BasicNet, the owner of Robe di Kappa, Superga, K-Way and other brands, closed the first half of 2019 with consolidated revenues up by 48.6 percent at current exchange rates, and up by 47.9 percent at constant exchange rates, to €137.8 million. Consolidated revenues were boosted by the addition of Sport Finance, the French-based licensee for the Kappa brand in France, U.K., Switzerland, Spain and Portugal (as reported in SGI Europe - Vol. 30 n°15,16 of 27/04/2019), acquired at the end of January and now renamed Kappa Europe.
Without Sport Finance, consolidated revenues grew by 15.2 percent as compared to the first half of 2018. Royalties and sourcing commissions increased by 4.5 percent at current exchange rates, and by 2.3 percent at constant exchange rates, to €26.8 million. Direct consolidated sales totaled €111 million, and were up by 65.4 percent, while excluding Kappa Europe's revenues, the growth was of 15.2 percent.
The group posted a net profit of €10.4 million for the first half of 2019, marking a 60.2 percent increase versus the net profit in the first half of 2018.
The revenue growth in the first half was generally driven by the Kappa brand, while Superga and K-Way also performed well. The re-launch of the Sebago brand was also in line with expectations. By geographic region, aggregate sales of the group's commercial licensees rose by 18 percent in Europe to €34.2 million, with Superga reporting strong growth in Italy, which is Basicnet's domestic market. In the Americas, the growth was of 54.8 percent to €14.0 million, with strong performances both for the Kappa brand, mainly on the North American market, and for the Superga brand across the American continent. Asia and Oceania reported growth of 11.6 percent to €5.3 million, with the Kappa brand contributing very strongly. Finally, the growth in the Middle East and Africa was of 46.2 percent, with sales reaching €11.4 million.
As of June 30, 2019, globally, there were 907 Kappa and Robe di Kappa mono-brand stores and shop-in-shops opened by licensees, of which 107 were in Italy. Superga mono-brand stores and shop-in-shops totaled 278, of which 57 were in Italy, along with 55 K-Way sales points, 30 of which were located in Italy.
BasicNet, headquartered in Turin and publicly quoted in Italy, has a portfolio of brands in leisurewear and sportswear, footwear and accessories, with registered trademarks including Kappa, Robe di Kappa, Jesus Jeans, K-Way, Superga, Sabelt, Briko and Sebago.