MILAN — The Italian BasicNet, parent to K-Way, Superga and Sebago, among other fashion companies, has set in motion its succession plan — and it’s all in the family.
The publicly listed company said Thursday that Alessandro and Lorenzo Boglione, sons of BasicNet founder and president Marco Boglione, have been appointed co-chief executive officers of the group.
They succeed Federico Trono, who has held the title since 2019. He is to take on the role of CEO of BasicNet-owned Kappa.
“Today marks the very successful conclusion of Federico Trono’s two terms as CEO. His contribution has been crucial to the development and growth of our group, as well as strategic in ensuring a solid operational transition to the two new CEOs,” Marco Boglione said in a statement. “We extend our heartfelt thanks to Federico Trono, certain that he will continue to make valuable contributions through the strategic positions he will continue to hold within the group,” he said.
Speaking to WWD about the appointment, Lorenzo Boglione said: “We are giving ourself a mandate, because we are ultimately the expression of the company’s majority shareholder [the Boglione family with 37.42 percent of shares] and our goal is to keep on the growth trajectory that it has pursued so far.”
“It’s by definition a huge responsibility,” echoed Alessandro Boglione. “But not unlike the past six years, flanking the former CEO. The role is slightly changing but the responsibility is the same, the industrial plan is in strong continuity,” he said.
Lorenzo and Alessandro Boglione first joined BasicNet in 2010 and 2012, respectively, both as interns. They rose through different roles of increased managerial responsibility until they were appointed BasicNet vice presidents in 2022.
“Our mandate is to bring forward the vision that has shaped the company so far, trying to make it contemporary and applicable to today’s business and market,” Lorenzo Boglione said. “Everything the company stands for today is the result of our father’s work. We will remain a brand management platform… despite the complexity ahead which will trigger the company to shift its model and organization,” he added.
BasicNet was founded by Marco Boglione, who conceived the group in 1994 as a marketplace and publicly listed it on the Milan Stock Exchange in 1999. BasicNet owns the Superga, Robe di Kappa, Kappa, Sebago, Jesus Jeans, K-Way, Sabelt and Briko brands.
K-Way, fall 2025
Isidore Montag/ Courtesy of K-Wa
Stemming from the storied traditional clothing company Maglificio Calzificio Torinese, which was founded in 1916, BasicNet doesn’t produce or distribute the collections of its brands. Billing itself as a “fully web-integrated company” through a digitally advanced platform, it acts as a marketplace where manufacturers and distributors meet to do business.
In particular, BasicNet, headquartered in Turin, designs and develops its labels’ collections, signs licensing agreements with international producers and distributors, which receive from BasicNet all they need to manufacture and sell the products, from research and development to global marketing.
“We believe we have already proven internally and externally we have implemented some of the company’s values… including preserving the management of and relationship with human resources, which have defined the company’s history and our presence here, in increasing managerial roles, for the past 10-plus years,” Alessandro Boglione said.
“In addition to external challenges that we’ve become used to face with little notice,” he said, mentioning U.S. President Trump’s tariffs and the China slowdown, “there are also a lot of internal challenges with our wonderful brands, which are all enjoying a great momentum in their trajectory, albeit different from one another,” he said, mentioning, for example, K-Way.
As reported, Permira Growth Opportunities II, a fund managed by global investment firm Permira, acquired a 40 percent stake in the French premium outerwear brand K-Way from BasicNet, which holds the remaining 60 percent stake.
Sebago, fall 2025 men’s
Courtesy of Sebago
The generational handover news comes as BasicNet is said to be inching closer to a deal with Kickoff, a group helmed by Simona Barbieri and Tiziano Sgarbi, to acquire Sundek, the beachwear brand founded in 1958 in San Francisco and synonymous with surf culture.
In the interview with WWD, Lorenzo Boglione set the record straight saying: “it’s a company and people we know well, but what’s been written is completely detached from reality. There are no negotiations, no talks underway, and we’re certainly not close to signing any agreement. There’s nothing remotely comparable to what’s been reported. We maintain a relationship with them, as we do with other players in our industry.”
Media reports on Thursday suggested a deal was imminent.
As reported, BasicNet logged consolidated 2024 revenues of 409.2 million euros, up 3.1 percent from 396.8 million euros in 2023.
This included direct sales of 346.8 million euros, up 4.2 percent on 2023, and royalties from commercial and production licensees of 60.9 million euros, a 2.2 percent decrease.
In 2024, group earnings before interest, taxes, depreciation and amortization totaled 61.1 million euros, up 5.1 percent on 58.1 million euros in 2023, despite increased investments in sponsorships and communication and human resources, reflecting the group’s commitment to develop the brands.
The company distributed dividends of 7.5 million euros last year, and acquired treasury shares for 14.4 million euros.