Lapo Elkann : The Agnelli scion and his empire

In Italy, Lapo Elkann, 40, is well known as a scion of the Agnelli empire, a man-about-town who came close to self-destructing in spectacular fashion, but who has since gone on to build his own business empire, says Mick Brown in The Telegraph Luxury. There is Italia Independent his eyewear and accessories business. Independent Ideas his design and advertising agency, in which he sold a majority stake to France's Publicis Groupe. And his most recent project, Garage Italia a business customising cars, boats, helicopters; anything that moves.

Gianni Agnelli, Elkann's grandfather, was a towering figure in Italian life. His empire included a controlling stake in Fiat, Juventus FC and newspaper La Stampa. His was a hard act to follow. As a child, Elkann had a peripatetic upbringing. When his grandfather died in 2003, he joined Fiat, slapping the carmaker's distinctive logo on designer sweatshirts, handbags and wine, thus becoming the de facto face of Fiat, synonymous with life in the fast lane. And then he crashed.

In 2005, Elkann was rushed to hospital following a drugs overdose and he emerged from rehab a wiser man. He founded Italia Independent in 2007 and his first line of sunglasses, priced at €1,007, sold out. Elkann then drew on his experience of having created Ferrari's Tailor-Made programme of personalised cars and launched Garage Italia. American billionaire Ron Burkle reportedly paid $1.12m for one car. "Having created for Ferrari, I have noticed that in the luxury world they tend to give you limitations," says Elkann. "My world is limitless."

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