Since it was taken over, last year, by Renzo Rossi, owner of the Italian fashion group DIESEL, MARTIN MARGIELA has seen its sales increase by 10% defying the current international crisis. Its collections are presented in an impressive new showroom, Margiela Palace in the chic boheme Parisian quarter of Saint Maur.
This week, the founder and designer of the brand, Martin Margiela made an anticipated annoucement that he is stepping down and will no longer be involved in fashion. Margiela accepted to sign an agreement with Renzo Rossi in this respect, making sure that he will not be designing for another brand or he will not develop another brand.
Previous similar take overs when founding designers sold their companies and withdrew from the business did not always result in a successful businesses. One such example is KENZO, acquired by giant luxury group LVMH. Despite employing top talented designers, KENZO has never risen to the success of the days when its founder was at the helm of the creative direction. In the case of MARTIN MARGIELA, Renzo Rossi’s unique business sense is likely to be a guarantee for the long term success of the brand after the departure of its founding designer. In a recent interview to the Italian media, Renzo Rossi assured that the brand is only changing ownership and business strategy and not the creative direction which has made MARTIN MARGIELA a worlwide successful fashion brand.
Earlier this year, MARTIN MARGIELA launched its first fragrance and pursued its interior design projects with signing the design of a boutique hotel due to open in Paris late next year. Under Rossi’s direct supervision, the brand will continue to expand licensing in several different fields.