(ITA) Il piano di rilancio di Italia Independent

Italia Independent Group approved the 2019-2023 Development Plan of the company aimed at rationalizing the corporate structure through the implementation of a new business model, with the aim of increasing competitiveness and reducing costs.

The plan, which in the considered period estimates an increase in revenues up to 42 million Euros, foresees a reduction in overheads and operating savings of approximately 1.7 million Euros starting from the second year, with a return to positive EBITDA (+3.2 million Euros) and profit (+1 million Euros) starting from 2021.

The revenue growth estimate of the plan is based mainly on the development of new products and the launch of strategic partnerships, as well as on the opening of new markets abroad and new sales channels, as well as on adequate financial support from the company’s key shareholders.

Following the approval of the 2019-2023 Plan, the Board of Directors of Italia Independent resolved to ask the sole shareholder IIG to take the appropriate decisions in order to provide the subsidiary with the financial resources required to cover losses and to support the initiatives provided for in the 2019-2023 Plan. In this sense, the Board of Directors of IIG has given a mandate to its directors to act in the manner they deem most appropriate to find the financial resources necessary to implement the 2019-2023 Plan.

 On the basis of the commitments made informally by the main shareholders of the Company, the necessary economic resources are expected to be released in the coming weeks, in order to cover the losses of Italia Independent S.p.A. and to start the activities and initiatives provided for in the Plan, with particular attention to the area of product development and marketing.

 “The development plan approved today clearly indicates the direction we want to take to give new impetus to the company and the brand,” said Chief Executive Officer Marco Cordeddu. “Italia Independent has a strong growth potential, which we intend to exploit to achieve the ambitious goals we have set ourselves for the next 4 years.”

 “Today marks a fundamental step in the history and growth path of Italia Independent, which we intend to provide with all the resources and tools necessary to start the activities provided for in the Plan,” said President and Founder Lapo Elkann. “We are working with the utmost commitment to build the future of Italia Independent, and we are convinced that the company will be able to respond to the expectations of our shareholders and our customers”.