K-Swiss acquires OTZ Shoes

E.Land and K-Swiss Inc. have acquired California-based comfort footwear brand OTZ Shoes,

marking the first addition to the K-Swiss company portfolio since merging with E-Land at the end of last month.

Under the agreement, OTZ Shoes will operate as an independent subsidiary of K-Swiss, and the brand will continue to be led by CEO Bob Rief, president and creative director Ludo Malmoux, and co-founder Skip Murgatroyd, who will support legal counsel. In addition, Malmoux will remain a minority stakeholder in the brand.

Commenting on the acquisition, Larry Remington, president and CEO of K-Swiss Inc., said: "We believe that with our resources and infrastructure, we can help the brand dominate the contemporary comfort category and realise its global potential.

"The brand will be a key addition for us, helping us build a portfolio of globally-relevant brands across a number of categories."

Rief added: "This alliance will bring great value to our operations and help shore up some of the rapid growth challenges we've had as a business. E.Land and K-Swiss Inc. have a very progressive plan for the future and we look forward to working with them as they continue to build momentum for the brand."

Founded in 2009, OTZ Shoes distributes in 23 countries worldwide, and centres around the promotion of healthy and sustainable footwear that is both stylish and comfortable.