Sportswear brand K-Way targets retail expansion in Asia

“Our challenge? To successfully develop the brand while remaining true to its DNA and to the iconic nature of the products we make. We want to expand beyond Italy and France, our main markets, and make the brand known worldwide,” said Lorenzo Boglione, vice-president of sales at BasicNet Group.

He is the son of the company’s owner, who founded BasicNet in 1995 and floated it on the Milan Stock Exchange four years later. The group’s brand portfolio includes Kappa, Robe di Kappa, Jesus Jeans, Sabelt, Briko, Superga, Sebago and K-Way. The latter made a catwalk come-back by showing its latest collection at Milan Fashion Week Men.

“This is [K-Way’s] third runway show, and it was good to engage again with an important audience, we are delighted,” Boglione told the Adnkronos news agency. “The brand continues along a path of growth and success for which we are very happy."

Born in 1986, with a master's degree in management from ESCP Europe and a bachelor's degree in economics, in 2019 Boglione became member of the board of directors of BasicNet, a multinational that, over the years, has been able to revive companies and brands that had lost their lustre. Like K-Way, an iconic windbreaker brand that BasicNet bought in 2003. In just a few seasons, K-Way has turned into a cult name, even in the luxury segment, thanks to collaborations with labels like Fendi and Comme des Garçons. For K-Way, collaborations are “a constant, we work with designers and labels that want to intepret our signature products. The general principle is to allow different types of brands, not just high-end labels, to approach us and provide their own take on what we do,” said Boglione.

The most recent development for the brand is the deal between BasicNet and K-Way France, the company that operates the brand in France, through which the Italian group bought a 100% stake in K-Way France. But K-Way is also looking to the East. One of the brand’s main projects for 2022 is its market repositioning in Asia. “Over the past few months, we have realised there is a marked interest in [K-Way] on several Asian markets. In 2022, we will open in Japan, China, Korea and Hong Kong. There will be a plan for the brand to enter and expand in these markets, and we are very confident,” said Boglione.

As for the other brands owned by BasicNet, “all [of them] are continually opening new stores around the world,” said Boglione, “they are growing steadily and in a very structured way, at a global level,” he added. In February, the group's board will meet to approve the preliminary results for 2021, having recorded a growth of 10% over the first nine months of the year. “We have a long-term vision. In 2021, we recovered from the setbacks caused by 2020, a complex year for everyone. We certainly have ambitious plans for the years to come. Our goal is to expand vigorously,” said Boglione.

Are other acquisitions on the cards? “As we always say, we keep our eyes open. We have the means to carry out new acquisitions, but the right conditions must be met. If there are any opportunities, we will evaluate them with the same spirit as usual, we rule nothing out,” he concluded.