OTB – for Only The Brave – has a varied portfolio of brands ranging from "street" to high-end, including Maison Margiela, Marni and Paula Cademartori. Diesel, created over forty years ago by OTB founder Renzo Rosso, is the main one.
Massimo Piombini chaired Balmain for almost three years. He has previously worked with Valentino, Bally, Bulgari and Gucci.
He will replace Marco Agnolin at the head of Diesel.
OTB sales fell to 1.4 billion euros last year, driven by the poor performance of Diesel in Europe and North America.
(Claudia Cristoferi; French version Henri-Pierre André)
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