8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Act of 1934

Date of Report (Date of earliest event reported) November 12, 2008

K-SWISS INC.

(Exact name of registrant as specified in its charter)

Delaware	0-18490	95-4265988
(State or other jurisdiction of incorporation or organization)	(Commission File Number)	(I.R.S. Employer Identification No.)

31248 Oak Crest Drive, Westlake Village, CA	91361
(Address of principal executive offices)	(Zip code)

818-706-5100

(Registrant’s telephone number, including area code)

N/A

(Former name, former address and former fiscal year, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01. OTHER EVENTS.

On November 12, 2008, K-Swiss Inc. (the “Company”) issued a press release announcing: (1) the declaration by the Board of Directors of a special cash dividend of $2.00 per share, payable on December 24, 2008, to shareholders of record as of December 10, 2008, and (2) the declaration of a fourth quarter dividend of $0.05 per share payable on January 15, 2009, to shareholders of record as of December 31, 2008.

The information in this Current Report on Form 8-K, including Exhibit 99.1 hereto, is being furnished under Item 8.01 “Other Events.” Such information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, (the “Exchange Act”) or otherwise subject to the liabilities of that Section, and shall not be deemed incorporated by reference in any filing, registration statement or other document filed under the Exchange Act or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number	Description of Exhibit
99.1	Press release issued November 12, 2008.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Date: November 14, 2008	K-Swiss Inc.
	By:	/S/ GEORGE POWLICK
		George Powlick,
		Vice President Finance, Chief Operating Officer, Chief Financial Officer and Director

EXHIBIT INDEX

Exhibit	Description
99.1	Press Release issued November 12, 2008.

EX-99.1

Exhibit 99.1

K•SWISS DECLARES SPECIAL CASH DIVIDEND AND REGULAR FOURTH

QUARTER 2008 CASH DIVIDEND

WESTLAKE VILLAGE, Ca. (November 12, 2008) – K•Swiss Inc. (NASDAQ/GS: KSWS) today announced that the Board of Directors has declared a special cash dividend of $2.00 per share, or approximately $70 million. The dividend is payable on December 24, 2008, to shareholders of record as of December 10, 2008.

Steven Nichols, Chairman of the Board and President, stated, “We have always strategically deployed our cash to provide strong long-term returns to our shareholders. Our cash continues to be reinvested in the company to further develop our products and the K•Swiss brand. It has also been used to acquire additional brands, such as our recent acquisition of Palladium, and to repurchase our shares. We are pleased to complement this ongoing strategy by returning a portion of the $290-plus million in cash on our September 30, 2008 balance sheet to shareholders with this special cash dividend.”

The Company also declared a quarterly cash dividend of $0.05 per share for the fourth quarter ending December 31, 2008. The dividend, which equates to an annualized rate of $0.20 per share, is payable on January 15, 2009, to shareholders of record as of December 31, 2008.

K•Swiss Inc. designs, develops and markets an array of athletic footwear for high performance sports use, fitness activities and casual wear under the K•Swiss and Royal Elastics brands. The Company also owns a controlling interest in French fashion footwear maker Palladium SAS.

Certain matters discussed in this press release are subject to certain risks and uncertainties that could cause actual results to differ materially, including, but not limited to: dependence on large customers and credit concentrations and order cancellations and reduced sales resulting from a slower worldwide economy, non-achievement of the assumptions discussed herein, general and regional economic conditions, availability of credit, industry trends, merchandise trends, including market acceptance of the Company’s product offerings, customer demand, competition, the impact of terrorism and/or a potential global conflict on the worldwide economy. A complete description of these factors, as well as others which could affect the Company’s business, is set forth in the Company’s periodic filings, including its Form 10-Q for the quarter ended September 30, 2008, which is currently on file with the SEC. “Backlog” as of any date, represents orders scheduled to be shipped within the next six months. Backlog does not include orders scheduled to be shipped on or prior to the date of determination of backlog. The mix of “futures” and “at-once” orders can vary significantly from quarter to quarter and year to year and, therefore, “futures” are not necessarily indicative of revenues for subsequent periods.

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