John Richmond Eyewear with IT Holding Starting October?

Although no official sources have mentioned any names, the presence of Allison's CEO, Silvio Vecellio, at the Richmond show in Milan has fanned rumors from unofficial sources: the British stylist's partner for his debut in eyewear, due in October, could very well be the IT Holding company. Saverio Meschino, who holds 50% of the brand (35% is held by Richmond, and the remainder by a British partner) was a partner in IT Holding.

The other innovations programmed for the London brand include the opening of the third mono-brand store under direct control: after Milan and Bari, the stylist chose London and a wholly-owned, 350 m2 store due to be opened in June. Other innovations for this summer are the new home collection, a children's line and lingerie, followed by the arrival of a perfume at the end of the year.

'I discovered Richmond during one of my trips to London eighteen years ago' Mr Moschillo / Meschino explained, 'but it was only eight years ago that we decided take the same road'. The Italian became the British stylist's majority shareholder in '99, and for a year he has been directing the company which almost doubled its revenue in 2002.

'Last year we made a definite leap ahead, with billings of 28.4 million euros and profits of about 3 million euros. To achieve this result I worked on the product, optimizing the quality and bringing forward the showing and delivery of the collections. On this basis, we're aiming at doubling this year's results'.

The brand's billings are around 60 million euros, including its licensing business. Richmond is particularly successful in Italy (50% of the fashion house's market), followed by Great Britain (12%) and France (8%).