Italy'S "Small White Shoes" Superga And Kappa Parent Company Total Sales In 2019 Exceeded 1 Billion Euros.

BasicNet S.p.A, a sportswear and sportswear manufacturer led by Marco Boglione, recorded a combined turnover of 305 million 700 thousand euros in 2019, an increase of 45.3% over the same period last year. The sharp increase in revenue was mainly due to the accession of Kappa Europe (former Sport Finance), which controls the business of Kappa brand in France, Britain, Switzerland, Spain and Portugal. In February 2019, BasicNet acquired the majority stake in Sport Finance through its subsidiary BasicItalia (see "ornate ambition" report: Kappa parent BasciNet acquired the controlling power of the brand European dealer Sport Finance, and consolidated and strengthened the European business).
In 2019, the total sales volume of Basicnet group's brands (including K-Way, Sebago, Superga and Briko) were 1 billion and 17.1%, respectively.
Chief executive Federico Trono said: "total sales of more than 1 billion euros, which confirms our business's firmness and sustainability, and proves the group's competitive edge in the global market."
From a regional perspective, the European market is still growing (an increase of 17.3% over the same period). In the past year, the Americas market has achieved remarkable growth (up 38.5% over the same period last year). The Middle East and Africa markets also showed strong signs of recovery (an increase of 35.9% over the same period), while the Asian and Oceania markets grew by 6.1% over the same year. The group's EBITDA (profit before depreciation and amortization) increased by 28.7% compared to the same period last year, reaching 42 million 500 thousand euros, while EBIT (pre tax profit) increased by 15%, up to 30 million 600 thousand euros.
The board of directors of Basicnet group will release its performance report in March 4th. At the February 14th meeting, the board studied the impact of the current epidemic crisis in China and said: "we are paying close attention to the situation of authorized manufacturers in China. The business model of Basicnet group takes into account the diversification of production in various regions. From the point of view of distribution, after the sale of Kappa brand China business, the share of the Chinese market in the group is very small. "