EXHIBIT 21



SUBSIDIARIES OF K2 INC.



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|-------------------------------------------------------------------------- |  | --------------------------------------------------------------------- | - |  | ----- | -
|                                                                           |  | Percentage of Voting Securities Owned or Subject to Voting Control By |  
|                                                                           |  | Company                                                               |   |  | Other |  
|Shakespeare Conductive Fibers, LLC a Delaware limited liability company    |  | 100                                                                   | % |  |       |  
|K2 (Hong Kong) Ltd., a Hong Kong corporation                               |  | 100                                                                   | % |  |       |  
|Shakespeare Company, LLC a Delaware limited liability company              |  | 100                                                                   | % |  |       |  
|Subsidiaries of Shakespeare Company, LLC:                                  |  |                                                                       |   |  |       |  
|Shakespeare All Star Acquisition LLC, a Delaware limited liability company |  |                                                                       |   |  | 100   | %
|Shakespeare (Hong Kong) Ltd., a Hong Kong corporation                      |  |                                                                       |   |  | 100   | %
|Pacific Rim Metallic Products Ltd., a Hong Kong corporation                |  |                                                                       |   |  | 100   | %
|Shakespeare Industries, Inc., a Delaware corporation                       |  |                                                                       |   |  | 100   | %
|Shakespeare Europe BV, a Dutch corporation                                 |  |                                                                       |   |  | 100   | %
|Shakespeare (Australia) Pty. Ltd., an Australian corporation               |  |                                                                       |   |  | 100   | %
|K2 Ski Sport und Mode GmbH, a German corporation                           |  |                                                                       |   |  | 100   | %
|Shakespeare Monofilament U.K. Ltd., a British corporation                  |  | *                                                                     | % |  | 99    | %
|Shakespeare International Ltd., a British corporation                      |  | *                                                                     | % |  | 99    | %
|Subsidiaries of Shakespeare International Ltd.:                            |  |                                                                       |   |  |       |  
|Shakespeare Company (UK) Ltd., a British corporation                       |  |                                                                       |   |  | 100   | %
|K2 Worldwide Company, a Cayman Island corporation                          |  | 100                                                                   | % |  |       |  
|K2 Bike, Inc., a Delaware corporation                                      |  | 100                                                                   | % |  |       |  
|Sitca Corporation, a Washington corporation                                |  | 100                                                                   | % |  |       |  
|Subsidiaries of Sitca Corporation:                                         |  |                                                                       |   |  |       |  
|K-2 Corporation, an Indiana corporation                                    |  |                                                                       |   |  | 100   | %
|Subsidiaries of K-2 Corporation:                                           |  |                                                                       |   |  |       |  
|Earth Products, Inc., a California corporation                             |  |                                                                       |   |  | 100   | %
|K-2 International, Inc., an Indiana corporation                            |  |                                                                       |   |  | 100   | %
|K2 Japan Corporation, a Japanese corporation                               |  |                                                                       |   |  | 100   | %
|Madshus A.S., a Norwegian corporation                                      |  |                                                                       |   |  | 100   | %
|Katin, Inc., a Delaware corporation                                        |  |                                                                       |   |  | 100   | %
|Morrow Snowboards, a Delaware corporation                                  |  |                                                                       |   |  | 100   | %
|SMCA, Inc., a Minnesota corporation                                        |  | 100                                                                   | % |  |       |  
|Subsidiary of SMCA, Inc.:                                                  |  |                                                                       |   |  |       |  
|Stearns Inc., a Minnesota corporation                                      |  |                                                                       |   |  | 100   | %
|Subsidiaries of Stearns Inc:                                               |  |                                                                       |   |  |       |  
|SATV, LLC, a Delaware limited liability company                            |  |                                                                       |   |  | 100   | %
|Sospenders LLC, a Delaware limited liability company                       |  |                                                                       |   |  | 100   | %
|Ride, Inc., a Washington corporation                                       |  | 100                                                                   | % |  |       |  
|Subsidiaries of Ride, Inc.:                                                |  |                                                                       |   |  |       |  
|K2 Corporation of Canada, a Canadian corporation                           |  |                                                                       |   |  | 100   | %
|Ride Snowboard Company, a Washington corporation                           |  |                                                                       |   |  | 100   | %
|Ride Manufacturing, Inc, a California corporation                          |  |                                                                       |   |  | 100   | %
|SMP Clothing, Inc., a Washington corporation                               |  |                                                                       |   |  | 100   | %
|Smiley Hats, Inc., a Nevada corporation                                    |  |                                                                       |   |  | 100   | %
|Carve, Inc., a Washington corporation                                      |  |                                                                       |   |  | 100   | %
|Preston Binding Company, a Washington corporation                          |  |                                                                       |   |  | 100   | %
|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                                                                   | % |  |       |  



