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.
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion (📷: Dominique Maître)
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)
Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
@louisvuitton tapped @therealpeterlindbergh for its latest city-centric photo book, which is part of a series called Fashion Eye. The primarily black and white book captures the spirit of Berlin in 57 images shot between 1989 and 2019. “Berlin is an inspiration for me, more than a city. I mean @millajovovich is simply Berlin!” said Lindbergh. #wwdfashion
“You know, I think audiences expect a certain performance so I have to deliver to them what they’re expecting to a certain degree. But I’m also a different actor and a different person, I have my own spin on the character,” says @noahegalvin of his takeover of the leading role in “Dear Evan Hansen” following the departure of @bensplatt, who originated the role. Read WWD’s interview with the 23-year-old actor on WWD.com #wwdeye (📷: @jilliansollazzo)
For pre-fall 2018, @etro created richly-colored wonderland, using tapestries, textiles and wallpapers from the Eastern world at large. The line featured floral and graphic prints and jacquard motifs, like this two-piece look featured here. #wwdfashion (📷: Giovanna Pavesi)
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)