Italia Independent: 2015 revenue grows 20.4% to €39.6 million

By

Elena Passeri

Published
Mar 30, 2016

Italia Independent is continuing its growth phase with a consolidated net revenue in 2015 of €39.63 million, equivalent to a 20.4% rise over 2014, thanks chiefly to the eyewear sector, which generated 79.7% of total consolidated revenue (compared to 79.4% in 2014).

In 2015 foreign markets accounted for 46.7% of revenue (compared to 42.3% in 2014), while a strong increase in revenue was generated by the retail business unit (+57.0%, with €2.17 million in 2015 compared to €1.39 million in 2014), following the opening of new mono-brand stores and turnover growth in the existing ones.

Eyewear collections recorded a growth in revenue in Italy (+20.1%, with €15.27 million in 2015 compared to €12.71 million in 2014) and abroad, with a significant rise both in Spain (+69.6%, with €4.59 million in 2015 compared to €2.71 million in 2014) and the rest of the world (+31.5%, with €8.39 million in 2015 compared to €6.38 million in 2014, excluding America). Instead, both France and the US subsidiary posted a downturn, with total revenue amounting to €3.35 million (down from €4.34 million in 2014).

In terms of profitability, consolidated EBITDA rose by 41.1% reaching €5.12 million, compared to €3.62 million in 2014, equivalent to a 12.9% margin (up from the 11% margin recorded in the 2014 fiscal year), while net income rose by 7.3% to €475,000. The company founded by Andrea Tessitore and Lapo Elkann has on the other hand posted a declining EBIT, down from €1.32 million to €1.17 million, due to "the impact of the amortisation of costs which are chiefly linked to the opening of new stores and the group's new headquarters, as well as to the increase in various provisions," the group stated in a communiqué.

In 2015 Italia Independent was also very active in business development, featuring several collaborations, including a co-branding initiative with luxury watch brand Hublot, a partnership with Adidas Originals for an eyewear, shoes and accessories capsule collection, and a co-branding initiative with motorcycle brand Ducati.

In February 2016 the company also completed the acquisition of a 70% stake in Alialux LLC, one of Italia Independent's long-standing eyeglass suppliers. The objective is to encourage the group's vertical integration and increase its manufacturing chain know-how.