Hip-Hop Mogul Damon Dash has lost the licensing rights to sneaker company Pro-Keds, after owning it for 4 years. Stride Rite Corp. has reacquired the rights to the Pro-Keds brand from Dash.
Stride Rite Corp. made the decision based on aiming for a new image for their 60th Anniversary of Pro-Keds.
â€œWe thank Damon for his partnership and efforts on the PRO-Keds brand over the past few years, and we look forward to re-launching the brand under the Stride Rite organization to maximize the brandâ€™s full potential,â€ Stride CEO Greg Ribatt said in a statement. â€œWe plan to tap our archives and re-issue the classic styles with fresh new design details, and to build on the brandâ€™s vintage position with a new brand image.â€
Pro-Keds is set to re-launch their new line of sneakers in November 2008 with prices ranging from $50 to $80. They plan on bringing back classic styles such as the Royal and Court King will be updated with new materials and colors and is also creating special limited-edition collections to celebrate their 60th anniversary.
All things seem to be falling down for Dame.