani, customized furniture and design.

Instability and reactions

« For fashion it is time to invest in anything else, you have to create a mood – says red, and it means a mood consistent with the brand -. Today the brand needs to expand, contact its customers. The more you hug the lifestyle of people who love you the most you will have success. It is not so obvious to do business with this economic and political instability. Duties, wars, unpredictable situations brake industrial plans ». Customer involvement is called clienteleing, « patronage ». It is worth everywhere and the fashion industry is aiming for you.

Expansion in Mexico

Another investment of OTB is expansion in Mexico. «We plan to open at least 30 stores by 2030, between Diesel, Jil Sander, Margiela, Diesel and Marni – says Rosso -. The first in a month in Mexico City. Mexico has incredible potential ». A dedicated company was established, OTB Mexico. He belongs to the newly formed OTB North America region led by Matteo Lena, who has the headquarters in New York and also controls the United States and Canada. Points of sale with the partner Palacio De Hierro, a chain of luxury department stores will also be open. « I trust that Trump recreat to Mexico, » says Rosso, that the President of the United States is said to be disappointed Despite his American history: « I grew up with the Juke Box and the dream James Dean, I brought Levis’ 501 until 1985, until I left alone and after I only used diesel ».

The accounts and the cashier

With 89% of the Extra Italy turnover (35% of Europe, 25% Japan, 15% remaining Asia Pacifico, 14% USA) and now the goal of climbing Asia and also in the United States, the OTB group led by CEO Ubaldo Minelli has closed 2024 with revenues at 1.8 billion, down 4.4% from 2023, a gross operating margin of 276 million (from 348) 44 million (140). In parallel, however, The investments « remained in line with the previous years, » says the budget note, to 77 million and the net financial position was positive for 31 million. « We hope to close this year in line with 2024 – says Rosso -. But if the operational income has reduced more than ABITDA it is because we continued to invest as if the crisis on the market was not there: in two years 300 million, including real estate. Nonetheless we have a cash of over 30 million. We invest in technology, sustainability and in the supply chain because we believe in the future. We could afford it because we move alone, We have no debts and we are currently not listed ». It does not mean a no to the bag, however: «We are ready for Piazza Affari, when the market reopens. He can give us faster growth and encourage investments. But if you go, you go with a high floating. You don’t enter the bag for fake ».

Financial support for the supply chain

Another point of pride of red is the support, even financial, to the supply chain, throughout Italy. Started in 2013, the Cash project continues and counts today 54 suppliers involved for 610 million funding paid. « We have never done an aggressive prices on prices, in the same way we cultivate a good relationship with suppliers – says the entrepreneur -. Half of the added value comes from them, the other 50% from the style office. We are guaranteed to virtuous suppliers for subsidized rate credits With Bnp Paribas Factoring: so they were able to develop even in difficult times. The supply chain is fundamental, it should also be supported economically ».

The push on Jil Sander

Among the brands of OTB, Diesel and Margiela (creative director, since January, Glenn Martens) have gone well, so also Jil Sander for which it is time for the push. « It’s a diamond of mine – says Rosso -. We have invested a lot on the distribution chain ». And on the choice of the creative director. After the release of Lucie and Luke Meier, Simone Bellotti was selected in March. «I saw 17 creative directors and 11 projects arrived – says Rosso -. I chose Bellotti to build a brand that is distinguished by class, quality of materials and silhouettes, without the logo. We made up a level creative team, including Niccolò Pasqualetti ».

Stilists-stars, the Versace case

The spinning of the stylists-stars was, according to Rosso, one of the two errors of the fashion industry, with the surgery of prices. «The creative director is the most important figure with the CEO, it must be homogeneous to the brand. It should not only be chosen to fill a box and make the market happy ».
In this picture Rosso has « more acquisitions, with strong and complementary identities ». It regrets to not have conquered Versace, then acquired by Prada. « We made an offer in line with the others, being Capri Holding a public company we expected a competitive process that was not there». He also invests out of fashion: the Red Circle Investments, led by his wife Arianna, has 34 companies in portfolio, by Bending Spousons in Cortilia. They are industrial investments: « We bring our vision, » he says Red who has seven children of whom already in the company. Stefano is CEO of Marni, president of Maison Margiela, is in the Board of Otb, the Aura Blockchain Consortium and President of Vicenza; Andrea takes care of the sustainability of OTB; Alessia is Marketing Manager for Diesel North America. « We are working because my family carry out tradition, » says Rosso.