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Skechers

Topic: Company

 From HandWiki - Reading time: 7 min

Short description: American multinational footwear and apparel company
Skechers USA, Inc.
TypePublic
  • NYSE: SKX (Class A)
  • S&P 400 component
IndustryClothing
Founded1992; 34 years ago (1992)
FounderRobert Greenberg
Headquarters
Manhattan Beach, California
,
U.S.
Number of locations
4,992 (2023)
Area served
Worldwide
Key people
  • Robert Greenberg
  • (Chairman and CEO)
  • Michael Greenberg
  • (President)
Products
RevenueIncrease US$7.44 billion (2022)
Decrease US$546.7 million (2022)
Decrease US$373 million (2022)
Total assetsIncrease US$7.2 billion (2023)
Number of employees
c. 15,100 (2022)
Websitewww.skechers.com
Footnotes / references
[1][2]

Skechers USA, Inc. is an American multinational footwear and apparel company. Headquartered in Manhattan Beach, California, it was founded in 1992 and is the third largest footwear brand in the United States.

History

A store in Rotterdam, Netherlands
A Skechers retail store in the United States

Skechers was founded in 1992 by Robert Greenberg, who had previously founded LA Gear in 1983 (he stepped down as CEO of that company the same year he founded Skechers). Greenberg sought to focus on men's street shoes; Skechers' early products were utility-style boots popular in grunge fashion.[3] The company quickly expanded to include women and children, with casual and athletic styles, and went public in 1999.[4][5] In 2011, Skechers launched its performance sportswear line for athletes and signed Meb Keflezighi as a spokesman.[6]

Skechers is the third largest footwear brand in the United States by revenue.[7][8] In January 2019, the company started an expansion of its corporate headquarters to double its office, design and showroom space in the South Bay.[9] In 2023, Skechers had its debut on the Fortune 500 .[10]

Litigation

In 2012, Skechers agreed to settle a class action lawsuit for $40 million based on a U.S. Federal Trade Commission complaint that it had misled customers with its Shape-Ups rocker bottom shoe ads.[11] In 2019, Nike filed a patent infringement lawsuit against Skechers because, according to Nike, Skechers had infringed on the design of their VaporMax and Air Max 270 sneakers.[12]

Forced labor investigation

In 2021, French prosecutors launched an investigation into whether Skechers and other brands had concealed or profited from forced Uyghur labor.[13][14] Skechers has found no evidence of forced labor taking place.[15]

Products and advertising

Skechers designs, develops and markets a range of lifestyle and performance footwear, apparel and accessories for adults and children. Its brands include Skechers Sport, Slip-ins, D'Lites, the charity line Bobs, Mark Nason, Skechers Work, Go Walk, Go Run, and Go Golf.[1] Since 2020, select shoes have utilized Goodyear rubber.[16]

Edward Cheserek has endorsed Skechers Performance since 2017.[17]

Skechers has promoted its products with celebrities including singers Ava Max and Cha Eun-woo;[18][19] television personalities Martha Stewart, Brooke Burke, and Amanda Kloots;[20] baseball player Clayton Kershaw and boxer Sugar Ray Leonard;[20] footballers Jamie Redknapp and Michael Ballack;[21] and American football players Tony Romo, Howie Long, and Cris Carter.[20] Skechers Performance has featured distance runner Meb Keflezighi and professional golfers Brooke Henderson and Matt Fitzpatrick.[22][20]

Since 2010, Skechers has been a regular Super Bowl advertiser, with spots featuring Kim Kardashian, Willie Nelson, and Snoop Dogg.[23]

On March 1, 2019, Skechers launched a print and digital comparative advertising campaign titled "Just Blew It" to highlight the Zion Williamson failed shoe incident with rival Nike.[24]

Car #32 at the 2021 ADAC GT Masters in Austria

Skechers has been a partner of W Racing Team (WRT) in sports car racing, including former MotoGP champion Valentino Rossi, since 2021. WRT's parent company, Weerts Group, services Skechers' European distribution center in Liège, Belgium.[25]

