Kappa Parent Bascinet Acquired 61% Stake In European Brand Dealer

A few days ago, BasicNet S.p.A, the sportswear manufacturer of Italy sports brand Kappa, announced the acquisition of a 61% stake in Sport Finance, a French sporting goods distributor. Sport Finance will merge with BasicNet S.p.A's affiliate BasicItalia to set up a new company Kappa Kappa, which is mainly responsible for brand development in Europe, logistics business, business negotiation, and the implementation of the brand development strategy of the head office, aiming to become the largest authorized dealer in the world.

Sport Finance has been a distribution partner of Kappa in the French market since 2005 and has gradually become a distributor of Kappa in the UK and Spain.

In 2018, the annual sales of Sport Finance exceeded 75 million euros, of which the annual sales of Kappa brand reached 66 million euros.

According to Marco Boglione, founder and President of BasicNet, the European market is one of the strongest growth potential in the medium term of Kappa, while the goal of Kappa is to double sales in five years.

After this cooperation, BasicNet will strengthen the trust relationship between the authorized parties and distributors, and invest more funds in sponsorship and publicity projects.

In January 2019, BasicNet S.p.A released the financial data in the first 9 months of 2018, and business in all regions performed well, with total sales rising by 11.1% to 633 million euros over the same period.

In addition, consolidated sales revenue grew 12.3% to 152 million euros, and direct sales increased 13.2% to 113 million euros over the same period last year.