Italia Independent launches into jewellery
Italia Independent diversifies into jewellery. In a press release, the Italian eyewear brand has announced a ten-year deal to launch a jewellery collection with Industrie Testi, a Tuscan company specialised in jewellery production and distribution, well-known chiefly for its own brand Rebecca.
The two companies explained that the collection will have a "strong personality" and will target both a men's and a women's audience, relying on technology and craftsmanship. It will be distributed from next December via Italia Independent's stores and e-commerce site, as well as through selected jewelleries in Italy and abroad.
The collection will be presented at the international jewellery trade show Vicenza Oro, in Vicenza, northern Italy, from 3rd to 7th September.
"The jewellery market gives Italia Independent a new, exciting opportunity to continue making its mark as a lifestyle brand, while still retaining eyewear as its core business," stated in the press release the brand's boss and co-founder Andrea Tessitore.
Italian Independent is a small, niche company launched in 2007 with Giovanni Accongiagioco and Andrea Tessitore by Lapo Elkann, nephew of Gianni Agnelli, and now listed on the Stock Exchange. The new business area ought to allow the company to strengthen its market presence, generating a new revenue stream at a time when results are showing a marked decline.
In the first six months of 2016 Italia Independent suffered a net loss of €2.6 million, while its revenue plunged by 34.5%, to €16.34 million. In early July, the company announced the intention of going ahead with a share capital increase of €15 million.
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