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The global fashion business journal

Jan 24, 20208:38pm

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Lapo Elkann redeems himself through Vestiaire Collective

Fiat’s heir and owner of Italia Independent will donate some of its personal belongings to support the Laps Foundation in its battle against the dependence of children towards the use of Internet, smartphones, videogames and social media.

Dec 13, 2019 — 9:00am
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Lapo Elkann redeems himself through Vestiaire Collective

 

Lapo Elkann leaves scandals behind and commits to a social cause. Agnelli’s heir, Fiat’s major shareholders, are collaborating with Vestiaire Collective for a special sale with the Laps Foundation, which aims to reduce the dependence of children towards the use of Internet, smartphones, videogames and social media.

 

The heir of the Agnelli Family created the Laps Foundation (Free Academy Experimental Projects) with a special sale of his personal belongings in collaboration with the online luxury resale platform Vestiaire Collective.

 

Elkann, owner of Italia Independent, appeared on all magazine covers in 2016 after faking his own kidnapping and asking his family to pay for 10,000 dollars for the rescue. The businessman was arrested once the police found out about the scam which left the company with great losses.

 

The company closed its last fiscal year with a revenue of 19.3 million euros (21.4 million dollars), while losses were of 6.08 million euros (6.76 million dollars).

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