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Italia Independent Heading for IPO

Lapo Elkann is taking his company public, confirming a WWD report in January, and this could take place as early as next month.

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LISTING AHEAD: Lapo Elkann, founder of Italia Independent, is taking his company public, confirming a WWD report in January, and this could take place as early as next month. According to sources, an Italia Independent board meeting scheduled today will vote on a listing on the AIM Alternative Market of Capital segment of the Milan Stock Exchange. The procedures to list on AIM, which targets small and medium-size firms, is much faster and more streamlined, according to a source. Elkann, an heir to Fiat’s Agnelli family, has been looking at developing the brand globally and sustain growth.

Last year, the company reported sales of 15 million euros, or $19.2 million at average exchange, and it has plans to hit 30 million euros, or $39 million at current exchange, by 2015. Italia Independent, which offers men’s apparel, also counts collaborations with luxury Vertu phones; Borsalino; Smeg kitchen appliances, and Ferrari for a tailor-made service, among others.

Eyewear remains a key focus for Elkann, whose brand offers 200,000 customized variations of five models.

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