BasicNet has signed a three-year license agreement with Electric Sekki to distribute the Superga footwear brand in China and Hong Kong. The partnership, which may be extended for an additional three years, aims to generate minimum wholesale revenues of US$14 million in the first three-year period and US$80 million in the second one.
Electric Sekki is undertaking marketing of the brand in high-profile shopping malls, in shoe shops, in leisure fashion stores and via e-commerce. The Chinese company is expected to create a network of mono-brand Superga stores. Some locations will be directly operated and others will be franchised. The agreement set a target of 30 company-run Superga stores by the end of the first three-year period and about 140 at the end of the second three-year period.
Created in Hong Kong in 2004, Electric Sekki specializes in the distribution of international brands in Asia. It has the Brazilian footwear brand Havaianas in its portfolio. Superga is a 100-year-old Italian brand known for its canvas sneakers.