The First Six Months of Italia Independent 2018-09-27
Italia Independent’s sales for the first half of 2018 were down compared with the previous year, due to two factors:
- the sale of several assets that contributed to the consolidated revenue —namely the company Independent Ideas Srl, (a 26 per cent shareholding was sold to Publicis Groupe S.A. in April 2018, while the remaining shareholding of 25 per cent was sold to Laps To Go Holding Srl in May 2018), and the company Alialux Srl, (the sale of the entire shareholding of 70 per cent in May 2018), and
- the reduction of non-strategic operations whose costs exceeded the benefits generated. In particular, as previously described in the recovery plan and as demonstrated by the results for the first half of 2018, the company has refocused its resources to achieve a significant improvement in EBITDA despite the reduction in sales. This indicates that the restructuring plan was able to eliminate underperforming operations and focus resources on higher-value operations, while also generating efficiency and margin improvements.
The company is continuing to implement its business recovery plan, which consists of the following main initiatives:
- the strengthening of the product offering for the Italia Independent brand, with the development of new, highly-innovative collections (e.g. the “Laps Collection”);
- the improvement of product quality and customer service. In the coming months the company will launch major partnerships with international brands, such as Hublot (full license for both sunglasses and eyeglasses), Disney and Billionaire Boys Club that will give further visibility and momentum to the brand in foreign markets;
- there will be significant investments in communications, in support of the new marketing campaign;
- the company will develop clothing capsule collections to increase the brand’s appeal and distribution in the fashion stores channel.