MILAN — Eyewear player House of Modo, the owner of Lapo Elkann’s Italia Independent eyewear brand, in addition to the Modo and Eco labels, has welcomed a minority investment to support its growth while remaining an independent player in the highly polarized eyewear sector.
A pool of investors led by the London-based Valiant Asset Management Ltd., an alternative credit investment firm focused on the Western European corporate middle market, has invested $100 million in Modo for an undisclosed minority stake.
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The leadership team — led by founder and global chief executive officer Alessandro Lanaro; Rebecca Giefer, CEO of the Americas, and Giovanni Lo Faro, CEO International — is to remain in place.
“This partnership brings us valuable resources to accelerate our growth, all while we remain fully independent in how we create, design and serve our customers,” Lanaro said. “At Modo, we have always believed that true success is built on a balance of innovation and integrity. With this minority investment, we are fast-tracking our ambitions, without ever compromising what makes Modo unique,” he said.
The executive established Modo in New York in 1990 operating the namesake brand. In 2009 the firm introduced the Eco label, anticipating consumers’ demand for sustainable eyewear.
The group acquired Elkann’s Italia Independent brand in 2023, in a transaction pegged at 1 million euros. The sale did not involve Italia Independent Group SpA, the publicly listed company that operated the eyewear firm until before the transaction.
Modo’s sales have surpassed 100 million euros in 2024. Its brands are currently distributed at about 20,000 wholesale doors in 80 countries. None of the eyewear players in its portfolio has retail stores.
“Modo has built its reputation on independence — creatively, operationally and culturally,” Giefer said. “This new chapter strengthens our ability to grow on our own terms, with the same entrepreneurial energy, grit and hustle that has defined us from Day One,” she said.
According to Lo Faro, the company has found in Valiant Asset Management Ltd. a partner “that would support us while preserving our DNA and strategy. We will continue on this path, more empowered and passionate than ever.”