Moleskine proves the enduring value of writing in style

The new iPhone 7 has generated a frenzy among devotees of Apple products. Many eagerly waited in line overnight in front of Apple stores to get their hands on it. Expert commentators wildly speculated about the device’s new features.

Investors have been much less excited, though. Sales of iPhones, which account for more than half of Apple’s revenue, have fallen 25% over the last year. This year, Apple’s net income is set to decline 15%. As for the new iPhone 7, nearly three weeks after its release, it has achieved an adoption rate of only 2.1%. The iPhone 6 achieved an adoption rate of 4.9% within the same time.

By the sharpest of contrasts, the iPhone 7’s tepid reception is unfolding just as a private-equity investor is reaping a big return from an investment in an old-technology product — paper notebooks. Moleskine is a maker of designer notebooks and is listed in Italy. Its success proves that there is big money in a simple notebook despite the digital age.

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