All Italia Independent articles
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ArticleModo begins turnaround of Italia Independent with presentation of spring/summer collection
Modo Group, owner of the Eco and Modo brands, is moving quickly to turn around its latest addition, the Italia Independent brand it acquired only on Sept. 12. Lapo Elkann, the former owner and co-founder of Italia Independent, has agreed to stay on as creative director, and the first collection ...
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Lapo Elkann to remain involved as Italia Indepedent creative director
Lapo Elkann, co-founder and formerly main shareholder of Italia Indepedent, is going to take on the role of creative director for the eponymous brand that was recently acquired by MODO GROUP. The first Italia Independent collection developed by Elkann in collaboration with Modo’s design teams is scheduled for Spring/Summer 2024. ...
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ArticleModo acquires Italia Independent brand
MODO GROUP, the Italo-American eyewear company behind the MODO and ECO brands, has announced that it was acquiring the Italia Independent brand from the eponymous company. According to a release by Italia Indepedent, the transaction was agreed for a total of €1 million. As reported a few months ago, the ...
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ArticleTwo retail groups top our Q2 stock price chart
Stock prices of eyewear industry companies confirmed in Q2 their upward trend started in the previous quarter. On a non-weighed average basis, they increased by 12.5 percent quarter-on-quarter overperforming the 6.3 percent rice of MSCI World, a global index comprising over 1,500 companies. EWI Stock price chart Q2 2023 ...
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Italia Independent Group restructuring approved by court
The Italia Independent Group (IIG) announced that its debt restructuring deal reached with creditors in mid-February has been approved by the court of Ivrea, Italy and extended to creditors who were not parties to the original accord. The debt restructuring agreement foresees that creditors to IIG, the holding company, will ...
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ArticleItalia Independent pushes back approval of 2022 results amid debt restructuring deal
The Italia Independent Group (IIG) said it is postponing the board-of-directors meeting called to approve 2022 results until May 29 from March 28, after recently reaching a debt restructuring deal with creditors. The Italian eyewear group said the postponement of the board meeting is necessary because the auditor still has ...
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ArticleEyewear stocks start 2023 on the right foot
Stock prices of eyewear companies were off to a good start of the year, with an average growth of 13 percent on a non-weighted basis in Q1 2023 compared with Q4 2022. It is the first time in more than a year that their average value significantly increased, overperforming the ...
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ArticleStrong stock price variations for eyewear companies in Q3
On a non-weighted average basis, stock prices of publicly listed companies in the eyewear sector went down by 1.3 percent in the quarter to September 30 in an apparent relative recovery from the 17 percent dive reported for the previous quarter. It compares slightly unfavorably with the global MSCI index, ...
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Italia Independent to lay off 29 employees
Italia Independent Group, the Italian maker and distributor of eyewear and sunglasses, has informed the trade unions that it will lay off 29 employees of its site in Venaria Reale, near Turin, where it has its headquarters and a warehouse. The decision is part of the restructuring plan that the ...
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ArticleEyewear companies stocks down by 17% in Q2
Contrary to other sectors such as energy, aerospace, defense or agriculture, which saw their stock value increase significantly in the last few months, the eyewear industry was not among the beneficiaries from the move of global money away from investments in Big Tech companies. Indeed, the 23 eyewear public companies ...
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ArticleItalia Independent plans cash call, restructuring after losses widen in 2021
The Italia Independent Group announced plans to seek fresh capital from shareholders and carry out a restructuring after losses in 2021 jumped to €24.0 million from €2.8 million the year earlier. Losses for the year came after €18.1 million in writedowns and provisions compared to €2.0 million in 2020. Italia ...
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ArticleEyewear industry stock prices down 13% in Q1
The first quarter of 2022 was the worst quarter for global equity markets since the first quarter of 2020 when the Covid-19 pandemic started spreading worldwide, leading to travel restrictions and lockdowns and prompting stock markets to collapse in March. Since the start of this year, the U.S. equity market ...
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Italia Independent pauses Russian distribution
The Italia Independent Group announced the immediate suspension of the distribution in Russia of its house brands Italia Independent and Laps and licensed brands Hublot and CR7 in a “sign of full and total solidarity with the Ukrainian people.” Just this January, Italia Independent signed an exclusive distribution agreement in ...
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Italia Independent hires a creative director
Italia Independent Group has hired Matteo Pontello as its creative director. Pontello will be working alongside another creative director – Lapo Elkann, who is also the group’s founder and president – and will be in charge of developing collections for both house brands and the two licensed brands Hublot Eyewear ...
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ArticleItalia Independent H1 sales jump, losses narrow
The Italia Independent Group saw sales in the first half ended June 30 jump by 272.4 percent compared to the year earlier to reach €9.1 million, as business rebounded and losses narrowed after the company took a hit from Covid-19 lockdowns and the loss of wholesale business due to the ...
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ArticleQ2 Stock price update: Essilux hits record high
We are giving here our quarterly update on the evolution of the stock price of 19 public companies operating in our core market, which grew by 9.4 percent on average between March 31 and June 30. 2021 - Q2 stock price chart The quarter was marked by the ...
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Italia Independent core eyewear sales up 18% in 2020
The Italia Independent Group delivered positive results for 2020, in line with the group´s turnaround plan that calls a return to net profit by 2023. In reported terms, total sales increased by 46.1 percent year-on-year to €11.3 million and the group’s EBITDA almost reached the break-even point. The 46 percent ...
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News briefsItalia Independent in licensing deal with Enea Bastianini
Italia Independent has entered a two-year licensing agreement with Enea Bastianini, a promising young Italian Grand Prix motorcycle racer. Bastianini won the 2020 Moto2 World Championship and has signed with Esponsorama Racing for the 2021 MotoGP season. The partnership with Bastianini will lead to the launch of a new line ...
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ArticleItalia Independent sees 2024 sales reaching €42 million
Italia Independent expects to post sales of €42 million in 2024 and return to a net profit in 2023. The new forecasts push back the group’s return to profit by a couple of years. In the business plan to 2024 approved by the board, the loss-making Italian eyewear company expects ...
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News briefsItalia Independent to proceed with €7.8 million capital increase
Italia Independent has decided to proceed with a previously announced €7.8 million capital increase. The board has authorized the Chief Executive, Marco Cordeddu, to launch the recapitalization towards which the shareholders Lapo Elkann and Creative Ventures have already made advance payments totalling €4 million and which are destined to ...
