Italia Independent, the fashion and lifestyle brand founded by Lapo Elkann, announced the financial results for the fiscal year 2018, which saw a decrease in turnover of -12.2%, to 19.3 million euro, mainly due to the disposal of some non-strategic and non-performing assets.
“We have completed a difficult journey started over two years ago, which saw a profound restructuring and, at the same time, a relaunch of the brand on a more solid management and financial basis. In fact, the forthcoming entry of new shareholders with a capital increase marks this important step towards a more mature and efficient company “, stated Giovanni Carlino, CEO of Italia Independent (in the photo with Lapo Elkann).
Looking at the results, we see a diversified trend in terms of geography for eyewear, which grew by 41.1% in Italy, where it achieved a turnover of 12.2 million, and + 82.7% in Asia (1, 3 million euros), but down -62.9% in Europe (2.1 million euros), -45.1% in the Middle East and -88.5% in the rest of the world. Today the Italia Independent eyewear proposal is present in about 2,000 stores in Italy and over 1,700 abroad (mainly in France, Spain, Greece and Germany). In total, over the course of 2018, the Italia Independent brand was distributed in 79 countries.
The plan to relaunch the brand goes through diversified strategies: strengthening the product offer with the development of new collections (such as the Laps Collection), collaborations with international brands such as Hublot, Walt Disney, Billionaire Boys Club of singer Pharrell Williams , and the development of clothing capsule collections, aimed at increasing the presence of the brand in the fashion store channel.