MILAN — Italia Independent is including one other license to its portfolio.
On Tuesday, the eyewear producer stated it had inked a three-year licensing settlement with Pacha Group, the Spanish holding firm that owns and manages the Pacha model.
Pacha Group operates within the music, leisure, leisure and hospitality sectors by means of its places in Ibiza, together with the enduring Pacha evening membership, Lío, Destino Pacha Resort and The Pacha Hotel. The group is understood to export the island’s way of life internationally and has branched out the Pacha model with merchandising starting from vogue gadgets to fragrances, all bearing its signature cherry brand.
“I’m excited about this venture with an international group like Pacha, which has a history of success spanning more than 50 years. In the 1960s and ‘70s, Pacha helped turn Ibiza — a magical and uncontaminated place with a perfect balance between the material and spiritual spheres — into a global fashion and trend icon,” stated Lapo Elkann, founder and inventive director of Italia Independent.
Elkann underscored that “Pacha’s independence, style, irreverence and foresight” are values shared with Italia Independent. “Speaking the same language, looking in the same direction, sharing values and ideals, albeit with different goals and histories, are the perfect starting point from which to offer the market innovative, iconic and successful products,” he added.
The first eyewear assortment will bear the logos of each firms and launch subsequent month at Pacha and Italia Independent shops in addition to on their respective e-commerce platforms.
“The synergy between Italia Independent and an international group of the caliber of Pacha — a landmark of entertainment in Europe and beyond — represents a further step forward for our company along the path of the 2020-2024 plan,” stated Italia Independent chief govt officer Marco Cordeddu.
Cordeddu stated the plan relies on chosen licenses, collaborations and sponsorships aimed toward enabling the corporate’s speedy progress internationally.
Pacha provides to Italia Independent’s portfolio, which already counts licensed manufacturers Hublot and CR7 — Cristiano Ronaldo, in addition to its personal namesake model and Laps Collection.
The eyewear firm is managed by Italia Independent Group, which since 2013 is listed on the AIM Alternative Investment Market of Capital phase, the Italian Stock Exchange’s program devoted to small and medium-size firms.
Investors appreciated the information, as shortly earlier than the top of buying and selling in Milan on Tuesday the group’s shares have been up 21.47 % to 1.98 euros following the announcement of the deal.
Last 12 months, Italia Independent Group registered whole gross sales of 11.3 million euros, up 46.1 % in comparison with 2019.