K-Swiss acquired by South Korean retail giant

摘要

Athletic brand K-Swiss Inc. is being bought by South Korean retail giant E. Land World for about US$170 million. Steven Nichols, Chairman of K-Swiss, lauded the purchase as being "in the best interests of K-Swiss and our stockholders." "E. Land has a 30-year" record of successfully building a global fashion and retail conglomerate," he said in a statement. "I believe that such a platform will provide K-Swiss with the resources to return to its former performance levels."