Diesel is rebuilding its store network around Asia. The brand opened 16 new flagships in 2024, concentrated in Seoul, Hong Kong, Singapore, and Tokyo Shibuya, with Japan accounting for 27% of parent company OTB’s total revenue. The Italian denim brand was founded in 1978 by Renzo Rosso, who built it into the cornerstone of OTB Group, the holding that also owns Maison Margiela, Marni, Jil Sander, and Viktor & Rolf.
Diesel is one of two OTB brands growing while the group contracts. Sales rose 13% in 2023 and another 3% in 2024, against a -5% decline at the group level. Diesel had no creative director from 2017 to 2020, and its US subsidiary filed for Chapter 11 protection in 2019. Belgian designer Glenn Martens took the role in October 2020 and rebuilt the brand into a Gen-Z presence; that demographic accounts for 35% of the customer base. In January 2025, Martens added Maison Margiela to his role, leading creative direction at two of OTB’s flagship brands simultaneously.
OTB Group operates 608 monobrand stores across its portfolio, with direct retail generating 57% of group revenue and growing 7.4% in 2024. North America and Japan are the strongest markets: Japan generates 27% of revenue, while North America grew 13% in 2024. New direct-retail markets are opening: 15 store openings planned across Diesel, Margiela, and Marni in Mexico for 2025, plus a 25-year joint venture with Chalhoub Group covering 15 stores in the Middle East over five years. For mall operators, the implication is that Diesel is in active expansion mode focused on flagship and concept formats, not mass distribution.
