The deal aims to further K Swiss’ global reach.
K Swiss Global Brands (KSGB) announced today that they have acquired skate footwear and apparel manufacturer ONE-Distribution, the parent company of boutique sneaker brand SUPRA and denim label KR3W. Robert ‘Cape’ Capener, a veteran of the footwear, apparel and action sports industries with a resume that includes positions at Adidas and Reebok, has been appointed president of both brands.
According to KSGB President and CEO Larry Remington, the acquisition will help the company meet its goal of being one of the top-tier multi-branded companies in the world. “To do that, we are continuously looking at footwear and apparel brands that will complement our existing portfolio,” Remington states. He cites growth potential, brand recognition, a track record of innovation and the ability to fit well within KSGB’s current portfolio without cannibalizing business as key criteria for new additions.
The time is right for expansion, in part because the skate customer is a new one for KSGB. “Within our existing portfolio, we have K Swiss, which is heritage American tennis, Palladium, a boot brand engineered for city terrain, OTZ, our modern contemporary brand, and PLDM, which is our French fast fashion brand that we just introduced this year,” Remington explains. “SUPRA and KR3W are deeply embedded in skate culture and that’s something we haven’t participated in. They’re expanding their horizons into a lifestyle mode but they’ll always have skate heritage. We’re filling that silo of business at K Swiss.”
Remington notes that both SUPRA and KR3W have strong brand platforms and present the opportunity for global growth. In addition to furthering the company’s reach in the Americas, KSGB is setting its sights on Europe, the Middle East, Africa and Asia, with particular focus on China.