Steven Madden's good work in the U.S. with the licensed Superga brand helped the latter's parent company, Basicnet, to book a 32.8 percent increase in the total wholesale-equivalent revenues of the group's licensees in the Americas. Basicnet also owns other brands including Kappa, Robe di Kappa and K-Way.
Basicnet has signed new licensing deals for Superga so far this year covering the territories of Croatia, Bosnia-Herzegovina, Macedonia, Montenegro, Serbia, Slovenia, Kosovo and Tunisia as well as for the United Arab Emirates, Saudi Arabia, Qatar, Oman, Kuwait and Bahrain. Superga has also extended a license in Cuba.
As reported more in detail in Sporting Goods Intelligence Europe, Basicnet's net earnings increased to €2,100,000 in the third quarter from €1,201,000 in the comparable period of 2012 in spite of a drop in consolidated direct sales of 6.8 percent to €28.6 million. The gross margin improved to 40.01 percent from 33.45 percent and the operating margin went up to 16.88 percent from 7.04 percent. The licensees' wholesale-equivalent sales increased by 1.03 percent to €115.5 million in the quarter.
For the first nine months of 2013, Basicnet reported a doubling in net profit to €4,414,000 and an increase of 82.8 percent in operating income to €11,138,000. Direct sales fell by 1.98 percent to €85.9 million, and the licensees' aggregated revenues declined by 0.64 percent to €324.8 million, but they were virtually flat in local currencies.