Italian eyewear and fashion manufacturer Italia Independent is to be listed on the Milan stock exchange this summer, company chairman and co-founder Lapo Elkann has told the Financial Times.
The company, which has six stores in Italy, was reported to have increased its revenues by a third in 2012 to €15.7m and doubled its operating profit to €2.9m in the same period. It sells in the Americas, Europe and Asia-Pacific through distributors and an ecommerce site.
‘This listing project represents a key milestone for the development of our group, which is the result of a vast team effort,’ Elkann told the FT. He added that he wanted to continue to focus on the creative side of the business and its international development.
Co-founder and chief executive Andrea Tessitore was reported to have said the pair wanted to ‘keep control’, suggesting less than a third would be sold.