R.I.P. Lakai Footwear
Over the last week rumours have been swirling over the end of Lakai. Originally posted by an anonymous poster on SLAP, we reached out to Lakai and heard it was not looking good. Over the coming days all the legends came out and started posting the rumours were true. From team riders, designers, employees, and industry, there's been an outpouring of love and memories posted over the last week.
What Happened to Lakai?
In October 2014, Altamont Capital (a private investment company, nothing to do with the old skate clothing brand) bought a large chunk of ownership in HUF & Lakai footwear was included as part of the deal.
December 29th, 2017, Altamont Capital announces the sale of HUF & Lakai Footwear to TSI Holdings (another large private investment company).
On October 1st 2024, Marc Roca the Founder & CEO of Inversal Inc (a company with the motto "we acquire companies in distressed situation") made a linked in post saying that his company had purchased Lakai Footwear and he would be the new CEO, but that Rick, Mike and Meg would still be very involved in all input to the company. 
"During the 70-hour labor that culminated with the birth of my daughter Aurelia on September 28th, our team worked relentlessly on the final diligence and transition items of a deal that would change the future of skateboarding forever.
Lakai Limited Footwear will be the world's number-one core skateboard brand.
Craig C. for leading the due diligence and transition period with me. He has been with the brand for over 13 years and will become the new President with an ownership stake. This wouldn't have been possible without him, and I am lucky to call him my business partner.
Hiroki Yamamoto and Arthur Segovia from HUF, for being very open and organized with all our requests during a fast-tracked due diligence and transition period of just 6 weeks. Aaron Nir, thank you for guiding me into this industry and helping me understand the opportunity.
I also want to thank John Fang from Two Roads Advisors for bringing us all together as the sell side banker and James David Williams as our lawyer in this transaction.
Lastly, I want to thank the TSI Holdings Co Ltd board for believing Inversal is the right partner to inherit and grow this brand that has a 25-year heritage in skateboarding."
On November 5th 2024, an anonymous poster on SLAP made a thread called "Lakai is Done" stating that the new owners of Lakai had laid off Rick, Mike, Meg, the team, and all the employees.
Although no one has come out and directly said what happened, Mike Carroll made a post saying that Mike & Rick were let go by the new owner for refusing to cut the team. He also come out and made this Instagram post.
"I feel like we failed the team and everyone who loved and worked for Lakai. For that, I’m sorry to everyone I love. I appreciate all of you and thank all who supported Lakai and everyone we crossed paths with over the last 25 years. #FreeLakai 💜💪🏼" -Mike Carroll
Over the next few weeks and months, there will be a lot more information on the details coming out. But one thing's for sure, that if Rick, Mike & Meg are no longer involved, it is only Lakai by name. These 3 were the heart of the brand for so long it's sad to see it go, and we think the purchase of Lakai shoes should be avoided.
