Italian fashion group OTB has appointed its chief executive officer Ubaldo Minelli to the additional role of CEO of the Jil Sander brand, according to WWD.
It comes after the German luxury label was acquired by OTB from Japanese fashion group Onward Holding for an undisclosed sum back in March.
Minelli will be taking the reins from Axel Keller, who has been at the helm of the brand since October 2018 when he was promoted from the position of commercial director.
Jil Sander was founded in 1968 in Hamburg by its namesake designer who has since left the label.
The appointment of Minelli could be interpreted as a sign of confidence from OTB in the label, which since 2017 has been under the creative helm of husband and wife duo Luke and Lucie Meier.
In an earlier interview with WWD, OTB founder and chair Renzo Rosso said of the brand: “Day after day, I marvel at how beautiful, clean and sophisticated is this product, and I have a beautiful rapport with Luke and Lucie.
“I am involving them more and more actively in the company, and beyond the creativity, I want their opinion.”
Rosso also said he had plans to develop Jil Sander’s management structure and increase its focus on merchandising and technology as part of a digital push.
OTB group, which also owns brands Diesel, Margiela, and Viktor & Rolf, reported a 14 percent increase in consolidated turnover to 1,317 million euros and EBITDA of 176 million euros for the 2020 financial year.
Meanwhile, Jil Sander reported a loss of 21.2 million dollars in the year to February 2020, Reuters reported.