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                  |  | 1                                                                     | % |  | 99    | %
|Shakespeare International Ltd., a British corporation                      |  | 1                                                                     | % |  | 99    | %
|Subsidiaries of Shakespeare International Ltd.:                            |  |                                                                       |   |  |       |  
|Shakespeare Company (UK) Ltd., a British corporation                       |  |                                                                       |   |  | 100   | %
|Subsidiary of Shakespeare Company (UK) Ltd.:                               |  |                                                                       |   |  |       |  
|Expandpermit Limited, a British corporation                                |  |                                                                       |   |  | 100   | %
|Subsidiary of Expandpermit Limited:                                        |  |                                                                       |   |  |       |  
|JRC Products Limited, 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   | %
|K-2 Internet Company, LLC, a Delaware limited liability company            |  |                                                                       |   |  | 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   | %



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|                                                                       |  |                                                                       |   |  |       |  
|---------------------------------------------------------------------- |  | --------------------------------------------------------------------- | - |  | ----- | -
|                                                                       |  | Percentage of Voting Securities Owned or Subject to Voting Control By |  
|                                                                       |  | Company                                                               |   |  | Other |  
|Carve, Inc., a Washington corporation                                  |  |                                                                       |   |  | 100   | %
|Preston Binding Company, a Washington corporation                      |  |                                                                       |   |  | 100   | %
|K2 Properties, 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                                                                   | % |  |       |  
|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   | %
|K2 Eyewear, LLC, a Delaware limited liability company                  |  | 100                                                                   | % |  |       |  
|K2 Snowshoes, Inc., a Delaware corporation                             |  | 100                                                                   | % |  |       |  
|K2 Licensed Products, Inc., a Delaware corporation                     |  | 100                                                                   | % |  |       |  
|K2 Merchandising, Inc., a Delaware corporation                         |  | 100                                                                   | % |  |       |  
|K2 (Switzerland) GmbH, a Swiss stock 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   | %
|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   | %
|Marker Völkl USA, Inc., a New Hampshire 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   | %
|Marker Technica Völkl GmbH, a German company                           |  |                                                                       |   |  | 100   | %
|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:                            |  |                                                                       |   |  |       |  
|BIL Grudstucksverwaltungs-GmbH & Co. WEDA KG, a German company         |  |                                                                       |   |  | 95    | %
|Marker Völkl International GmbH, a Swiss company                       |  |                                                                       |   |  | 100   | %



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|                                                 |  |                                                                       |   |  |       |  
|------------------------------------------------ |  | --------------------------------------------------------------------- | - |  | ----- | -
|                                                 |  | Percentage of Voting Securities Owned or Subject to Voting Control By |  
|                                                 |  | Company                                                               |   |  | Other |  
|Subsidiaries of Marker Völkl International GmbH: |  |                                                                       |   |  |       |  
|Marker Japan, a Japanese corporation             |  |                                                                       |   |  | 100   | %
|Völkl Purchase & Service GmbH, a German company  |  |                                                                       |   |  | 100   | %
|Marker Deutschland GmbH, a German company        |  |                                                                       |   |  | 100   | %
|Subsidiary of Marker Deutschland GmbH:           |  |                                                                       |   |  |       |  
|Marker CZ s.r.o., a Czech company                |  | 100                                                                   | % |  |       |