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K-Swiss Sells Royal Elastics

Investment group buys the laceless footwear brand.

K-Swiss will be moving forward without the Royal treatment.
 
The Westlake Village, Calif.-based company announced yesterday it had completed the sale of its Royal Elastics brand to REH, an investment group headed by the label’s Los Angeles-based product design director.
 
While terms of the deal were not disclosed, the company said the sale includes worldwide rights to the Royal brand, certain existing inventory and other assets.
 
K-Swiss said the deal would result in a bottom-line gain of $1.4 million, or 4 cents a diluted share, during the second quarter.
 
“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,” Chairman and President Steven Nichols said in a press release.

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