Shares in notebook maker Moleskine have risen following their market debut in Milan.
The company - known for its jotters based on originals used by Ernest Hemingway and Vincent Van Gogh - is the first to join the main Milan stock exchange this year.
Its shares were up by almost 3% in early trading, outperforming the market, which fell by 0.5%.
The company's chief executive, Arrigo Berni, said: "We are better than the average of luxury makers in terms of profitability."
He added that he expected to see "significant" growth in the coming years, as Moleskine develops apps to appeal to smartphone users and opens its first stores in China.
The flotation highlights the popularity of Italy's luxury brands - even though the country is struggling with a deep recession amid the ongoing eurozone crisis.
It is the fourth high-end Italian company to list in less than two years, following the initial public offerings (IPOs) of Prada, Salvatore Ferragamo and Cucinelli.
The last company to join the main Milan stock exchange was cashmere brand Brunello Cucinelli in April 2012.
Moleskine's origins date back to the late 19th and early 20th centuries, when French bookbinders supplied Paris' writers and artists with the now-iconic notebooks.
The brand was revived in 1997 with the name Moleskine - a nickname travel writer Bruce Chatwin gave to his small, black jotter in the 1980s.
The Milan-based company priced its shares at 2.30 euros (£1.95) each - near the middle of its proposed range - valuing the company at 488m euros (£414m).
It offered 106.3 million shares - including 12 million new ones - meaning just over 50% of the company's shares are now traded on the market.
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