In 2022, the brand expanded into pickleball, signing several of the sport's top players and sponsoring the first nationally televised pickleball tournament in the U.S.[26] In August 2023, Skechers announced a move into soccer, with a new boot, the SKX 01 model, worn and promoted by England national football team player and top scorer Harry Kane.[27][28]

Sponsorships

Golf players

Football players

Basketball players

Show biz and TV

  • Italy Fabio Cannavaro
  • Italy Benedetta Parodi

Philanthropy

Skechers launched its Skechers Foundation in 2010. Skechers and the Friendship Foundation host an annual walk in Manhattan Beach to raise money for a nonprofit that helps connect special-needs students with their peers.[36][37]

Skechers donates new shoes to children in need worldwide through its Bobs charity program. The shoes support Head Start programs, education foundations, homeless shelters, disaster relief and 501(c)(3) organizations.[38] Bobs also support animal welfare groups including Petco Love and Woodgreen Pets Charity.[39]

Entertainment

Skechers has developed—with MoonScoop Group and animator/co-producer John Massé—an animated series, Zevo-3, and several direct-to-DVD features produced by SD Entertainment:[40]

  • Hydee and the Hytops: The Movie (2011)[40]
  • Twinkle Toes (2012)[41]
  • Twinkle Toes Lights Up New York (2016)[41]

