Perhaps most suitably named the footwear industry’s rollercoaster brand, L.A. Gear has seen extreme success and extreme failure since its inception in 1983. Endorsed in the past by athletes including Kareem Abdul Jabbar, Karl Malone, Hakeem Olajuwon, and artists Michael Jackson and Paula Abdul, L.A. Gear grew to $830 million in sales within seven years. The brand fell apart just as quickly declaring bankruptcy in 1998. Owned by ACI International (who also owns Original Penguin, Perry Ellis, and other fashion brands), L.A. Gear is trying to make a come back by relaunching retro styles from 1989-1990.
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