Skechers

Skechers USA, Inc
Public
Traded as NYSE: SKX (Class A)
S&P 400 Component
Founded 1992 (1992)
Founder Robert Greenberg
Headquarters Manhattan Beach, California, U.S.
Number of locations
 More than 2,715 [1]
Key people
 Robert Greenberg
(Co-founder, CEO)
Michael Greenberg
(Co-founder, president)
Products Footwear, Apparel
Revenue Increase US$ 4.16 billion (FY 2017)[2]
Increase US$ 179.19 million (FY 2017)[2]
Number of employees
 11,800 (Jan 2017)[2]
Website skechers.com
Skechers Elite Flex shoe
Skechers headquarters in Manhattan Beach
Skechers, which operates in more than 160 countries, has grown in revenue from its international wholesale business.

Skechers USA Inc. is an American lifestyle and performance footwear company. Headquartered in Manhattan Beach, California, the brand was founded in 1992.[1] Now the third largest athletic footwear brand in the United States,[3] Skechers earned more than $4.16 billion in revenues during the 2017 fiscal year. As of January 2018, the company employed more than 11,800 people worldwide.[2]

History

Skechers was founded 1992. Skechers' early products were utility-style boots and skate shoes; the company has since diversified to include athletic and casual styles for men, women, and children,[4] as well as performance shoes.[1][5]

Products and advertising

The company offers two footwear categories: a lifestyle division that includes Skechers Memory Foam, the charity line BOBS and Relaxed Fit comfort shoes, and a performance division that includes Skechers GOrun and Skechers GOwalk footwear. Through licensing agreements, the company offers branded bags, watches, eyewear and additional merchandise.[1]

Skechers uses celebrity-driven advertising,[6] and has promoted its products with celebrities including recording artist Camila Cabello,[7] TV personality Brooke Burke-Charvet,[8] model and actress Kelly Brook,[9] former baseball player David Ortiz,[10] and football players Tony Romo and Howie Long.[11][12] The Skechers Performance Division has featured elite runner Meb Keflezighi,[13] and pro golfers Matt Kuchar, Brooke Henderson, and Wesley Bryan,[1][14] In 2014, Skechers signed an endorsement deal with musician Ringo Starr.[15][16]

Causes

Skechers launched its SKECHERS Foundation in 2010. Skechers and the Friendship Foundation host an annual walk to raise money for a nonprofit that helps connect special-needs students with their peers.[17][18]

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 ads.[19]

References

  1. 1 2 3 4 5 "SKECHERS Corporate Information". skx.com. Retrieved 2 January 2018.
  2. 1 2 3 4 "Skechers form 10-K, fiscal year ending December 31, 2017".
  3. ↑ "US Athletic Footwear Market Report". NPD Group. February 6, 2018.
  4. ↑ "History of Skechers U.S.A. Inc". fundinguniverse.com. Retrieved 11 September 2015.
  5. ↑ Shah, Alap. "Is Skechers Management Guidance Too Conservative?". Forbes. Retrieved 2018-07-13.
  6. ↑ "Stock: Skechers U.S.A. (SKX)". wikinvest.com. Retrieved 11 September 2015.
  7. ↑ Robin, Marci. "Camila Cabello Is Launching a Havana-Inspired Makeup Collection With L'Oréal". Allure. Retrieved 2018-07-13.
  8. ↑ "Brooke Burke-Charvet 'D'Lites' a Fan in New Skechers Spot". Retrieved 2018-07-13.
  9. ↑ "Kelly Brook turns up charm for Irish fans as she launches Skechers range". The Irish Sun. 2017-10-05. Retrieved 2018-07-13.
  10. ↑ "Big Papi Goes To Bat For Skechers". Retrieved 2018-07-13.
  11. ↑ "NFL Star Tony Romo and Wife Approve These Skechers Shoes That'll Get You Through Airport Security". Retrieved 2018-07-13.
  12. ↑ "How Did Skechers Afford That Super Bowl Buy?". Retrieved 2018-07-13.
  13. ↑ "Marathon Superstar Reups His Partnership With Skechers". Fortune. Retrieved 2018-07-13.
  14. ↑ "2018 PGA Merchandise Show: Skechers golf show review". Golf Channel. Retrieved 2018-07-13.
  15. ↑ "Skechers signs Ringo Starr".
  16. ↑ "Ringo Starr to Star in 2015 Skechers Ads". Billboard. Retrieved 2018-07-13.
  17. ↑ "SKECHERS Friendship Walk".
  18. ↑ "Skechers Pier to Pier Friendship Walk funds special student relationships". Daily Breeze. 2017-10-28. Retrieved 2018-07-13.
  19. ↑ Dina Elboghdady (2012-05-16). "Skechers agrees to $40 million settlement for claims about shoes' benefits". The Washington Post. Retrieved 2012-05-30.
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