Gianni and Consuelo Castiglioni with Diesel founder Renzo Rosso

Gianni and Consuelo Castiglioni with Diesel founder Renzo Rosso

Renzo Rosso, founder of the Diesel denim brand, has taken over Italian luxury fashion house Marni.

Rosso's holding company Only the Brave (OTB) will add Marni to its existing portfolio which includes Diesel, Maison Martin Margiela and Viktor & Rolf. OTB also licenses brands including Dsquared, Just Cavalli and Marc Jacobs Men. 

However, financial details of the acquisition were not disclosed.

"Marni represents exactly the concept of fashion I would love to see associated with OTB. A style that's unique, recognisable, individual, fresh and modern. An international outlook," Rosso said. 

While Gianni Castiglioni, co-head of Marni, added: "This is an extraordinary opportunity of further development for our company, whilst preserving the brand's identity and the entrepreneurial spirit of our family."

Founded in 1994 and based in Milan, Marni offers a complete line of ready-to-wear for men's and women's, accessories and kids, and has more than 100 stores in Asia, Europe and the United States.

Only the Brave reported group turnover of EUR1.38bn (US$1.82bn) in 2011.