Revenues and profits were both up for Italia Independent in 2014. The group controlled by Lapo Elkann and quoted on the AIM Italia stock exchange, closed the year with turnover of €32.9 million, an increase of 32 percent over the previous year. The gross operating profit (Ebitda) was up by 18.6 percent to €5.6 million, and net profit increased by 14 percent to €0.6 million.
These figures were largely driven by growth in the group's eyewear business, which generated 79.4 percent of its overall consolidated revenues in 2014, compared with 76.2 percent in 2013. The group's domestic eyewear revenues grew by 13.6 percent to €12.71 million, while France, Spain and Germany together grew by 81.5 percent, with 2014 revenues totaling €6.20 million
The group's total sales outside Italy grew to represent for the first time more than half of the total turnover of the company, with a share of 51.4 percent. The American subsidiary in Miami generated sales of €1.98 million, 81.1 prcent higher than in 2013. Exports to the rest of the world increased by 59.4 percent to €5.26 million.
The group showed a new prescription and sun eyewear collection at Mido called Eyeye, which will be distributed through exclusive agents. Produced in China with Korean technology, the collection is positioned as a rather creative high-tech line offered at affordable prices, starting at €80 a pair. It features polarized lenses and frames made of highly resistant and flexible plastic materials.
To develop sales in the Italian eyewear sector, where three-quarters of the population need vision correction, the company has signed an agreement with Kodak Lens, a brand belonging to Signet Armorlite, a member of the Essilor group. The “ Eyeye powered by Kodak Lens” program offers consumers a frame with prescription lenses, including RX sunglasses, from €98. Opticians selling Eyeye will send the prescription to Italia Independent, which will have the Kodak lenses glazed by a chain of ad hoc laboratories that will then send the finished glasses directly to the optician.
Italian Independent is now operating out of a new head office in Milan, located on Corso Venezia, featuring its second mono-brand store in the city in the courtyard.