Skechers

Rank#2008

Market Cap9.49B

CountryUnited States

Summary

Skechers U.S.A., Inc. designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women worldwide. The company operates through three segments: Domestic Wholesale, International Wholesale, and Direct-to-Consumer. It offers casual, casual athletic, sport athletic, trail, sandals, boots, and retro fashion footwear for men and women under the Skechers USA, Skechers Sport, Skechers Active, Modern Comfort, Skechers Street, Mark Nason, and BOBS brands; sneakers, casuals, boots, and sandals for boys and girls under the Skechers Mega-Craft, S-Lights, SKECH-AIR, Foamies, Twinkle Toes, Z-Strap, Skechers Stretch Fit, and Skechers Street brands; and technical footwear under the Skechers GOrun, Skechers GOwalk, Skechers GOtrain, Skechers GOtrail, and Skechers GO Golf brands. The company also provides men's and women's slip-resistant and safety-toe casuals, boots, hikers, and athletic shoes; and lifestyle apparel for men, women, and kids. As of December 31, 2021, it operated 4,306 company and third party owned Skechers stores. The company sells its products through department and specialty stores, athletic and independent retailers, boutiques, and online retailers; and through its e-commerce sites, concept stores, and factory and warehouse outlet stores. It also licenses its Skechers brand. Skechers U.S.A., Inc. was incorporated in 1992 and is headquartered in Manhattan Beach, California.

History

Skechers was founded in 1992 by Robert Greenberg, who had previously founded LA Gear in 1983 . Greenberg sought to focus on men's street shoes; Skechers' early products were utility-style boots popular in grunge fashion. The company quickly expanded to include women and children, with casual and athleisure styles, and went public in 1999. In 2011, Skechers launched its performance line for athletes and signed Meb Keflezighi as a spokesman.Skechers is the third largest footwear brand in the United States. In January 2019, the company started an expansion of its corporate headquarters to double its office, design and showroom space in the South Bay.

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. 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.

Forced labor investigation

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

Mission

Skechers is a global footwear and apparel brand with industry-leading growth and significant opportunity for continued worldwide expansion. The Company designs, develops and markets more than 3,000 lifestyle and athletic footwear styles for men, women and children. It sells its products in more than 170 countries across the globe through its established worldwide infrastructure and distribution capabilities.

Vision

Skechers is dedicated to inspiring people everywhere to be the best they can be. With an unwavering commitment to innovation, quality, and performance, we will continue to stay at the forefront of the global footwear industry.

References

https://en.wikipedia.org/wiki/Skechers

https://in.investing.com/equities/skechers-usa-inc

https://finance.yahoo.com/quote/SKX/profile?p=SKX

https://www.comparably.com/companies/skecher/mission

https://www.crunchbase.com/organization/skechers-u-s-a

https://sec.report/CIK/0001065837

https://companiesmarketcap.com/

https://www.skechers.com

Leadership team

Mr. Robert Y. Greenberg (Co-Founder, Chairman & CEO)

Mr. Michael Greenberg (Co-Founder, Pres & Director)