BasicNet: strong growth for Superga and K-Way
BasicNet is reaping the awards of its international development. The Italian group is especially pushing its Superga and K-Way brand exports forward. Cumulative sales by BasicNet licensees in the first quarter of 2015 posted double-digit increases across all the main regions, benefiting from currency fluctuations.
In the Middle East and Africa, the increase was 31.8%; in the Americas, it was 37%; in Asia and Oceania it reached 22.6%; and in Europe growth was 12.6%.
Finally, the group has posted a 17.7% increase in product sales by licensees, reaching €260.6 million. At constant exchange rates, the growth is equal to 8.2%.
BasicNet remarks that Superga and K-Way sales jumped by 42.1% and 25.2% respectively. With openings in Great Britain, China and in South Africa, Superga has reached a total of 131 shops worldwide, of which 83 in Italy. The brand is present in approximately one hundred countries and has recently signed an agreement for Bulgaria.
K-Way has a network of 24 shops, 16 of which are located in Italy, and is distributed across 18 markets. The Kappa and Robe di Kappa brands increased their sales by 8.5% over the semester. They are present in 118 countries and have signed new agreements for Chile, Paraguay and Hungary.
BasicNet's turnover deriving from royalties and commissions amounted to €23.8 million, rising by 21.5% in comparison with the first semester of 2014. The group also pointed out that its BasicItalia subsidiary's sales have reached €63.9 million, with a 7% increase.
Finally, the group's EBITDA improved by 18.9%, reaching €17 million for the semester. Net income, at €9.1 million, rose by 51.1%.
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