Skechers

Skechers USA, Inc. is a North American lifestyle and performance footwear company. Headquartered in Manhattan Beach, California, the brand was founded in 1992 and is now the third largest athletic footwear brand in the United States.[3][4]

For the song, see Skechers (song).
Skechers USA, Inc.
Public
Traded asNYSE: SKX (Class A)
S&P 400 Component
Industryclothing industry 
Founded1992 (1992)
FounderRobert Greenberg
Headquarters
Manhattan Beach, California
,
U.S.
Number of locations
More than 3,550
Key people
Robert Greenberg
(Founder & CEO)
Michael Greenberg
(Co-Founder & President)
ProductsFootwear, apparel
Revenue US$5.22 billion (FY 2019)
US$518.4 million (FY 2019)
US$346.6 million (FY 2019)
Total assets US$4.89 billion (FY 2019)
Number of employees
12,600 (Jan 2019)
Websiteskechers.com
Footnotes / references
[1][2][3]
Skechers headquarters in Manhattan Beach
A Skechers store in Star City, Hong Kong.

History

Skechers was founded in 1992 by Robert Greenberg, who had previously founded L.A. Gear in 1978 (he stepped down as CEO of that company the same year he founded Skechers).[5][6][7] Greenberg sought to focus on the casual footwear market. Skechers' early products were utility-style boots and skate shoes.[7] The company has since diversified to include athletic and casual styles for men, women, and children,[8] as well as performance shoes.[3]

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.[3]

Skechers uses celebrity-driven advertising,[9] and has promoted its products with celebrities including recording artists Demi Lovato[10] and Camila Cabello,[11] baseball players Clayton Kershaw,[12] David Ortiz,[13] and football players Tony Romo and Howie Long.[14][15] The Skechers Performance Division has featured elite runner Meb Keflezighi,[16] and pro golfers Matt Kuchar, Brooke Henderson, and Wesley Bryan.[3][17] In 2014, Skechers signed an endorsement deal with musician Ringo Starr.[18][19]

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.[20]

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.[21][22]

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.[23]

Movies
  • Twinkle Toes (2012)
  • Hydee and the Hytops: The Movie (2012)
  • Twinkle Toes Lights Up New York (2016)
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References
  1. "Skechers Financial Results, Year ending December 31, 2019".
  2. Skechers U.S.A., Inc. Form 10-K for 2018 Annual Report. U.S. Securities and Exchange Commission (Report). Retrieved September 27, 2019.
  3. "Skechers Investors Site". Investors.skx.com. Retrieved 14 February 2019.
  4. "US Athletic Footwear Market Report". NPD Group. February 6, 2018.
  5. Lazzareschi, Carla (January 27, 1992). "L.A. Gear CEO Greenberg Says He'll Step Down : Management: The co-founder of athletic shoe manufacturer will be replaced by Stanley P. Gold". latimes.com. Los Angeles Times. Retrieved January 14, 2020.
  6. "A Brief History of Skechers Shoes". SRI Shoe Warehouse. Retrieved 2019-08-07.
  7. "History of Skechers - Express Trainers". www.expresstrainers.com. Retrieved 2019-08-07.
  8. "History of Skechers U.S.A. Inc". Fundinguniverse.com. Retrieved 11 September 2015.
  9. "Stock: Skechers U.S.A. (SKX)". Wikinvest.com. Retrieved 11 September 2015.
  10. "Demi Lovato - SKECHERS The Source". Blog.skechers.com. Retrieved 28 March 2019.
  11. Robin, Marci. "Camila Cabello Is Launching a Havana-Inspired Makeup Collection With L'Oréal". Allure.com. Retrieved 2018-07-13.
  12. "Skechers Signs Clayton Kershaw".
  13. "Big Papi Goes To Bat For Skechers". Retrieved 2018-07-13.
  14. "NFL Star Tony Romo and Wife Approve These Skechers Shoes That'll Get You Through Airport Security". Retrieved 2018-07-13.
  15. "How Did Skechers Afford That Super Bowl Buy?". Retrieved 2018-07-13.
  16. "Marathon Superstar Reups His Partnership With Skechers". Fortune.com. Retrieved 2018-07-13.
  17. "2018 PGA Merchandise Show: Skechers golf show review". Golf Channel. Retrieved 2018-07-13.
  18. "Skechers signs Ringo Starr". Blog.skechers.com.
  19. "Ringo Starr to Star in 2015 Skechers Ads". Billboard.com. Retrieved 2018-07-13.
  20. Chochrek, Ella; Chochrek, Ella (2 March 2019). "Skechers Takes a Direct Hit at Nike's Shoe Explosion Incident With New Ad". Footwearnews.com. Retrieved 28 March 2019.
  21. "SKECHERS Friendship Walk". Skechersfriendshipwalk.com.
  22. "Skechers Pier to Pier Friendship Walk funds special student relationships". Daily Breeze. 2017-10-28. Retrieved 2018-07-13.
  23. 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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