BasicNet renews license agreement with Athleisure Resources
29 May '06
3 min read
Sportswear company BasicNet SpA has renewed the licensing agreement with Athleisure Resources Pte Ltd - Singaporean company active in the sports and leisurewear sector - for a further five years to market Kappa and Robe di Kappa brand products on the South East Asian market.
The new agreement includes, apart from the renewal of the licence contract for Malaysia, Indonesia and Singapore, the debut of Kappa and Robe di Kappa brand collections on the Vietnamese market as well.
The agreement singed with Athleisure Resources Pte Ltd includes guaranteed minimum sales of Kappa and Robe di Kappa branded clothing and accessories in Malaysia, Vietnam, Indonesia and Singapore of over $14 million.
Athleisure Resources Pte Ltd contributes to the development of BasicNet brands by bringing to the Kappa project not just its multi-year experience in the footwear and apparel n, but also by reinforcing the current retail distribution network with the opening of new Kappa brand sales points, to be added to the 9 already present in the area.
The BasicNet and Athleisure Resources Pte Ltd partnership is an important part of the general plan for the growth and promotion of Kappa and Robe di Kappa brands in Asian markets.
In March 2006, the BasicNet Group signed a binding agreement with Diamond King International Ltd (DongXiang Sports Development Co Ltd Group) for the sale of Kappa and Robe di Kappa property rights for China, an operation finalized based on a sales value of $35 million.
marketing@alchempro.com
