MILAN — Italia Independent, the eyewear firm cofounded by Lapo Elkann and his brother John, has strengthened its management as part of a restructuring in the wake of financial troubles experienced last year. The goal is to relaunch the brand.
The company has tapped Giuseppe La Boria as global sales director, reporting to chief executive officer Giovanni Carlino. Tasked with boosting the company’s sales worldwide, La Boria is a market expert with 20 years of experience, having held several managing roles in eyewear firms Safilo and Luxottica.
In order to reinforce the brand’s exposure and expand its portfolio of partnerships, Italia Independent named Alberto Lapucci head of brand management, a position he previously held at both Marcolin and Kering Eyewear.
In addition, the company tapped Amandine Perrier, whose past experiences include stints at Alain Mikli, Etnia Barcelona and Kering Eyewear, as country manger of Italia Independent’s Spanish subsidiary.
“Italia Independent is strengthening its managerial structure with a view to being a strong company with a focus on innovation, a feature that has always distinguished us,” said Carlino, who joined the group in November 2016, succeeding Andrea Tessitore. “The reorganization and revitalization measures have been set in motion, and these appointments are proof of this.”
Italia Independent has been going through changes following a capital increase of 15 million euros, or $16.5 million at average exchange rates, subscribed last year by the Elkann brothers. The company has been cutting nonstrategic expenses, increasing its efficiency and bringing in new key figures in planning and production, as well as reviewing its distribution in markets showing more growth potential.
In the 12 months ended Dec. 31, 2016, Italia Independent posted a net loss of 12.2 million euros, or $13.4 million, compared with a profit of 475,000 euros, or $527,250, in 2015. Sales decreased 30.2 percent to 27.6 million euros, or $30.3 million, compared with revenues of 39.6 million euros, or $44 million, in the prior-year period.