Fashion
BasicNet acquires American brand Sundek
Published
December 4, 2025
BasicNet has made its second acquisition in the space of a month. After acquiring Woolrich, the Piedmont-based group, which also owns Sebago and K-Way, has brought another iconic American brand, Sundek, into its fold. In addition to the beachwear brand, the deal also involves 100% of Kickoff, the current holder and operator of Sundek, which is controlled by Winnie S.r.l.
The enterprise value of the Kickoff group — which also includes Kickoff USA Inc., Kickoff SL and Kickoff France SAS — has been set at €33.5 million. After deducting the financial position — including bank debt, tax liabilities and amounts owed to the shareholder — the initial consideration for the transaction comes to approximately €10 million.
Completion of the transaction, which is not subject to conditions precedent, is expected by the end of December; this amount may nevertheless be subject to standard adjustments based on the final calculation of the net financial position.
“The group’s expansion trajectory continues, and acquisitions are a strategic focus; we will now concentrate on integrating these two companies and relaunching these two extraordinary brands. We welcome another historic American brand, with seventy years of history, deeply rooted in the culture and customs (in every sense of the term) of the Italian market and beyond. It’s a brand that we’ve always appreciated, that we have personally used and that, like others in our group, is recognisable from afar,” say BasicNet co-CEOs Lorenzo Boglione and Alessandro Boglione.
The initial consideration will be paid in full through the transfer of treasury shares already in the portfolio, valued at the average market price over the last six months (i.e., around 1386 million shares, valued at €7.22 each).
The treasury shares delivered by BasicNet to the counterparty, as part of the initial consideration, will be subject to a 36-month lock-up period from the date of completion of the acquisition, with partial releases from the second year onwards.
In addition to the initial consideration, one or two earn-outs — each amounting to €5 million, up to a total of €10 million — may also be payable by BasicNet if revenue thresholds for the Sundek brand are exceeded in any of the financial years after 2025 and up to the year ending 31 December 2030.
BasicNet has not taken on any new debt to finance the acquisition, but confirms that it plans to refinance the Kickoff group’s existing medium- and long-term facilities.
The Kickoff group, which closed the 2024 financial year with sales of €27.6 million and EBITDA of €6.8 million, has 27 single-brand stores in Italy, including eight outlets, as well as seven single-brand stores in Spain, France and the United States.
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Burberry has unveiled its new Gabardine Capsule, celebrating 170 years of the British luxury house. The capsule honours the revolutionary fabric, Gabardine, invented in 1879 by Thomas Burberry, whose weather-resistant properties have defined the brand’s outerwear heritage for nearly 150 years. Worn by explorers and everyday adventurers alike, gabardine remains central to Burberry’s identity.
Burberry has launched its Gabardine Capsule to mark 170 years, celebrating its iconic weather-resistant fabric invented by Thomas Burberry in 1879.
The range reworks parkas, bombers and quilted jackets in brushed cotton nylon gabardine, alongside knitwear and jersey layering pieces.
A heritage label inspired by a 1993 campaign highlights the brand’s countryside roots.
Reimagining signature outerwear styles, the collection features parkas, down-filled jackets, quilted silhouettes, Harringtons and bombers crafted in brushed cotton nylon gabardine. These pieces are dyed in a capsule palette of hamper beige and juniper green.
Layering pieces include chunky ribbed wool-cashmere knitwear and soft cotton melange hoodies, jogging pants and T-shirts. Many styles are detailed with gabardine panels and trench-inspired elements, such as the brand’s signature epaulettes, Burberry said in a release.
Reflecting Burberry’s enduring connection to the countryside and outdoor pursuits, the capsule introduces a specially designed label inspired by an archival 1993 campaign reading: ‘Burberrys grew out of country life.’ The label appears stitched inside coats and jackets, appliqued on jersey styles and rendered as an intarsia motif on knitwear.
Fibre2Fashion News Desk (HU)
She was addressing the second edition of the Kwahu Business Forum in Mpraeso.
Ghana is collaborating with the private sector to set up three new garment units, generating 27,000 direct jobs under the 24 Hour Economy Policy.
The facilities will be located in the Central, Bono East and Eastern regions, with each factory expected to operate 24 hours to maximise productivity.
Each unit can employ 3,000 workers per shift.
Contracts have been secured to ensure demand-driven production.
She termed the decision as part of President John Dramani Mahama’s rapid industrialisation strategy to boost domestic manufacturing and create employment opportunities.
The facilities will be located in the Central, Bono East and Eastern regions, with each factory expected to operate 24 hours to maximise productivity. Each unit can employ 3,000 workers per shift.
Contracts have already been secured to ensure demand-driven production, Ofosu-Adjare was cited as saying by domestic media outlets.
The government is also finalising key policies for the garment and textiles sector, awaiting approval from the Minister of Finance.
Fibre2Fashion News Desk (DS)
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