K-Swiss sells Royal Elastics - footwearbiz: Leading site for global fo

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K-Swiss sells Royal Elastics

06/05/2009

Athletic footwear producer K-Swiss has completed the sale of Royal Elastics, the company's laceless fashion footwear brand, to REH, an investment group led by Royal Elastics' LA-based product design director. The sale is expected to result in a gain of $1.4 million in the second quarter of 2009. Terms of the sale were not disclosed.

Steven Nichols, chairman of the board and president, said: "We believe this new investment group understands the core essence of the Royal Elastics brand and are confident they will take the brand to a higher level."

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