Kappa looking to build on UK success following BasicNet takeover of Sport Finance
Following the news that BasicNet Group, owner of the Kappa, K-Way, Superga and Sebago brands through its licensee Basic Italia, has acquired 61% of one of Kappa’s European licensees, Sport Finance, the brand aims to double its turnover on its current European perimeter within the next five years, with the UK and Ireland being key markets.
Sport Finance will now be renamed Kappa Europe, bringing together a unified brand strategy and products for Kappa for the UK, Ireland, France, Switzerland, Spain and Portugal markets.
Mark Ward, now managing director of Kappa UK and Ireland, said: “The main reason we’ve created Kappa Europe, as opposed to the traditional licensee/licensor model, is to really adapt and align with the retail landscape for our future growth, and make sure we have a consistent brand message going forward.
As Kappa continues to grow apace in the sports fashion market, Ward continues: “It’s the next step in our development. We’ve seen accelerated growth over the past three years, in particular in 2018 where we saw double digit growth in the UK year on year. The objective is to grow the business again through 2019 and beyond.
“We’re currently working on an updated strategy for the next five years, and it’s a really exciting time for the brand. We’ve all seen the major revival of sportswear brands, and we’re currently dealing with everybody from Selfridges and ASOS to JD Sports and Foot Locker.”
Ward says there will also now be consistent marketing across Europe, where as previously each market did its own individual campaign.