BasicItalia (BasicNet) aquires 61% of the Sport Finance group which becomes "Kappa Europe"

"Sport Finance is pleased to announce the agreement it has just concluded with the BasicNet Group, owner of the brands Kappa, Robe Di Kappa, K-Way, Superga, Sebago, Briko, through its licensee BasicItalia, that has acquired 61% of the French company Sport Finance capital," said the French company specialised in brand licensing on 28/01/2019. Sport Finance thus becomes Kappa Europe in order to "create a real European player for Kappa, capable of successfully meeting the high brand development goals in its key markets in Europe," added Sport Finance.

"Kappa Europe will help to respond in a better way to the concentration of distribution in Europe as well as to adapt to the newmodes of digital distribution. Kappa Europe will also give itself the means to bring a common product offering to the major European markets, structured by market and by consumers, endowed by the best resources in terms of design, marketing and commercial actions. In this context, the brand aims to double its turnover on its current European perimeter within the next 5 years," said Kappa Europe.

"It's an…