Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Silk Road Database
CLASS

BasicNet to reacquire the Kappa brand in Japan

August 05, 2020


Abstract : An operation is worth 13 million. Since 2008, the Chinese DongXiang has been owning the brand. The two companies are still collaborating.

MILAN, July 31 (Class Editori) - BasicNet reacquires the Kappa brand in Japan from the Chinese DongXiang. The rights for the utilization of the brand in the Japanese archipelago were transferred in 1994 by the new BasicNet company to Phenix, the Japanese licensee company, in order to finance the acquisition of the Knitwear and Shoe factory from Turin. In 2008, the Phenix group was acquired by DongXiang, owner of the Kappa brand for China and Macao since 2006.

The Japanese one is the key market in the sportswear field. In 2019 the sales of Kappa branded products in the area accounted for more than $30 million. With new licensee partners, BasicNet is aiming at giving an important boost to the brand development on the territory. The operation which will be closed in the following months has been managed through BasicTrademark, strongbox of the group brands, and it provides for an equivalent of $13 million.

“I suppose that the satisfaction for the Kappa brand re-purchase in Japan is really huge. With the entry into BasicNet system by the third global economy, the strategic project for the ‘little men’ brand has been globally accomplished”. The DongXiang group will autonomously manage the People’s Republic of China and the BasicNet in the rest of the world”, as Marco Boglione, President of BasicNet group, has explained.

“The transfer allows the group to better exploit its resources and focus on the brand Kappa development in the People’s Republic of China: a long-term development which the group and the shareholders as well are interested to. Therefore, we will go on, as always, to develop our business in China through a multibrand strategy, and to explore the market opportunities”, Chen Yihong, President and Executive Director of China Dongxiang, has added.

And he affirms “today, the reacquisition of Kappa Japan by BasicNet proves our strong and pleasant collaboration. In almost two decades of cooperation, I am glad we have always respected both our interests, by continuing to strengthen our collaboration. I would like to express my sincerest gratitude towards Marco Boglione. I hope we can further enhance what we have achieved in the past and we are enthusiast we can work together on new projects in order to make the century-old brand Kappa reach new goals”.

(Source:Class Editori)

Notice: No person, organization and/or company shall disseminate or broadcast the above article on Xinhua Silk Road website without prior permission by Xinhua Silk Road.


Scan the QR code and push it to your mobile phone

Keyword: Kappa

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial