MILAN — Italia Independent Group SpA will make its debut on the AIM Italia Alternative Capital Market, a segment of the Italian Stock Exchange for small and medium-size companies, on Friday. The company, controlled by Lapo Elkann, will list 27 percent of its total shares, priced at 26 euros ($33.65), with a market capitalization of 60 million euros, or $77.7 million at current exchange.
“This is not merely a starting point but a signal of serenity,” chief executive officer Andrea Tessitore, who founded the company with Elkann seven years ago, told WWD. “We have ambitious plans, and the path to the listing has been a very formative experience for our team. In structuring the company, we’ve all grown together, with an enormous effort,” explained the executive, adding he felt “proud and happy.”
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A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"