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*The Boston Herald is reporting that Stride Rite Corp has reacquired Pro-Keds shoe brand from rap mogul Damon Dash, who had purchased the licensing rights four years ago for an undisclosed amount.
News comes one week after New York newspapers reported he may lose two of his properties to foreclosure.
A rep for Lexington-based Stride Rite insisted Dash’s money problems had nothing to do with the rebranding.
“It was just a matter of timing,” Stride Rite spokeswoman Debra Fernandes told the newspaper. “We just wanted a new direction.”
Stride Rite – owned by Collective Brands Inc. of Topeka, Kan. – plans to kick off the new Pro-Keds line in November. Classic styles such as the Royal and Court King will be updated with new materials and colors. It also will launch limited-edition lines in a few months.