NewAge assigned Umbro sportswear licence for Italy
Italian manufacturer NewAge, founded in 1997 and specialised in underwear, homewear and beachwear - a licensee of brands like Diadora, Laura Biagiotti and Paul Martin - has been assigned the licence for Italy by Umbro, the oldest sportswear brand with a football focus, founded in England in 1924 by the Humphreys brothers.
NewAge, based in the southern Italian region of Apulia, inked the licence deal with New York investment fund Iconix Brand Group, owner of Umbro. The Italian manufacturer set up the Umbro Italy business unit, and it is keen to strengthen in the sportswear sector by relaunching Umbro as a leading athleisure brand. The first Umbro Italy collection will be Autumn/Winter 2018-19. The revenue target for the second half of 2018 is to reach €8 million.
“We have ambitious objectives,” said Luigi Germinario, General Manager of Umbro Italy. “We aim for a revenue worth at least half of NewAge’s in 2017, and also to soon become the first [sportswear] brand in southern Italy, and the third in the country.”
NewAge was founded by husband and wife Pino Magno and Maria Grazia Fortunato. In 2017, its revenue was €16 million, confirming the growth trend of the last few years, with an output of 6 million items produced.
Umbro has a long-standing tradition as football kit supplier. It outfitted the English national team several times, including the 1966 World Cup-winning side (in 1966, 15 out of 16 teams in the finals wore Umbro), and the 1958 and 1970 World Cup-winning Brazilian team.
Copyright © 2021 FashionNetwork.com All rights reserved.