The frieze performance prowess in times of high depression. Three months after the disappointing debut of the manufacturer of Moleskine notebooks on the main market of Milan, Italia Independent, the company's high-end Lapo Elkann (grand son of Gianni Agnelli) glasses, 35, can boast of having successful debut on the AIM (Alternative Investment Market) Italia since June 28 After MC-Link Enertronica, Mondo TV France and Sacom is the fifth introduction in six months on the unregulated market of the Milan stock exchange mainly for SMEs. What reuse the tone in Italian secondary market (launched in January 2012 on the model of the London AIM), which shows a total market capitalization of € 760 million with 24 listed companies, against a total market capitalization of Borsa Italiana 391 billion (and 318 listed companies), 31 May 2013.
"The choice of AIM was necessary for us given the difficulties of SMEs to work with banks in Italy today, this was the best solution to preserve our independence, the heart of our philosophy," says Andrea Tessitore, Managing Director and co-founder of Italia Independent with Lapo Elkann. After seeing her jump over 16% in one day - compared to an initial quoted price of 26 euros per share - Italia Independent (16 million euros in turnover in 2012) reached in two sessions a capitalization of close to € 65 million, or more than 20 times its gross operating margin in 2012. Demand for securities exceeded more than three times the offering of securities that was subscribed to by 60% of Italian investors (and 40% from abroad). "For high-growth values like ours, it is more accurate to rely on our future prospects," shade Peligra Pietro, one of the four founders, in response to questions about the comparison with the world's number one Luxottica sector (13 8 times EBITDA in 2012). High visibility
With a range of innovative products - including frames "thermal" variable color - and an original marketing strategy, Italia Independent presents itself both as a designer of "lifestyle" products and a communications company. His marketing agency has agreements with Rinascente, Fiat, Gucci has ... Even if a factor of undeniable notoriety in the Peninsula, the grand-son of Gianni Agnelli (and younger brother of the current President of Fiat ), Lapo Elkann, can boast of having given his company a high profile in six years.
"Italia Independent is a young company that has become in a short time a symbol of Italian creativity in a mature and highly competitive industry," said the leader of Borsa Italiana, Raffaele Jerusalmi, who sees a signal of good omen for its recovery plan of SME financing (called Elite). The objective of the company Lapo Elkann is to follow in the wake of the success of the recent stock exchange quotations Ferragamo and Cucinelli, without excluding accelerated on the principal market on expiry of eighteen months pass.
Main expected operation: the manufacturer of "jackets" upscale Moncler (45% owned by Eurazeo) prepare a proposed listing by the end of the year.
Written by Pierre de Gasquet / Rome correspondent / pdegasquet@lesechos.fr
Website : www.italiaindependent.com/
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