Skechers

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Skechers USA Inc.
Public
Traded as NYSESKX (Class A)
S&P 400 Component
Founded 1992; 26 years ago (1992)
Founder Robert Greenberg
Headquarters Manhattan Beach, California, U.S.
Number of locations
More than 2,400 [1]
Key people
Robert Greenberg
(Co-founder, CEO)
Michael Greenberg
(Co-founder, Chairman)
Products Footwear, Apparel
Revenue Increase US$ 3.56 billion (FY 2016)[2]
Increase US$ 243.4 million (FY 2016)[2]
Number of employees
9,800 (Jan 2017)[2]
Website skechers.com
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 for men, women and children. Headquartered in Manhattan Beach, California, the brand was founded in 1992.[2] Now the second largest athletic footwear brand in the United States,[3] Skechers earned more than $3.56 billion in revenues during the 2016 fiscal year. As of January 2017, the company employed more than 9,800 people worldwide.[2]

History and products[edit]

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

Skechers makes an effort to maintain its brand image by using celebrity-driven advertising,[5] and has promoted its product with multi-platinum recording artist Camila Cabello, TV personality Brooke Burke-Charvet, model, actress Kelly Brook, boxer Sugar Ray Leonard, former baseball player David Ortiz, and football legends Tony Romo and Howie Long. The Skechers Performance Division features Olympic runners Meb Keflezighi and Kara Goucher, plus pro golfers Matt Kuchar, Brooke Henderson, Belén Mozo, Russell Knox, Wesley Bryan, Colin Montgomerie and Billy Andrade.[1] In 2014, Skechers signed an endorsement deal with legendary musician Ringo Starr.[6] South Korean boyband EXO, girl group Red Velvet (band) , rapper Zico & girl group Sistar have also endorsed the brand.

The company offers two distinct 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. Skechers also produces sport and performance apparel for men and women. Through licensing agreements, the company offers branded bags, watches, eyewear and additional merchandise. Skechers has an extensive network of global distributors that sell its product in over 160 countries and territories, and more than 2,400 Skechers stores around the world.[1]

Causes[edit]

Founded in 2010, the SKECHERS Foundation, in partnership with Nickelodeon and The Friendship Foundation, annually hosts their SKECHERS Pier to Pier Friendship Walk. The SKECHERS Foundation has the goal of investing in organizations dedicated to assisting children with special needs, improving education and empowering disadvantaged youths.[7]

Litigation[edit]

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.[8]

References[edit]

  1. ^ a b c d "SKECHERS Corporate Information". skx.com. Retrieved 2 January 2018. 
  2. ^ a b c d e SKECHERS U.S.A., INC. Form-10K, Securities and Exchange Commission, March 1, 2017
  3. ^ "Skechers Strides Into Second Place in U.S. Sports Footwear Market". The Wall Street Journal. May 18, 2015. 
  4. ^ "History of Skechers U.S.A. Inc." fundinguniverse.com. Retrieved 11 September 2015. 
  5. ^ "Stock: Skechers U.S.A. (SKX)". wikinvest.com. Retrieved 11 September 2015. 
  6. ^ "Skechers signs Ringo Starr". 
  7. ^ "SKECHERS Friendship Walk". 
  8. ^ Dina Elboghdady (2012-05-16). "Skechers agrees to $40 million settlement for claims about shoes' benefits". The Washington Post. Retrieved 2012-05-30. 

External links[edit]