Athletic footwear designer K Swiss has sold its laceless fashion footwear brand to an investment group. Terms of the deal between Westlake Village-based K Swiss and investment group REH for Royal Elastics were not disclosed. K Swiss, however, is expected to receive a gain of $1.4 million in the second quarter. REH is headed by the product design director of Royal Elastics. “We believe this new investment group understands the core essence of the Royal Elastics brand and are confident they will take the brand to a higher level,” said K Swiss Chairman and President Steven Nichols. Mark R. Madler
