MILAN — Italy's Basic Net SpA has acquired footwear label Sebago, which is known for its iconic boat shoes.The operation, which is valued at $14.25 million, was finalized between Basic Net-controlled TOS Srl and the American group Wolverine World Wide Inc., which is listed on the New York Stock Exchange.“Sebago is an ideal brand for Basic Net: classic, iconic, sporty and renowned worldwide,” said Basic Net Group founder and chairman Marco Boglione in a statement. “This is a wonderful opportunity for the Basic Net’s network of distribution licensees and sourcing centers.”Basic Net’s investment was supported by a 13 million euro loan by Florence-based investment bank MPS Capital Services Banca per le Imprese.Sebago’s new owner and Wolverine also signed a collaboration agreement valid though December meant to better assist the brand’s international clients during the transition period.Sebago, which is sold in 90 countries, joins Basic Net's portfolio, which already includes Kappa, Robe di Kappa, Jesus Jeans, Superga, K-Way, Sabelt and Briko.Basic Net closed 2016 with net profits of 10.3 million euros and an EBIDTA of 21.5 million euros, down 32.8 percent compared to 2015.
@juicebeauty, where @gwynethpaltrow holds the title of creative director of makeup, has become one of the foremost labels in the organic beauty category –– with sales on track to hit $100 million this year. What’s behind the rapid growth the brand is experiencing right now? It all started in 2005 when the wellness movement was just getting started. Read more on WWD.com. #wwdbeauty
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"I want to tell a story that inspires people to feel good about themselves, but also I'm making a commentary about the lack of female stories and female directors and saying this should change," said @imheathergraham on her latest project "Half Magic." The comedy feature, which the actress wrote and directed, is based on her own struggles as a woman in show business. Read @andrewnodell's full interview with Graham on WWD.com. #wwdeye (📷: @jgreenery)
@meltcosmetics cofounders @lora_arellano and @danabomar built their brand on a single idea: a true matte lipstick. To set the brand apart, they said they always put their customers first –– including a personalized note in each package. #wwdsummits #wwdbeauty
@moncler unveiled its latest project, #MonclerGenius, yesterday at Milan Fashion Week. The Italian outwear maker gave show-goers a preview of the monthly collections – which were created by eight designers and creative talents including Pierpaolo Piccioli, Simone Rocha, Craig Green and more – that will start rolling out in the summer.