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miro_o
I can't believe I'm posting, but strategy and ubiquity.
Wapha's growth has to come at the high end; and in their shops, where they control their own image. This it the 'Gucci/Hermes/Ray Ban' approach to their product. No matter that Sky might become the most successful team ever, that isn't consistent with their approach.
Of course, maybe they just didn't get enough sales of the product to justify the financial elements of the deal. That could be simpler.