Monday, November 06, 2006

REI Gives Seed Money to Launch Ahnu...

From this morning's BOSS Report

Van Dine and Partners, which is comprised of many of the former managers at Keen Footwear, plan to launch a new footwear brand that will make its debut in April
of 2007. Ahnu, taken from “Anu”, the Celtic goddess of well-being, is expected to be targeted at outdoor specialty.


One interesting twist is that REI will provide seed investment to support the company’s start-up costs, giving it a minority stake in Ahnu. A unique requirement
of the investment is that any profits REI may realize above its initial investment and related administrative costs will be donated to a non-profit that has a clear
mission of introducing people into the outdoors and protecting natural lands. The non-profit will be mutually agreed upon by both companies.

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