Royal Elastics

From Wikipedia, the free encyclopedia

Royal Elastics is a brand of athletic and leisure shoes that fastens with velcro and elasticated cord instead of laces.

The company was founded in 1996 by two Australians who realised there was no need for laces in sneakers, and produced shoes fastened using velcro or elasticated cord.[1] It was acquired by American footwear company, K-Swiss in 2001 for an undisclosed amount in an effort to expand its share of the athletic and leisure shoe market.[2] The founders, Rodney Adler and Tull Price, relocated to K-Swiss headquarters at Westlake Village, California.[3]

By 2008, the company had 10 stores in Asia and opened its first store in the United States.[4] K-Swiss later sold Royal Elastics to a management led investment group in 2009, recording a gain of $1.4 million in the second quarter.[5]

References

  1. ↑ "USA : Royal Elastics introduces ‘King and Queen’". Fibre2fashion. February 1, 2008.  "Royal Elastics started in 1996 with the radical idea that sneakers don't need laces. Instead, footwear fastens with elasticized shock cord or Velcro."It was inspired by kids who went skateboarding and ripped their laces out," Ludo says. "It's easy and fast to put on.""
  2. ↑ Lenetz, Dana (November 19, 2001). "K-Swiss nab Royal Elastic". Footwear News. Retrieved 2 May 2010. 
  3. ↑ "Ventura County Star, Calif., Business Briefs Column.". Knight Ridder/Tribune Business News. 14 November 2001. Retrieved 3 May 2010. 
  4. ↑ "USA : Royal Elastics introduces ‘King and Queen’". Fibre2fashion. February 1, 2008.  "Royal Elastics, the innovative footwear brand, opens its first U.S. retail store, Royal on Main, at 2427 Main Street. The store showcases Royal Elastics' alternative sneakers and flats for men, women and children. .... Royal Elastics was founded in 1996 in Australia, and now has 10 retail stores in Asia. The success of the Asian stores inspired Royal Elastics to open in the United States."
  5. ↑ "K-Swiss sells Royal Elastics division". Los Angeles Business. 4 May 2009. Retrieved 3 May 2010. 
This article is issued from Wikipedia. The text is available under the Creative Commons Attribution/Share Alike; additional terms may apply for the media files.