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R.G. Barry signs agreement with BasicNet S.p.A for Superga brand

20 Jun '07

2 min read

R.G. Barry Corporation announced it has entered into an agreement with BasicNet S.p.A. of Turin, Italy, through BasicNet's U.S. affiliate, Basic Properties America, Inc., to become the exclusive licensee in the United States and, beginning in July 2008, in Canada for the Superga brand of canvas/active fashion footwear.

Superga is a leading European lux brand in the canvas/active fashion footwear category. It currently enjoys an exclusive and limited North American exposure in premier department stores and footwear boutiques.

“The acquisition of the Superga license is a natural continuation of our long-term growth strategy,” said Greg Tunney, Chief Executive Officer and President of R.G. Barry Corporation.

“The canvas/active fashion footwear category is growing, and the depth of resources available to us through our collaboration with Superga will allow us to quickly enter this important segment with an internationally-known brand. Although the Superga name is relatively unknown in North America, in the minds of many Western European consumers it is on par with other leading international luxury footwear and accessory brands."

“Another benefit for us is the seasonal nature of the canvas/active fashion footwear business. With peak sales in this category occurring in the spring and summer seasons, we believe that Superga products will be a good counter-balance to the seasonality of our current core business,” Mr. Tunney said.

“We plan to continue to build upon Superga's existing relationships with premier department stores and footwear boutiques in North America,” added Thomas JZ Konecki, R.G. Barry Corporation Senior Vice President Sales, Licensing and Business Development.

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