Leading Italian sportswear firm BasicNet announced on Monday it has signed a partnership agreement with China's leading sportswear sector operator, the Li-Ning group.

In a statement, Basicnet said the Chinese company will become the new licensee its Kappa and Robe di Kappa brands for the next five years.

It added that during the five year period it expects sales to reach at least 59.5 million euros for its brands on the Chinese market.