Vans skates out of partnership for Latin American shoe sales. (Retail).

SKATEBOARD shoe manufacturer Vans Inc., is closing down its joint venture operations in Brazil and Argentina after losing money this year.

Vans Latin America, a joint venture with Tavistock Co., accounted for the annual sale of 150,000 pairs of Vans shoes in Brazil and Argentina, and Andrew Greenebaum, Van'' senior vice president and chief financial officer.

Economic crises in both South American countries have made it a challenge to do business in these areas, said Greenebaum, who would not specify how much money the company lost on its joint-venture operation.

"It got very difficult down there managing through the currency devaluations," Greenbaum said. "For the time and energy and the return we were getting, it was not worth it."

He said the company would take a look maybe two years from now to see if they will resume operations in those countries.

Vans Latin America was responsible primarily for distributing Vans shoes, which are manufactured in China, to both small and large stores in Brazil and Argentina.

It was the latest in a string of losses the Santa Fe Springs-based company has experienced this year. For the year ended May 31, Vans reported a loss of $2.6 million, compared with net income of $15.4 million the previous year. Some store sales are down 3.5 percent for the year.

Vans shoes have faced stiff competition in the mass market and have been losing ground to basketball and retro styles.

Vans is also trying to figure out a way to attract more skateboarders to its 12 Vans skateboard parks that have not performed as expected.

Staff reporter Deborah Belgum can be reached at [phone] ext. 228, or at [e-mail]