EXHIBIT 21

LIST OF SUBSIDIARIES

Unless otherwise noted, all of the entities listed below are wholly owned subsidiaries of K•Swiss Inc.

  1. K•Swiss Pacific Inc., a Massachusetts corporation.

  2. K•Swiss International Ltd., a corporation organized under the laws of Bermuda.

  3. KS UK Ltd., a United Kingdom corporation.

  4. K•Swiss Europe B.V., a Dutch corporation.

  5. K•Swiss S.A. de C.V., a Mexico corporation.

  6. K•Swiss Australia Pty. Ltd., an Australia corporation.

  7. K•Swiss Direct Inc., a California corporation.

  8. K•Swiss Sales Corp., a Delaware corporation.

  9. K•Swiss NS Inc., a Delaware corporation.

  10. K•Swiss Canada Corp., a Nova Scotia corporation.

  11. 1166789 Ontario Inc., an Ontario, Canada corporation.

  12. K•Swiss Germany GmbH, a Germany corporation.

  13. K•Swiss France SAS, a France corporation.

  14. K•Swiss S.r.l., an Italy corporation.

  15. K•Swiss Singapore Private Ltd., a Singapore corporation.

  16. K•Swiss Retail Ltd., a United Kingdom corporation.

  17. K•Swiss Iberia S.L., a Spain corporation.

  18. Royal Elastics LLC, a Delaware limited liability company.

  19. Royal Elastics Inc., a California corporation.

  20. ARFI SAS, a France corporation (57% owned).

  21. Palladium SAS, a France corporation (57% owned).

  22. Vantage Finance SAS, a France corporation (57% owned).

  23. Pallinvest SAS, a France corporation (57% owned).