BasicNet S.p.A., owner of the Kappa brand, and Turkish company LC International Watches Ltd have announced a ten-year (5+5) licensing deal to manufacture and distribute Kappa Watches for men and women on the International market.
The deal with LC International Watches Ltd., will be operational from 2014 and the first collection will premiere worldwide at the BaselWorld fair on March 27th, 2014. The partnership’s sales targets reach almost 50 million dollars for the first five years with a renewal option for another five years.
Thanks to the experience of LC Int., also having the worldwide license of Lee Cooper Watches, BasicNet aims at producing collections to develop the Kappa brand’s identity in the sports and leisure watches sector. LC (License Company) International Watches Ltd. was founded in Istanbul in 2012.
LC Int. has received the Lee Cooper’s global license for watches in 2012 and received the Kappa’s global license for watches at the beginning of 2014. All operations will be from Istanbul Headquarter office.
The Kappa® brand is owned by BasicNet S.p.A., also owner of K-Way®, Robe di Kappa®, Lanzera®, Superga®, Jesus® Jeans, AnziBesson® and Sabelt®, leading brands in sports and leisure wear, shoes and accessories. BasicNet operates worldwide through an international network of licensed entrepreneurs, who produce or distribute the Group’s branded products. BasicNet supplies its licensees with research and development, product industrialization and global marketing services. All company processes occur exclusivelly through Internet, making BasicNet a true “fully web-integrated company”. BasicNet, is based in Torino, Italy, and has been listed on the Italian Stock Exchange since 1999.
Source: LC Watches