MILAN — Italia Independent is adding another license to its portfolio.
On Tuesday, the eyewear manufacturer said it had inked a three-year licensing agreement with Pacha Group, the Spanish holding company that owns and manages the Pacha brand.
Pacha Group operates in the music, leisure, entertainment and hospitality sectors through its locations in Ibiza, including the iconic Pacha night club, Lío, Destino Pacha Resort and The Pacha Hotel. The group is known to export the island’s lifestyle internationally and has branched out the Pacha brand with merchandising ranging from fashion items to fragrances, all bearing its signature cherry logo.
“I’m excited about this venture with an international group like Pacha, which has a history of success spanning more than 50 years. In the 1960s and ‘70s, Pacha helped turn Ibiza — a magical and uncontaminated place with a perfect balance between the material and spiritual spheres — into a global fashion and trend icon,” said Lapo Elkann, founder and creative director of Italia Independent.
Elkann underscored that “Pacha’s independence, style, irreverence and foresight” are values shared with Italia Independent. “Speaking the same language, looking in the same direction, sharing values and ideals, albeit with different goals and histories, are the perfect starting point from which to offer the market innovative, iconic and successful products,” he added.
The first eyewear collection will bear the logos of both companies and launch next month at Pacha and Italia Independent stores as well as on their respective e-commerce platforms.
“The synergy between Italia Independent and an international group of the caliber of Pacha — a landmark of entertainment in Europe and beyond — represents a further step forward for our company along the path of the 2020-2024 plan,” said Italia Independent chief executive officer Marco Cordeddu.
Cordeddu said the plan is based on selected licenses, collaborations and sponsorships aimed at enabling the company’s rapid growth internationally.
The eyewear company is controlled by Italia Independent Group, which since 2013 is listed on the AIM Alternative Investment Market of Capital segment, the Italian Stock Exchange’s program dedicated to small and medium-size companies.
Investors liked the news, as shortly before the end of trading in Milan on Tuesday the group’s shares were up 21.47 percent to 1.98 euros following the announcement of the deal.
Last year, Italia Independent Group registered total sales of 11.3 million euros, up 46.1 percent compared to 2019.