Renzo Rosso on Luxury’s Crisis, Italian Creativity, and the Power of Youth
Bologna, March 13, 2026 – Renzo Rosso, president and founder of OTB Group, addressed a packed Bologna Business School, comprised of over 300 students from 66 countries, delivering a masterclass on entrepreneurship and the fashion industry. Dean Max Bergami and teacher Giulia Baschieri led the dialogue with the Italian businessman.
Rosso discussed the challenges facing the fashion world, the current crisis in the luxury sector, the importance of creativity for brands, and the potential of young talent. He shared lessons learned over two hours, outlining what he believes are the fundamental principles for entrepreneurs and creative directors. OTB Group CEO, Ubaldo Minelli, was similarly in attendance.
The Crisis in Luxury: A Shift in Values
Rosso acknowledged the current difficulties within the luxury market, describing it as a “fantastic and beautiful sector” but admitting “it is not a perfect moment.” He noted that while the industry has experienced significant growth in recent years, “the perception of the way of life has changed.”
He hypothesized that consumers today may prefer “one less Chanel bag” in favor of spending on “longevity or vacation.” Adapting to this shift, Rosso believes, requires “finding a different model for doing business,” anticipating that some companies will struggle while others thrive in the evolving landscape. He emphasized the need to adapt to changes brought about by technology, citing the internet, e-commerce, and tools like ChatGPT as examples.
Italian Creativity: A National Asset
Rosso highlighted Italy’s rich cultural heritage and creative output, stating that “we have a lot of creativity and many things were born here.” He emphasized Italy’s unique position as a global cultural hub, from food to architecture. However, he also expressed frustration with a lack of governmental support for the industry, noting that “we would also need help from those who govern us.” He pointed out that the fashion industry is the second-largest export sector in Italy, yet feels undervalued.
Despite this, Rosso praised the adaptability of Italian managers, who he believes excel at combining “creativity and survival” within companies.
Global Conflicts and Economic Impact
Addressing the impact of international conflicts, Rosso revealed that many OTB Group stores in the Middle East – including locations in the Emirates, Saudi Arabia, Lebanon, Israel, and Yemen – are currently closed due to ongoing instability. He anticipates that these conflicts will have a lasting impact on the economic landscape, adding to previous crises like Covid-19 and the September 11th attacks. However, he expressed confidence that Italian fashion would identify ways to persevere.
The Next Generation of Creative Directors
Rosso welcomed the changing of the guard in creative leadership at luxury brands, stating, “It is also right, fortunately, that there is this change.” He emphasized the importance of the creative director as the most influential role within a company, driving innovation and differentiation.
While embracing latest talent, Rosso stressed the need to preserve a brand’s core identity, warning that some fashion houses have lost their “DNA.” He described his approach to onboarding new creative directors, emphasizing the importance of understanding a brand’s history and values before introducing new visions.
From Humble Beginnings to Global Success
Rosso shared insights into his personal journey, recalling his early days making jeans in his home village of Brugine. He emphasized the importance of strong values, instilled in him by his upbringing. He recounted a pivotal moment when his father, after witnessing his success, advised him to “provide something back to others.” This philosophy is reflected in OTB’s commitment to social responsibility.
Social Responsibility as a Core Pillar
Rosso underscored the importance of social impact, stating that it is “the fourth pillar of our companies,” alongside creativity, technology, and sustainability. He believes companies have a responsibility to be socially useful, capable of achieving more than public institutions.