Basic Net, the Italian company listed on Euronext Milan and active in the apparel, footwear and accessories sector for sports and leisure and owner of the Kappa, Robe di Kappa, Sebago, K-Way, Superga, Jesus Jeans and Briko brands, closed the first quarter of the fiscal year with consolidated sales of €108 million (compared to €84.6 million last year), up 27.7%.
Aggregate sales of the group's brands amounted to €293.5 million (+5.8% compared to €277.5 million in Q1 2022): €220.8 million from commercial licensees (+11%) and €72.7 million from manufacturing licensees.
Sales by the group's commercial licensees continued to grow strongly in Europe (+26.3%), a region that accounts for about 72% of aggregate sales, while they declined in the other regions (Americas -23.4%, Asia and Oceania -11.4%, Middle East and Africa -8.3%), due to "a decline partly linked to a context of economic instability and limited, moreover, to a few markets, which had recorded extraordinary growth performances in the previous period," the company explained.
EBITDA amounted to €14.8 million (€14 million as of 31 March 2022, +5.5%), while EBIT was €10.8 million, in line with the first three months of 2022.
Basic Net has recently implemented a series of projects that demonstrate how much the group believes in the importance of operating in Milan, a strategic city that can help its brands' success and awareness grow.
For footwear, there are specific corners dedicated to the Citysides line, which focuses on the iconic moccasin; the Campsides, inspired by the great American outdoors; the Docksides, which recalls its iconic nautical styles; and the more recent Outsides, more creative models.
Born as a rubber factory, which in the following decades became the site of other activities, and finally an architectural studio and event space, Basic Village Milano is developed in two factory buildings overlooking an internal courtyard. Like its older brother, a post-industrial village of 22,000 sq. meters in the center of Turin, it is characterised by a chimney placed in the courtyard, typical of industrial structures of the time.
In addition to housing a bar, a restaurant, and a number of independent showrooms, the Village is also home to a showroom of the Basic Net Group's main brands, as well as a number of residential spaces that include nine lofts ranging from 45 to 170 sq. meters, intended for short-term rental.