TOKYO (Reuters) - Japanese apparel group Onward Holdings is selling its Jil Sander brand to OTB, the Italian luxury conglomerate that also owns labels such as Maison Margiela and Marni.
Onward, which depends heavily on sales at Japanese department stores and has struggled with pandemic-related store closures and weak consumer spending, said it aimed to shore up its finances by exiting the unprofitable Jil Sander business.
Reporting by Ritsuko Ando; Editing by David Goodman
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