References

  1. ↑ 1.0 1.1 "Form 10-K". 2023-02-28. https://investors.skechers.com/financial-data/all-sec-filings/content/0001564590-23-002740/0001564590-23-002740.pdf. 
  2. ↑ "Skechers Announces Third Quarter 2023 Financial Results and Record Quarterly Sales of $2.02 Billion". October 26, 2023. https://investors.skechers.com/press-releases/detail/603/skechers-announces-third-quarter-2023-financial-results-and. 
  3. ↑ Bettner, Jill (October 26, 1993). "Robert Greenberg, founder of L.A. Gear, has launched a company that's building sales from the popularity of trendy 'Doc' Martens". https://www.latimes.com/archives/la-xpm-1993-10-26-fi-49893-story.html. 
  4. ↑ Grant, Tina (February 14, 2000). International Directory of Company Histories. 31. Detroit, Michigan: St. James Press. ISBN 978-1-55862-390-3. http://www.fundinguniverse.com/company-histories/skechers-u-s-a-inc-history/. 
  5. ↑ Trivedi, Kruti (2000-07-18). "Trying a New Shoe on for Size; Can Owners of Skechers Learn From Their Mistakes?". The New York Times. ISSN 0362-4331. https://www.nytimes.com/2000/07/18/business/trying-a-new-shoe-on-for-size-can-owners-of-skechers-learn-from-their-mistakes.html. 
  6. ↑ Boren, Cindy (April 22, 2014). "Skechers beats Nike in Boston Marathon". The Washington Post. https://www.washingtonpost.com/news/early-lead/wp/2014/04/22/skechers-beats-nike-in-boston-marathon/. 
  7. ↑ "US Athletic Footwear Market Report". NPD Group. February 6, 2018. https://www.npd.com/wps/portal/npd/us/news/press-releases/2018/us-athletic-footwear-industry-sales-grew-2-percent-to-19-6-billion-in-2017-npd-group-reports/. 
  8. ↑ Goddiess, Samantha (Aug 22, 2022). "The 10 Largest Shoe Brands In The United States". https://www.zippia.com/advice/largest-shoe-brands/. 
  9. ↑ Carballo, Charlie (2019-01-14). "Skechers Plans to Grow Talent, Categories After Breaking Ground on Corporate Office Expansion". https://footwearnews.com/2019/business/power-players/skechers-headquarters-expansion-1202730201/. 
  10. ↑ Ciment, Shoshy (2023-06-05). "Lululemon and Skechers Join Fortune 500 List as Female CEOs Prove Staying Power". https://footwearnews.com/business/business-news/lululemon-skechers-fortune-500-female-ceo-list-1203473104/. 
  11. ↑ Dina Elboghdady (2012-05-16). "Skechers agrees to $40 million settlement for claims about shoes' benefits". The Washington Post. https://www.washingtonpost.com/business/economy/skechers-to-pay-40-million-to-settle-charges-over-unsupported-claims/2012/05/16/gIQA0MY0TU_story.html. 
  12. ↑ Kish, Matthew (October 4, 2019). "Nike again sues Skechers over alleged knockoff sneakers". https://www.bizjournals.com/portland/news/2019/10/04/nike-again-sues-skechers-over-alleged-knockoff.html. 
  13. ↑ Paton, Elizabeth; Gallois, Léontine; Breeden, Aurelien (2021-07-02). "Fashion Retailers Face Inquiry Over Suspected Ties to Forced Labor in China". The New York Times. ISSN 0362-4331. https://www.nytimes.com/2021/07/02/fashion/xinjiang-forced-labor-Zara-Uniqlo-Sketchers.html. 
  14. ↑ Henley, Jon (July 2, 2021). "France investigates fashion brands over forced Uyghur labour claims". The Guardian. https://www.theguardian.com/world/2021/jul/02/france-investigates-fashion-brands-over-forced-uyghur-labour-claims. 
  15. ↑ Chua, Jasmin Malik (2021-04-19). "Inditex, Uniqlo, Skechers Battle Forced Labor Allegations". https://sourcingjournal.com/topics/labor/uyghur-forced-labor-xinjiang-uniqlo-inditex-skechers-china-france-274959/. 
  16. ↑ Goist, Robin (2020-02-27). "Skechers partners with Goodyear Tire & Rubber Co. on line of sneakers". https://www.cleveland.com/business/2020/02/skechers-partners-with-goodyear-tire-rubber-co-on-line-of-sneakers.html. 
  17. ↑ Mack, Gordon (September 6, 2017). "Edward Cheserek Signs With Skechers". https://www.flotrack.org/articles/6001551-edward-cheserek-signs-with-skechers. 
  18. ↑ Hu, Zoe (2022-08-23). "Skechers signs Myleene Klass as brand ambassador". https://www.drapersonline.com/news/skechers-signs-myleene-klass-as-brand-ambassador. 
  19. ↑ "Skechers launches K-Pop idol Cha Eun-Woo as new regional brand ambassador". 2023-01-12. https://businessmirror.com.ph/2023/01/12/skechers-launches-k-pop-idol-cha-eun-woo-as-new-regional-brand-ambassador/. 
