The Financial Post reports in its Thursday edition that Roots made headlines last week after a surprise announcement that it had initiated a strategic review that could possibly culminate in a sale of the company. The Post's Serah Louis writes that Roots' latest quarterly results showed steady growth, but industry watchers say the retailer could consider entering the fold of a larger Canadian entity to leverage its homegrown identity during a time of national pride. The founders of Roots, Michael Budman and Don Green, were kids from Detroit who spent their summers in the heart of Canada's wilderness. "They fell in love with this Canadian ideal of the Muskoka lifestyle," said Rotman Professor Dimitry Anastakis. Mr. Budman and Mr. Green eventually conceived the first-ever Roots product -- the negative-heel shoe. The plain brown shoes featured a heel lower than the toe, with the aim of improving posture, and were sold out by the end of the month when launched in August, 1973, at Roots' first store on Yonge Street in Toronto. Prof. Anastakis said he would not be surprised if a larger Canadian entity such as Canadian Tire or Fairweather owner Groupe Les Ailes de la Mode considered adding Roots to their repertoire.
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