Group founder and majority shareholder Lapo Elkann will continue to be chairman of the board, and Andrea Tessitore was confirmed as chief executive officer.
“The listing project represents a key milestone for the development of our group, which is the result of a vast team effort,” said Elkann. “The AIM Italia listing process requires transparency and clarity as to the objectives that we set out to achieve. Personally, I will continue to focus on the creative development of the products and brand at an international level, which has always been my passion, to support the group’s management team led by Andrea Tessitore.”
Tessitore said there was pride in the approval of “the listing project after only six years in the business, which bears witness to a success story that is now looking to become international and that we intend to consolidate and expand through the listing.” The executive said that the company proved that “Italian creativity, know-how, as well as product and service focus, are winning combinations in an industrial project.”
Tessitore concluded saying that choosing to list Italia Independent nationally “is intended as a sign of trust and recognition for Italy and also a valid growth alternative for all small and medium-size companies in our country.”
Italia Independent is being assisted in the transaction by Equita SIM SpA, Banca IMI SpA, Methorios Capital SpA, law firm Pedersoli e Associati, Cesare Ferrero and Deloitte & Touche SpA.
The listing is expected to take place as early as next month. Elkann, an heir to Fiat’s Agnelli family, has been looking at developing the brand globally and to sustain growth.
Last year, the company reported sales of 15 million euros, or $19.2 million at average exchange, and it has plans to hit 30 million euros, or $39 million at current exchange, by 2015. Italia Independent, which offers men’s apparel, also counts collaborations with luxury Vertu phones; Borsalino; Smeg kitchen appliances, and Ferrari for a tailor-made service, among others.
Eyewear remains a key focus for Elkann, whose brand offers 200,000 customized variations of five models.
@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)
@heriethpaul and @gracebol have a moment on the @victoriassecret fashion show 2017. See every look from the runway on WWD.com. Link in bio. (📷: @giovanni_giannoni_photo) #wwdfashion #victoriassecret #VSFashionShow
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia