Instagram star Ferragni sends another Italian stock soaring

[ROME] Shares in eyewear maker Safilo Group soared as much as 14 per cent on Monday after top fashion and Instagram "influencer" Chiara Ferragni signed a deal with the Italian company.

Safilo will design, manufacture and distribute the first line of Ferragni-branded glasses, which will go on sale in January 2022. The stock rose to its highest since September 2018.

This is the second time the 34-year-old blogger has had an effect on shares listed in Milan. When she was appointed to the board at footwear maker Tod's in April, the stock jumped too.

She started her career with the launch of fashion blog theblondesalad.com in 2009. She launched her personal brand, Chiara Ferragni Collection, in 2013, and has more than 24 million followers on Instagram.

She said in a statement: "Safilo represents not only excellence in eyewear but also, similarly to my brand, a great example of Italian spirit."

BLOOMBERG