BasicNet, the Turin, Italy-based parent of the Kappa, Robe di Kappa, K-Way, Superga, Briko Jesus Jeans, Sabelt, and Sebago brands, reported consolidated revenues in the first quarter were €98.3 million, down 3.3 percent from €101.6 million a year ago.

Royalties from commercial and productive licensees reached €16.1 million, up 23.9 percent year over year. Direct sales were €81.9 million, down 7.1 percent.

BasicNet said aggregate sales of its brands, including licensed revenues, increased 2.9 percent in the first quarter, to €268.8 million from €261.2 million a year ago. On an aggregate basis, commercial licensees and direct sales reached €203.2 million against €198.1 million in Q1 2024, representing a gain of 2.6 percent. Product licensees sales were €65.6 million against €63.1 million in Q1 2024, up 4.0 percent.

Commercial licensees and direct sales on an aggregate basis were up 4.6 percent in Europe.  Sales in other regions grew 3.3 percent in Asia and Oceania, 7.0 percent in the Middle East and Africa, while the Americas contracted 27.7 percent.

BasicNet and Permira on February 28 signed an agreement for Permira to take a 40 percent stake in K-Way S.p.A.. The transaction had a significant impact on consolidated shareholders’ equity and the consolidated net financial position, which increased by €169.9 million.

EBITDA, excluding the impact of the Permira deal, reached €12.7 million, a gain of 2.2 percent year over year. EBI totaled €7.5 million, down 7.5 percent year over year after amortization and depreciation of €2.5 million and depreciation of right-of-use for €2.6 million, increasing due to the new openings, as part of retail segment development;

Net financial position with banks, including the effects of the sale of the stake in K-Way S.p.A., is positive for €64.0 million (€-90.8 million at December 31, 2024), net financial position: positive for €7.2 million (€-142.0 million at December 31, 2024).

Regarding its outlook, BasicNet said, “In an evolving context, influenced by an unstable geopolitical and macroeconomic landscape, the Group continues to focus on medium to long-term growth with the goal of building brands’ value, through the development of the store network, alongside continued communication investment to support the brands.”

Image courtesy Sebago