Italia Independent maintained its high growth rate in the first half, posting a 42.5 percent increase in net sales to €18.52 million for the period. Its sales of eyewear rose at an even faster pace, generating 82.6 percent of the group's revenues against 79.7 percent in the first half of 2013. Most of the activity is principally at wholesale for the moment, as retail is still a very new side of the business.
The group's gross margin amounted to €12.47 million, up by 38.5 percent over the same period of last year, but it was down in relative terms, from 69.3 percent of the total turnover to 67.3 percent. This was due to a major increase in sales in areas served by distributors, resulting in lower margins than the sales made directly by the group. Operating earnings before amortization (Ebitda) remained stable at €3.33 million, equivalent to 18 percent.
Meanwhile, Italia Independent's first co-branding initiative with Adidas Originals will be on the market by Oct.15. It consists mainly of a new version of its ZX Flux sneaker that comes in six models with different features and colors. They all sport Adidas' Torsion technology, a heel cage and the company's double logo on the tongue. The line includes beanies, a biking-inspired rucksack and Adidas's classic airliner bags made with special materials.