May 5, 2009 (FinancialWire) — K•Swiss Inc. (NASDAQ: KSWS) has completed the sale of Royal Elastics, the company’s laceless fashion footwear brand, to REH, an investment group led by Royal Elastics’ LA-based product design director. Terms of the sale were not disclosed.

The company said that the sale, which includes the company’s worldwide rights to the Royal Elastics brand, existing inventory, and other selected assets, is expected to result in a gain of $1.4 million, or $0.04 per diluted share, in the second quarter of 2009.

K•Swiss will report earnings for the first quarter of 2009 on May 7.

Westlake Village, California-based K•Swiss designs, develops and markets a range of athletic footwear for sports use, fitness activities and casual wear.

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