Footwear Company Triples its Retail Presence in Five Years and
Launches its Largest Store
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)–
Skechers
USA, Inc. (NYSE:SKX), a global footwear leader, announced that the
Company has surpassed 3,000 Skechers retail stores worldwide with the
opening of a store in Shenyang, China – now the brand’s largest. The
latest milestone reflects the growing omni-channel presence of the brand
as the Company continues to expand its retail, sales and logistic
infrastructure to meet the global market’s growing demands for Skechers
footwear.
Skechers crosses the 3,000-retail-store milestone with the Company’s largest in the world – a 32,100-square-foot superstore in Shenyang, China. (Photo: Business Wire)
Skechers crosses the 3,000-retail-store milestone with the Company’s largest in the world – a 32,100-square-foot superstore in Shenyang, China. (Photo: Business Wire)
At more than 32,000 square feet, the Skechers superstore in Shenyang
joins a network of similar superstores in North America designed to
showcase the brand’s diverse footwear styles for men, women and children
with dedicated shop-in-shops for its collections, Skechers Kids
entertainment zones, and areas devoted to the brand’s growing line of
apparel and accessories.
“Skechers is a brand for the world,” said Michael Greenberg, president
of Skechers. “Our product is stylish, affordable, comfortable for every
age – and it’s resonating with billions of consumers, thanks to our
retail presence and growing investment in areas like China. We sell in
more than 170 countries through our extensive network of distributors
and joint ventures, and we have many more opportunities to build our
retail store business even further and expand our global presence for
years to come.”
A living catalog for consumers, Skechers stores are a customer
experience showcasing an unparalleled offering of Skechers product
outside of the Company’s e-commerce solutions. Its stores are prominent
brand-, marketing- and sales-drivers – stylized in the Company’s iconic
steel and blue décor, designed with the latest point-of-sale
technologies, and inviting shoppers to explore the world of Skechers.
Since opening its 1,000th store in 2014, the Company’s retail
store presence has accelerated to reflect its business’ international
growth – surpassing 2,000 stores in 2016 and reaching its newest
milestone with the Company’s 3,000th destination opening in
China. With a population of more than 1.4 billion, China has the largest
number of Skechers retail stores at 941, followed by the United States
at 472, and India at 222.
To date, there are 690 Company-owned stores, including two opened in the
United States in the first quarter – with the remainder as
third-party-owned international retail locations such as the
recently-opened stores in China, Finland, India, Israel, Netherlands,
Pakistan, Russia and Sri Lanka. The Company plans to open 70 to 80
Skechers Company-owned stores and another 500 additional
third-party-owned stores in 2019.
Skechers’ retail locations now cover six continents – from high-profile
concept stores at New York’s Times Square, Santa Monica Promenade,
London’s Covent Garden, Madrid, Lima, Tokyo, Shanghai and hundreds of
cities around the world, to superstores in Southern California, Las
Vegas, Dallas and Calgary, Canada.
About Skechers U.S.A., Inc.
Based in Manhattan Beach, California, Skechers designs, develops and
markets a diverse range of lifestyle footwear for men, women and
children, as well as performance footwear for men and women. Skechers
footwear is available in the United States and over 170 countries and
territories worldwide via department and specialty stores, more than
3,000 Skechers Company-owned and third-party-owned retail stores, and
the Company’s e-commerce websites. The Company manages its international
business through a network of global distributors, joint venture
partners in Asia and the Middle East, and wholly-owned subsidiaries in
Canada, Japan, India, throughout Europe and Latin America. For more
information, please visit about.skechers.com and follow us on Facebook,
Instagram, and Twitter.
This announcement contains forward-looking statements that are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements include,
without limitation, Skechers’ future domestic and international growth,
financial results and operations including expected net sales and
earnings, its development of new products, future demand for its
products, its planned domestic and international expansion, opening of
new stores and additional expenditures, and advertising and marketing
initiatives. Forward-looking statements can be identified by the use of
forward-looking language such as “believe,” “anticipate,” “expect,”
“estimate,” “intend,” “plan,” “project,” “will be,” “will continue,”
“will result,” “could,” “may,” “might,” or any variations of such words
with similar meanings. Any such statements are subject to risks and
uncertainties that could cause actual results to differ materially from
those projected in forward-looking statements. Factors that might cause
or contribute to such differences include international economic,
political and market conditions including the challenging consumer
retail markets in the United States; sustaining, managing and
forecasting costs and proper inventory levels; losing any significant
customers; decreased demand by industry retailers and cancellation of
order commitments due to the lack of popularity of particular designs
and/or categories of products; maintaining brand image and intense
competition among sellers of footwear for consumers, especially in the
highly competitive performance footwear market; anticipating,
identifying, interpreting or forecasting changes in fashion trends,
consumer demand for the products and the various market factors
described above; sales levels during the spring, back-to-school and
holiday selling seasons; and other factors referenced or incorporated by
reference in the Company’s annual report on Form 10-K for the year ended
December 31, 2017, and its quarterly report on Form 10-Q for the three
months ended September 30, 2018. The risks included here are not
exhaustive. Skechers operates in a very competitive and rapidly changing
environment. New risks emerge from time to time and the companies cannot
predict all such risk factors, nor can the companies assess the impact
of all such risk factors on their respective businesses or the extent to
which any factor, or combination of factors, may cause actual results to
differ materially from those contained in any forward-looking
statements. Given these risks and uncertainties, you should not place
undue reliance on forward-looking statements as a prediction of actual
results. Moreover, reported results should not be considered an
indication of future performance.
Jennifer Clay
[email protected]
(310)
937-1326
Source: Skechers U.S.A., Inc.