Modo Eyewear has recently announced its acquisition of Italia Independent, an esteemed Italian eyewear brand founded by Lapo Elkann. This acquisition is a significant milestone for Modo Group, which already owns the Modo and Eco brands, and has over 30 years of experience in the eyewear industry. Alessandro Lanaro, the founder and CEO of Modo Group, expressed his admiration for Italia Independent and his excitement about taking charge of its future. Lanaro sees this acquisition as an opportunity to contribute significantly to the brand’s growth and reconnect with the vast community that Italia Independent has built over the years.

Modo Group is not your typical eyewear company; it possesses a cosmopolitan spirit that sets it apart. Established in 1990 in New York by Italian businessman Alessandro Lanaro, Modo Group initially focused on the US market. However, with the appointment of Giovanni Lo Faro as international CEO in 2005, Modo Eyewear expanded its presence globally. The company opened an office in Milan in 2008 and established a design and marketing studio in Stockholm. This strategic move allowed Modo Eyewear to tap into new markets beyond the United States.

The collaboration between Modo Group and Italia Independent will be immensely beneficial for the latter. By joining forces with Modo Group, Italia Independent will gain access to a well-established organizational structure and a successful retail presence worldwide. Modo Group’s brands are currently sold in 80 countries through a vast network of 20,000 retailers. Italy is one of its main European markets. While the USA remains the primary market, generating around 50% of the group’s revenue, Modo Group has consistently achieved double-digit growth over the years. In 2022, the company experienced single-digit growth due to external factors such as the Ukrainian invasion and widespread inflation.

Lapo Elkann, the founder of Italia Independent, expressed his delight in Modo Group acquiring the brand. He believes that Alessandro Lanaro and his team, with their successful track record, have the potential to transform the brand while preserving its connection to its founder. The first collections of Italia Independent under Modo Group’s ownership are set to launch in Spring/Summer 2024. These products will be manufactured in Italy and distributed through selected retailers worldwide.

In conclusion, the acquisition of Italia Independent by Modo Group opens a thrilling new chapter for the Italian eyewear brand. With Modo Group’s expertise and global reach, Italia Independent has the opportunity to further expand its presence in the industry and cultivate its loyal community of eyewear enthusiasts. The future looks promising for Italia Independent as it prepares to unveil its new collections under Modo Group’s ownership.

For more information about Modo Eyewear, visit their official website: https://www.modo.com.

To explore Italia Independent’s range of eyewear, please visit their official website: https://www.italiaindependent.com.