OTB Group Strengthens Luxury Footwear Production with Calzaturificio Stephen Acquisition
OTB Group, a prominent fashion conglomerate, has bolstered its production capabilities with the acquisition of a majority stake in luxury footwear manufacturer Calzaturificio Stephen. This is the second such acquisition for OTB's Staff International, following the takeover of Frassineti earlier this year.
Calzaturificio Stephen, led by siblings Stefano, Antonella, and Valeria Bertollo, has been a strategic supplier for OTB Group for over two decades. The company, renowned for producing popular Tabi shoes for Maison Margiela, will continue to be headed by Stefano Bertollo post-acquisition. OTB will provide resources to support Calzaturificio Stephen's growth in technology, innovation, and sustainability.
The acquisition aligns with OTB's strategy to optimize its supply chain by investing in Italy-based companies. This move also underscores OTB's commitment to sustainability, as 71% of its suppliers are located in Italy, with 57% of its total supply chain consisting of companies near its main buildings. OTB Group's fiscal 2023 net sales reached 1.8 billion euros ($1.95 billion), marking a 9.1% year-over-year increase from 2022.
With this acquisition, OTB Group strengthens its position in the luxury footwear market, ensuring a reliable and sustainable supply chain. Calzaturificio Stephen, with its expertise in producing high-quality footwear, will continue to play a pivotal role in OTB's success. Meanwhile, OTB's commitment to investing in Italian companies and promoting sustainability remains unwavering.
