BasicNet purchases the historic USA brand of SebagoThe Italian company BasicNet purchased, for around 12 million euros through its subsidiary company TOS, the American historic footwear brand Sebago. Launched in 1946 and known around the world for its moccasins and boat shoes, Sebago was sold to the leading Wolverine World Wide group, which is quoted on the New York stock exchange.
With this acquisition, Sebago becomes part of the BasicNet portfolio, a leading reality on the Italian industrial panorama, which already owns various brands including Superga, K-Way, Robe di Kappa, Jesus, Sabelt and Briko.
“Sebago is an ideal brand for BasicNet – commented Marco Boglione, founder and President of BasicNet – because it is classic, athletic, iconic, and quite famous around the globe, representing a great opportunity for the global network of our commercial and industrial licensees”.
BasicNet, in fact, does not produce or distribute directly, but rather works exclusively through licensees, and it ended 2016 with earnings equal to 740 million euros, for a rise of 1.3%.