 K-Swiss shoes |
Whereas its president, Steve Nichols, was affirming in May 2008 that “whatever we do, 2009 will not be a good year”, he has since specified that the business will look into measure to minimize losses over the course of a year which forecasts have judged “pessimistic”.
Moreover, nothing has been ruled out to reduce the expenditure of K-Swiss, from the suspension of shareholder dividends to a reduction of staff.
Even though the sum of the transaction has not been revealed, the transfer of Royal Elastics to REH, a company headed by the director of style of Royal Elastics, will allow the brand to save up to $1.4 million over the second quarter of 2009, contributing to help the label stay the course in “the difficult economic context” and to maintain growth in the long-run.
By Jonathan Fulwell (Source: Emilie Kremer)