On March 26, Italia Independent, the group founded by Lapo Elkann and Andrea Tessitore (CEO), announced that in 2014 revenues rose to €32.9m (up 32.1 per cent YOY) from €24.9m of the previous year. This was due mainly to growth in the eyewear sector which accounted for 79.4 per cent of total consolidated revenue (76.2 per cent in 2013). Gross margin increased by 33 per cent to €22.9m from €17.2m in 2013, while EBIDTA grew to €5.6m (up 18.6 per cent). Overall, in 2014, Group’s net profit rose by 14 per cent.

 

In particular, the eyewear sector showed a significant increase in revenues in Italy (€12.7m, up 13,6 per cent YOY) and in major European markets, namely: France, Spain and Germany (total revenue in 2014 was €6.2m compare to €3.41m in 2013). In the rest of the world revenues increased by 59.4 per cent to €5,3m. In 2014, the US market also showed a strong  increase in revenues to €1.98m, up 81.1 per cent YOY.

 

Italian Independent at Silmo 2013 credits: Italian Independent)

Italian Independent at Silmo 2013 credits: Italian Independent)

The group operates also in the lifestyle products and communication through its agency Independent Idea. January 2015 saw the launch of a new eyeglass and sunglass range: EYEYE (registered trademark). This range is made using digital printing technology and it has a price tag of approximately €80. Recently, Italia Independent has struck two important partnership agreements: one is a three-year collaboration with Hublot, the luxury watch brand and the other is with Adidas Originals. The company is traded on Milan stock exchange (FTSE AIM Italia)

 

Andrea Tessitore, Italia Independent Group’s co-founder and CEO, said:

 

“2014 was a year of strong growth for the Group which improved its market positioning abroad and consolidated its presence in the domestic market while expanding and strengthening its organisational structure. We are very optimistic about the business in 2015. Indeed, the new projects that are underway will boost a business model which has already proved to be solid, scalable and extremely up-to-date especially when considering the constant changes within  the eyewear sector”.

massimo morici
Follow me

massimo morici

Massimo works as a financial journalist for the monthly newsmagazine ADVISOR, AdvisorOnline.it (asset management) and Panorama.it
massimo morici
Follow me