OTB Group May Increase Prices by 8-9% if New US Tariffs Take Effect
The fashion world is bracing for potential price increases as OTB Group, the parent company of Maison Margiela, Diesel, Jil Sander, Marni, and more, considers raising prices by 8-9% across its brands if new US tariffs are implemented.
OTB CEO Ubaldo Minelli: “We Are Evaluating, Brand by Brand, Possible Actions to Reduce the Impact”
In a press conference discussing the brand’s new sustainability report, OTB CEO Ubaldo Minelli stated that the company is currently evaluating the impact of potential tariff increases and considering ways to mitigate the effects.
OTB Group Joins Growing List of Brands Warning Customers and Investors About Possible Price Increases
According to Reuters, OTB Group is just one of many fashion companies preparing for potential changes in the industry due to US President Donald Trump’s controversial tariffs. Other brands, such as Temu and Shein, have already announced price increases in response to the tariffs.
Luxury Brands, Including Hermes, Are Also Considering Price Hikes to Offset Increased Costs
Even high-end luxury brands are feeling the effects of potential tariff increases. In April, Hermes announced that they would be raising prices in the United States to offset the impact of the new duties. Other luxury brands may follow suit.
Stay Tuned to Hypebeasts for Updates and Developments in the Luxury Industry
As of now, OTB Group has not announced an official strategy for price increases or when they may take place. Keep an eye on Hypebeasts for the latest updates and developments in the luxury fashion world.
