EXHIBIT 21



SUBSIDIARIES OF K2 INC.



|                                                                        |  | Percentage of Voting Securities Owned or Subject to Voting Control By |  
|----------------------------------------------------------------------- |  | --------------------------------------------------------------------- | -
|                                                                        |  | Company                                                               |  
|Shakespeare Conductive Fibers, LLC a Delaware limited liability company |  | 100                                                                   | %
|Shakespeare Company, LLC a Delaware limited liability company           |  | 100                                                                   | %
|Subsidiaries of Shakespeare Company, LLC:                               |  |                                                                       |  
|Shakespeare (Hong Kong) Ltd., a Hong Kong corporation                   |  |                                                                       |  
|Subsidiary of Shakespeare (Hong Kong) Ltd.:                             |  |                                                                       |  
|Pacific Rim Metallic Products Ltd., a Hong Kong corporation             |  |                                                                       |  
|Shakespeare Hengelsport, B.V., a Dutch corporation                      |  |                                                                       |  
|Shakespeare (Australia) Pty. Ltd., an Australian corporation            |  |                                                                       |  
|K2 Ski Sport und Mode GmbH, a German corporation                        |  |                                                                       |  
|Sitca Corporation, a Washington corporation                             |  | 100                                                                   | %
|Subsidiaries of Sitca Corporation:                                      |  |                                                                       |  
|K-2 Corporation, an Indiana corporation                                 |  |                                                                       |  
|Subsidiaries of K-2 Corporation:                                        |  |                                                                       |  
|Planet Earth Skateboards, Inc., a California corporation                |  |                                                                       |  
|K-2 International, Inc., an Indiana corporation                         |  |                                                                       |  
|K2 Japan Corporation, a Japanese corporation                            |  |                                                                       |  
|Madshus A.S., a Norwegian corporation                                   |  |                                                                       |  
|Shakespeare International Ltd., a British corporation                   |  | 100                                                                   | %
|Subsidiaries of Shakespeare International Ltd.:                         |  |                                                                       |  
|Shakespeare Company (UK) Ltd., a British corporation                    |  |                                                                       |  
|Shakespeare Monofilament U.K. Ltd., a British corporation               |  |                                                                       |  
|SMCA, Inc., a Minnesota corporation                                     |  | 100                                                                   | %
|Subsidiary of SMCA, Inc.:                                               |  |                                                                       |  
|Stearns Inc., a Minnesota corporation                                   |  |                                                                       |  
|Ride, Inc., a Washington corporation                                    |  | 100                                                                   | %
|Subsidiaries of Ride, Inc.:                                             |  |                                                                       |  
|Ride Snowboard Company, a Washington corporation                        |  |                                                                       |  
|Ride Manufacturing, Inc, a California corporation                       |  |                                                                       |  
|K2 Corporation of Canada, a Canadian corporation                        |  |                                                                       |  
|SMP Clothing, Inc., a Washington corporation                            |  |                                                                       |  
|Smiley Hats, Inc., a Nevada corporation                                 |  |                                                                       |  
|Carve, Inc., a Washington corporation                                   |  |                                                                       |  
|Preston Binding Company, a Washington corporation                       |  |                                                                       |  
|K2 Funding, Inc., a Delaware corporation                                |  | 100                                                                   | %
|K2 Finance Company, LLC, a Delaware limited liability company           |  | 100                                                                   | %
|K2 Receivables Corporation, a Delaware corporation                      |  | 100                                                                   | %
|Hilton Corporate Casuals, LLC a Delaware limited liability company      |  | 100                                                                   | %