Italian sportswear group BasicNet posts double-digit growth in 2018
Italian sportswear group BasicNet, the owner of Kappa, Superga, K-Way and Sebago, closed the 2018 financial year with a consolidated revenue of €210.4 million, up 14.7% over the previous year (+15.2% at constant exchange rates).
The group's direct revenue was worth €155.6 million (+15%), while the remaining €54.8 million (+14.4%) consisted of revenue from royalties and from the group's business partners.
BasicNet’s EBITDA in 2018 was €33 million, up 43.2%, while net income leapt by 97.4%, reaching €21 million. BasicNet performed positively in all the regions where its labels are distributed, led by Europe with a 16.5% rise, and the American market with an increase of 13.1%. Revenue in the Middle East and Africa was up by 12.5%, while the Asian markets and Oceania posted a 12% increase.
In January, BasicNet, through its BasicItalia company, bought a 61% stake in French distribution company Sport Finance, Kappa’s former distributor in France, the UK and Spain. The new entity is led by President Alessandro Boglione, while day-to-day operations are managed by François-Xavier Chupin and Olivier Tanneau.
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