MILAN — Italian home fragrance diffuser maker Culti Milano debuted Monday on Aim Italia, the Italian Stock Exchange’s program dedicated to small and medium-size companies. Culti Milano is the first beauty firm to join the program.Founded in 1990 by interior designer Alessandro Agrati, who launched the brand’s signature glass flacons with wooden stick diffusers, the company is controlled by the Manes family-owned holding Intek Group since 2004.On Monday, both Culti Milano’s president Franco Spalla and chief executive officer Pierpaolo Manes rang the bell of the market opening ceremony at Palazzo Mezzanotte, which houses the Italian Stock Exchange.“Today is an important day for the longest start-up in the history, as Alessandro Agrati defined it,” said Manes during the ceremony. “The listing gives us new responsibilities: To be even more precise, punctual and determined in everything we will do from now on,” added the ceo, after thanking his team.As reported, Intek started procedures for the initial public offering last May. The operation enabled the company to increase its capital of 4.5 million euros, floating 27.96 percent of the firm. The admission to the program saw the listing of 865,000 new shares, valued at 5.2 euros each.Culti Milano’s price per share was 5.48 euros when the market opened and reached a peak of 5.85 euros 30 minutes after the opening. There were more than 100,000 trades within the first three hours.Culti Milano will use the resources of the listing to further develop its business through retail expansion, investment in traditional and digital and off-line advertising and exclusive, cobranded collections with international designers.“We needed to provide the company with financial resources to back this development and today we’re here. This is the beginning of a new journey,” said Spalla. “We have to thank all the investors who believed in this project and the Italian Stock Exchange, which provided incentives and collaboration, enabling us to arrive to this quotation in short time."Culti Milano’s president underscored that investors not only showed appreciation towards the products and the history of the label but also for the young management and its energy and dedication in enhancing the brand.Culti Milano is the ninth company to be listed this year in the Aim Italia program, which currently includes 81 companies.In 2016, Culti Milano totaled revenues of 4.9 million euros.The label currently counts two flagships in Milan and an online store. In addition, it is distributed in 40 department stores worldwide.
In honor the @CFDA’s announcement of @iamnaomicampbell receiving the Fashion Icon Award at the 2018 #CFDAAwards, which will take place on June 4, here’s a #tbt of the supermodel on @michaelkors’ runway in 1991. #wwdfashion #wwdarchive (📷: George Chinsee)
“I was making the guacamole when my scout saw me,” says model @stuckinteenage on being discovered just six months ago while working at @chipotlemexicangrill. Since then Williams has signed with @dnamodels, walked in her first show at @calvinklein and landed on the cover of @vogueitalia – a high point of any model’s career. To read @lisajlockwood’s full interview with the model on her experiences thus far, head to WWD.com – link in bio. (📷: George Chinsee)
“I love the idea of dialogue, period. It’s where I’ve always gotten my inspiration from: hearing other women speak, their journeys and their paths,” said @hereisgina, who delivered the keynote speech during @sxsw for @createcultivate in partnership with @fossil. For her two panels, Rodriguez chose female empowering, female-led and female entrepreneurs to focus on. Head to WWD.com to read more about her thoughts on Time’s Up, growing up in a family of women and why we “need a girls’ club.” #wwdeye #sxsw (📷: @jgreenery)
Leading luxury brand are shaking things up to keep up with streetwear. Case in point: the arrival of @mrkimjones as artistic director of @diorhomme. Jones, who succeeds @Kris_Van_Assche, is seen as one of the handful of designers who can actually straddle the luxury and streetwear worlds — which could lead to even more changes at established brands. What could this mean for the rest of the menswear landscape? Head to WWD.com to find out what experts predict #wwdfashion (📷: @franckmura)
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“It’s an interesting thing, playing a younger version of your mother. It’s an interesting concept. I adore my mom and love her in every capacity, but it was just something that had never crossed my mind,” says @anniemstarke on playing a young Joan Castleman in “The Wife.” The same role will be played by her mother Glenn Close. Read more about her growing up in the film industry as the daughter of producer John H. Starke and Close and what she has planned for the future #wwdeye (📷: @nataliamantini)
@asics is launching a new streetwear sneaker inspired by its latest ambassador, @steveaoki. The Hyper-Kenzen x Aoki, which will launch at @footlocker stores exclusively tomorrow, is a slip-on style that incorporates the brand’s proprietary Gel technology through beads integrated into the midsole for comfort and endurance. Read the full story on WWD.com.