K-Swiss looks to new image to kick losses
With a recent acquisition and a quirky new advertising campaign that features a fictional former sports star, K-Swiss is trying to gain traction in the youth footwear market.
The Westlake Village-based shoe manufacturer has been struggling for years to grab market share and to modernize its image beyond its signature white tennis shoe. On Aug. 5, it reported a $14.5 million loss, compared to an $11.5 million loss in the second quarter of 2009.
The widening losses follow faltering K-Swiss shoe sales. The company’s total quarterly worldwide revenue dropped 13.3 percent to $46.8 million as U.S. sales plummeted 21 percent to $22.7 million.