Nov 2, 2016
BasicNet's 9-month aggregate sales reach €556 million
Nov 2, 2016
BasicNet, owner of the Kappa, Robe di Kappa, K-Way and Superga labels, closed the first 9 months of the year with aggregate group sales of €556 million, down compared to the €570 million recorded in the same period of 2015.
"Sales results are denominated in local currency for several countries, among them Norway, Sweden, Turkey, Russia, Mexico, Argentina, South Korea and South Africa, and they were severely affected when converted into US dollars, the group's benchmark currency for non-euro transactions," stated the group.
In the period in question, BasicNet also began to filter its client base in Italy, to the point of giving up parts of its revenue, in order to achieve a more appropriate brand positioning. The group has also significantly increased investment in marketing communications and sponsorships, both in Italy and abroad, and has broadened its functional tech-wear range by distributing the Briko brand.
The Superga label grew 28.7% in the Americas owing to new licence agreements in Argentina, Chile, Colombia and Panama. In Europe it grew in Germany and Holland, while it slowed down in Turkey and Greece, owing to these countries' political instability. Overall sales for the K-Way brand grew by 4.4%, with positive performances on the Asian market (+25.5%) and in the Americas (+16.6%).
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