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|------------------------------------------------------------------------------- |  | --------------------------------------------------------------------- | - |  | ----- | -
|                                                                                |  | Percentage of Voting Securities Owned or Subject to Voting Control By |  
|                                                                                |  | Company                                                               |   |  | Other |  
|Rawlings Sporting Goods Company, a Delaware corporation                         |  | 100                                                                   | % |  |       |  
|Subsidiaries of Rawlings Sporting Goods Company:                                |  |                                                                       |   |  |       |  
|Rawlings Canada Inc., a Canadian corporation                                    |  |                                                                       |   |  | 100   | %
|Rawlings de Costa Rica, S.A., a Costa Rican corporation                         |  |                                                                       |   |  | 100   | %
|Miken Sports, LLC a Delaware limited liability company                          |  |                                                                       |   |  | 100   | %
|Worth, LLC, a Delaware limited liability company                                |  |                                                                       |   |  |       |  
|Subsidiaries of Worth, LLC:                                                     |  | 100                                                                   | % |  |       |  
|Worth Bat Company, Inc., a Tennessee corporation                                |  |                                                                       |   |  | 100   | %
|Worth Accessories, Inc., a Tennessee corporation                                |  |                                                                       |   |  | 100   | %
|J. de Beer & Son, Inc., a Tennessee corporation                                 |  |                                                                       |   |  | 100   | %
|K2 Eyewear, LLC, a Delaware limited liability company                           |  | 100                                                                   | % |  |       |  
|K2 Snowshoes, Inc., a Delaware corporation                                      |  | 100                                                                   | % |  |       |  
|K2 Licensing & Promotions, Inc., a Delaware corporation                         |  | 100                                                                   | % |  |       |  
|K2 Merchandising, Inc., a Delaware corporation                                  |  | 100                                                                   | % |  |       |  
|Brass Eagle, LLC, a Delaware limited liability company                          |  | 100                                                                   | % |  |       |  
|Subsidiaries of Brass Eagle, LLC:                                               |  |                                                                       |   |  |       |  
|JT USA LLC, a Delaware limited liability company                                |  |                                                                       |   |  | 100   | %
|Subsidiary of JT USA LLC:                                                       |  |                                                                       |   |  |       |  
|JT Protective Gear LLC, a Delaware limited liability company                    |  |                                                                       |   |  | 100   | %
|Brass Eagle Challenge Park Inc., a Delaware corporation                         |  |                                                                       |   |  | 100   | %
|Subsidiary of Brass Eagle Challenge Park Inc.                                   |  |                                                                       |   |  |       |  
|Challenge Park Xtreme LLC, an Arkansas limited liability company                |  |                                                                       |   |  | 87    | %
|Subsidiary of Challenge Park Xtreme LLC                                         |  |                                                                       |   |  |       |  
|Challenge Park Entertainment Services LLC, a Delaware limited liability company |  |                                                                       |   |  | 100   | %
|WGP, LLC, a Delaware limited liability company                                  |  | 100                                                                   | % |  |       |  
|Ex Officio LLC, a Delaware limited liability company                            |  | 100                                                                   | % |  |       |  
|Subsidiary of Ex Officio LLC:                                                   |  |                                                                       |   |  |       |  
|Ex Officio Internet Company, LLC, a Delaware limited liability company          |  | 100                                                                   | % |  |       |  
|Marmot Mountain, LLC, a Delaware limited liability company                      |  | 100                                                                   | % |  |       |  
|Subsidiaries of Marmot Mountain, LLC:                                           |  |                                                                       |   |  |       |  
|Marmot Mountain Canada Ltd., a Canadian company                                 |  |                                                                       |   |  | 100   | %
|Marmot Mountain Europe GmbH, a German company                                   |  |                                                                       |   |  | 100   | %
|Marmot Mountain Overseas Ltd., a Hong Kong company                              |  |                                                                       |   |  | 100   | %
|Sports Recreation Company Ltd., a Nevada corporation                            |  |                                                                       |   |  | 100   | %
|Cavoma Ltd., a Cayman Island corporation                                        |  | 100                                                                   | % |  |       |  
|Subsidiary of Cavoma Ltd.:                                                      |  |                                                                       |   |  |       |  
|Cavoma LP, a Cayman Island limited partnership                                  |  |                                                                       |   |  | 100   | %
|Subsidiaries of Cavoma LP:                                                      |  |                                                                       |   |  |       |  
|Clarance S.a.r.l., a Luxembourg corporation                                     |  |                                                                       |   |  | 100   | %
|Marker Völkl Sports Holding GmbH, a Swiss stock corporation                     |  |                                                                       |   |  | 100   | %
|Subsidiaries of Marker Völkl Sports Holding GmbH:                               |  |                                                                       |   |  |       |  
|Marker  Völkl  Austria GmbH, an Austrian company                              |  |                                                                       |   |  | 100   | %
|Rad Air AG Switzerland, a Swiss stock corporation                               |  |                                                                       |   |  | 100   | %
|Völkl (International) GmbH, a Swiss company                                     |  |                                                                       |   |  | 100   | %
|Subsidiary of Völkl (International) GmbH:                                       |  |                                                                       |   |  |       |  
|Völkl Purchase & Service GmbH, a German company                                 |  |                                                                       |   |  | 100   | %