  20. ↑ 20.0 20.1 20.2 20.3 20.4 Garner, Stephen (2022-03-28). "Martha Stewart Lands Another Shoe Gig as a Skechers Ambassador". https://footwearnews.com/2022/business/marketing/martha-stewart-skechers-comfort-campaign-1203266575/. 
  21. ↑ Dutter, Greg (2021-06-08). "Skechers Signs German Soccer Legend to Endorsement Deal". https://footwearplusmagazine.com/news/skechers-signs-german-soccer-legend-to-endorsement-deal/. 
  22. ↑ "Marathon Superstar Reups His Partnership With Skechers". http://fortune.com/2016/02/08/skechers-meb-contract-extension/. 
  23. ↑ Bell, Jennie (2023-02-07). "Skechers & Snoop Dogg Get Sky-High in Super Bowl 2023 Ad". https://footwearnews.com/2023/business/marketing/skechers-snoop-dogg-super-bowl-2023-commercial-1203405039/. 
  24. ↑ Chochrek, Ella (2 March 2019). "Skechers Takes a Direct Hit at Nike's Shoe Explosion Incident With New Ad". https://footwearnews.com/2019/focus/athletic-outdoor/skechers-ad-shades-nike-zion-williamson-shoe-explosion-1202755335/. 
  25. ↑ Clay, Jennifer (17 March 2022). "Skechers Expands Sponsorship With Team WRT in Second Year of High-Speed Deal" (Press release). Los Angeles: Skechers USA, Inc. Business Wire. Retrieved 2023-06-27.
  26. ↑ Chen, I-Chun (Aug 9, 2022). "Skechers sponsoring nationally televised professional pickleball tournament". https://www.bizjournals.com/losangeles/news/2022/08/09/skechers-sponsors-pro-pickleball-tournament.html. 
  27. ↑ "Skechers Launch Football Boots". FootballBoots. 17 August 2023. https://www.footballboots.co.uk/skechers.html. 
  28. ↑ 28.0 28.1 "Bayern Munich star Harry Kane announces new Skechers boot deal and pair could be yours for eye-watering sum". August 17, 2023. https://talksport.com/football/1537050/harry-kane-boot-deal-eye-watering-price/. 
  29. ↑ 29.0 29.1 29.2 "2018 PGA Merchandise Show: Skechers golf show review". https://www.golfchannel.com/video/skechers-golf-shoes-worn-kuchar-bryan-henderson/. 
  30. ↑ "Skechers enjoys a 'win-win' at Solheim Cup". Sep 14, 2021. https://golfbusinessnews.com/news/sponsorship-and-events/skechers-enjoys-a-win-win-at-solheim-cup/. 
  31. ↑ 31.0 31.1 31.2 31.3 31.4 Horan, Christie (March 7, 2016). "Skechers Performance Signs Pro Golfers". https://fdra.org/latest-news/skechers-performance-signs-pro-golfers/. 
  32. ↑ "Matt Atkins Wins His First Web.com Victory at the El Bosque Mexico Championship". 2017-05-02. https://www.businesswire.com/news/home/20170502006032/en/Skechers-Performance%E2%84%A2-GO-GOLF%C2%AE-Elite-Athlete-Matt-Atkins-Wins-His-First-Web.com-Victory-at-the-El-Bosque-Mexico-Championship. 
  33. ↑ 33.0 33.1 33.2 33.3 "More Players Sign With Skechers". September 29, 2023. https://www.footyheadlines.com/2023/09/more-players-sign-with-skechers.html. 
  34. ↑ "No More Puma: Zinchenko to Join Skechers - Become the Skechers Razor Boots Ambassador??". October 28, 2023. https://www.footyheadlines.com/2023/10/zinchenko-to-join-skechers.html. 
  35. ↑ 35.0 35.1 Benson, Pat (October 25, 2023). "Skechers Makes Big Splash to Start NBA Season". https://www.si.com/fannation/sneakers/news/skechers-makes-big-splash-to-start-nba-season. 
  36. ↑ "About the Walk". http://www.skechersfriendshipwalk.com/site/PageServer?pagename=walk_aboutwalk. 
  37. ↑ "Skechers Pier to Pier Friendship Walk funds special student relationships". Daily Breeze. 2017-10-28. https://www.dailybreeze.com/2017/10/27/skechers-pier-to-pier-friendship-walk-funds-special-student-relationships/. 
  38. ↑ Polk, Andy. "BOBS From Skechers Footwear Donations Surpass 16 Million Pairs". https://fdra.org/latest-news/bobs-from-skechers-footwear-donations-surpass-16-million-pairs/. 
  39. ↑ Stabile, Angelica (2022-11-02). "BOBS from Skechers donates to North American animal shelters with every purchase". https://www.foxbusiness.com/lifestyle/bobs-skechers-donates-north-american-animal-shelters-purchase. 
  40. ↑ 40.0 40.1 Keslassy, Elsa (2010-04-20). "Skechers makes strides into film". https://variety.com/2010/biz/news/skechers-makes-strides-into-film-1118018007/. 
  41. ↑ 41.0 41.1 "Twinkle Toes Franchise Box Office History". https://www.the-numbers.com/movies/franchise/Twinkle-Toes. 



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