Skechers

Skechers U.S.A., Inc.
Public
Traded as NYSE: SKX
Founded 1992 (1992)
Founder Robert Greenberg
Headquarters Manhattan Beach, California, U.S.
Number of locations
 503 (company-owned worldwide)[1]
Key people
 Robert Greenberg
(Co-founder, CEO)
Michael Greenberg
(Co-founder, Chairman)
Products Footwear, Apparel
Revenue Increase US$ 3.147 billion (FY 2015)[2]
Increase US$ 231.9 million (FY 2015)[2]
Number of employees
 9,200 (Jan 2016)[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 in West Edmonton Mall.

Skechers 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 billion in revenues during the 2015 fiscal year. As of January 2016, the company employed more than 9,200 people worldwide.[2]

History and products

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.[5]

Skechers makes an effort to maintain its brand image by using celebrity-driven advertising,[1] and has promoted its product with multi-platinum recording artist Meghan Trainor, TV personality Brooke Burke-Charvet, model, actress Kelly Brook and South Korean boyband EXO & Girl Group Sistar, boxer Sugar Ray Leonard and former football player Howie Long, as well as Olympic runners Meb Keflezighi and Kara Goucher, and pro golfers Matt Kuchar, Belén Mozo, Colin Montgomerie and Billy Andrade for the Skechers Performance Division.[5]

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 1,710 Skechers stores around the world.[5]

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.[6]

References

  1. 1 2 "Stock: Skechers U.S.A. (SKX)". wikinvest.com. Retrieved 11 September 2015.
  2. 1 2 3 4 5 SKECHERS U.S.A., INC. Form-10K, Securities and Exchange Commission, February 26, 2016
  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. 1 2 3 "SKECHERS Corporate Information". skx.com. Retrieved 15 June 2016.
  6. ↑ 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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