Summary
- OTB Group, which owns Maison Margiela, Diesel, Jil Sander, Marni, and more, may increase prices by 8-9% for the group overall if new US tariffs take effect.
- OTB CEO Ubaldo Minelli said, “We are evaluating, brand by brand, possible actions to reduce the impact.”
On Monday, OTB Group expressed concerns about potential price hikes for its brands should Donald Trump’s disputed tariffs become a reality. The multinational corporation, which includes Maison Margiela, Diesel, Jil Sander, Marni, Amiri, and others among its holdings, is currently assessing how the increased tariffs might affect pricing across all its brands as a whole. (Source: Reuters)
At a press gathering about our company’s latest sustainability findings, OTB CEO Ubaldo Minelli stated, “We are examining potential actions, brand by brand, to lessen our overall impact.” He added later that simulations suggest we might need to raise prices by 8-9% across the entire group in order to even out the impact.
The team is now part of an expanding roster of fashion industry brands cautioning clients and shareholders about potential changes. Among the initial firms to announce price hikes are those anticipated to be most affected, predominantly companies heavily dependent on Chinese manufacturing, where Trump has implemented a 145% tariff increase.
In April, both Temu and Shein issued similar warnings to customers that prices would go up at the end of April because of recent adjustments in international trade regulations and tariffs. Now, even high-end brands are contemplating price increases to counteract rising costs. On April 17, Hermes officially announced their price increase, stating, “We will fully compensate for the effects of these new duties by raising our selling prices in the United States from May 1, across all product lines,” according to BoF.
Currently, On The Border (OTB) hasn’t revealed any specific plans about raising their prices or a timeline for this change. Keep checking TopMobs for any future announcements and advancements regarding the luxury sector.
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2025-05-05 22:26