Italian Independent first half revenues drop by 34,5%
In the first six months of 2016, luxury eyewear company Italia Independent suffered a net loss of €2.6 million, while its revenue plunged by 34.5%, to €16.34 million. In early July, the company announced the intention of going ahead with a share capital increase of €15 million.
Italian Independent is a niche company launched in 2007 with Giovanni Accongiagioco and Andrea Tessitore by Lapo Elkann, nephew of Gianni Agnelli, and now listed on the Stock Exchange.
Italia Independent has recently announced a ten-year deal to launch a jewellery collection with Industrie Testi, a Tuscan company specialised in jewellery production and distribution, well-known chiefly for its own brand Rebecca.
The new business area ought to allow the company to strengthen its market presence, generating a new revenue stream at a time when results are showing a marked decline.