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|                                                                |  |                                                                       |   |  |       |  
|--------------------------------------------------------------- |  | --------------------------------------------------------------------- | - |  | ----- | -
|                                                                |  | Percentage of Voting Securities Owned or Subject to Voting Control By |  
|                                                                |  | Company                                                               |   |  | Other |  
|Zero Degree, a Swiss stock corporation                          |  |                                                                       |   |  | 100   | %
|Völkl GmbH, a German company                                    |  |                                                                       |   |  | 100   | %
|Völkl Sports GmbH & Co. KG, a German company                    |  |                                                                       |   |  | 100   | %
|Subsidiaries of Völkl Sports GmbH & Co. KG:                     |  |                                                                       |   |  |       |  
|Völkl Vertriebs GmbH, a German company                          |  |                                                                       |   |  | 100   | %
|BIL Grundstucksverwaltungs-GmbH & Co. WEDA KG, a German company |  |                                                                       |   |  | 100   | %
|Marker International GmbH Switzerland, a Swiss company          |  |                                                                       |   |  | 100   | %
|Subsidiaries of Marker International GmbH:                      |  |                                                                       |   |  |       |  
|Marker Japan, a Japanese corporation                            |  |                                                                       |   |  | 100   | %
|Marker Deutschland GmbH, a German company                       |  |                                                                       |   |  | 100   | %
|Subsidiary of Marker Deutschland GmbH:                          |  |                                                                       |   |  |       |  
|Marker CZ s.r.o., a Czech company                               |  |                                                                       |   |  | **95  | %
|Völkl Sport America Corp., a New Hampshire corporation          |  | 100                                                                   | % |  |       |  
|Marker USA, Inc., a Utah corporation                            |  | 100                                                                   | % |  |       |  

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|* |  | Less than 1%.
|- |  | -------------

|** |  | Only 1/3 voting rights
|-- |  | ----------------------