K•Swiss Inc., owner of the K•Swiss and Palladium brands, announced the strategic acquisition of Malibu, CA-based contemporary comfort footwear brand OTZ Shoes Inc. Under the agreement, OTZ Shoes will continue to operate as an independent subsidiary of K•Swiss Inc., with key executives remaining in place. The acquisition marks the first addition to the K•Swiss Inc. company portfolio since the completion of its April 30 merger with E.Land.
Founded in 2009 by sneaker industry veteran Ludo Malmoux and partner
Skip Murgatroyd, OTZ Shoes promotes health and sustainability and is
bringing modern style and creativity to the comfort category. The brand
is modeled on the oldest shoe ever found on Oetzi, the prehistoric
iceman found frozen in the Otzal Alps in 1991. Since its inception, OTZ
Shoes has grown 300% year-over-year and is currently distributed in 23
“OTZ Shoes has done a tremendous job
establishing distinction and elevating the bar in the comfort market,”
said Larry Remington, president and CEO of K•Swiss Inc. “We believe that
with our resources and infrastructure, we can help the brand dominate
the contemporary comfort category and realize 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.”
Shoes 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. Malmoux will remain a minority stakeholder in the brand.
The OTZ Shoes executive team will report to Remington and K•Swiss Inc.
CMO Barney Waters in support of the brand’s growth initiatives.
alliance will prove to bring great value to our operations and help
shore up some of the rapid growth challenges we’ve had as a business,”
commented Rief. “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.”
Source Kswiss through SportsOnesource
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