by InTrieste
BasicNet, the Turin-based apparel group known for reviving legacy brands like Kappa, Superga and Sebago, is on the verge of acquiring Sundek, the California-born swimwear label beloved by surfers around the globe.
Though no official comment has been made, reports in La Stampa and Fashionmagazine.it indicate that negotiations are in an advanced stage, with insiders suggesting a deal could be finalized in the coming weeks.
Founded in San Francisco in 1958, Sundek made a splash in the 1970s with its now-iconic Rainbow boardshorts — a staple in beach towns from Santa Cruz to Sydney. After a period of waning visibility, the brand was acquired in 2020 by fashion entrepreneurs Simona Barbieri and Tiziano Sgarbi. Under their stewardship, Sundek has regained momentum, now distributed in more than 1,500 multi-brand retailers and with 21 standalone stores across Italy.
The potential deal aligns with BasicNet’s strategy of acquiring heritage-rich labels and breathing new life into them via its extensive global network of licensees and digital infrastructure. “We know how to bring life back to a brand with history,” the Boglione family, which founded and continues to lead the company, said in a recent statement, reaffirming its appetite for acquisitions.
The news comes at a time of transition for BasicNet. At its annual shareholders’ meeting on April 17, the company approved its 2024 financial results and confirmed a dividend of €0.16 per share. Daniela Ovazza was appointed Executive Vice President, while outgoing CEO Federico Trono was lauded by chairman and founder Marco Boglione for his two-term leadership. The succession process, Boglione assured investors, will be “smooth and forward-looking.”
For BasicNet, adding Sundek to its portfolio would expand its reach further into the lifestyle and sportswear segment — this time with a brand that speaks to the sun-soaked, free-spirited ethos of surf culture. Market watchers say the acquisition could also position Sundek for broader international growth, potentially reinvigorating its presence in the U.S. and beyond.
While all parties remain tight-lipped, sources familiar with the matter say the finish line is in sight. If completed, the deal would mark a new chapter not just for Sundek, but for BasicNet’s growing empire of storied brands.
