As the liquidation of the assets of the former Reda Sports company continues, Basicnet S.p.A, the Italian firm that owns the Kappa and Robe di Kappa trademarks has found a new partner in the U.S. to carry on the Kappa name as a licensee. While Reda positioned the Kappa brand in team sports, predominantly Soccer, it looks as though the new keeper of the Kappa flame in the states will have more an urban approach to the brand.
Back to Back, LLC, which owns and markets the Fubu, Coogo and Drunknmunky urban brands, has inked a Master License Agreement with Basicnet to distribute Kappa and Robe di Kappa products in the U.S. The deal, which guarantees a minimum of $100 million though 2009, will run for an initial period of 5 years with options to renew for two additional periods of 5 years each.
A release Friday said the new deal will “provide a strong base for long term growth via a strategy of both consolidating the brands position in the core U.S. soccer market” while extending distribution of the to the broader lifestyle and sportswear channel. Distribution is expected to include the general sporting goods, athletic footwear, sport specialty and department store channels.
>>> To hit $100 million in five years wont happen focusing on Soccer. B2B must see this as a trend play as Euro sports brands like LaCoste, Diadora and Fila play well with the urban fashion consumer
>>> Are Lotto, Ellesse and Le Coq far behind???
