Sketchers USA, INC. manufactures, sells, and markets more than 3,000 footwear in two distinct categories, lifestyle, and performance. These products are manufactured for men, women, and children in more than 170 countries across the globe. Skechers acquires over 11,800 employees. They operate in more than 2,990 company and third-party retail stores worldwide. Their distribution center is located in Rancho Belago, California. The company imports its footwear from China, and Vietnam. Skechers also sells their products through their website for people that do not want to leave the comfort of their homes.
The primary operating region is in the United States, and their luxurious headquarters is in Manhattan Beach, California.
Their sales had an upturn of 27%. In 2016 sales were documented at 764.3 million, and in 2017 they were documented at $970.6 million. Earnings increased from $28.3 million to $55 million. These jumps are sporadic which portrays great competitive strategy, and efficiency.
People who typically buy Skechers like comfort as well as performance, they use memory foam in most of their shoes to apply great comfort.
They make a lot of shoes that are known as relaxed fit which helps its lifestyle line of shoes. These shoes are more casual and are good for everyday life.
Skechers was founded by Robert Greenberg in 1992. The idea was initially made for Dr. Martens, it was originated in California, the only style available was a logger boot. Skechers gained popularity at a fast rate. Soon the company began to endorse celebrities, and have exceptional advertisements. Ringo Starr modeled for Skechers, he was a famous drummer for the Beatles.
Sugar Ray Leonard was a successful professional boxer, and he was endorsed by Skechers as well. This represents how much the company grew throughout the years, it used to be a company for boots, and it expanded to become something greater by making sneakers for men, women, and children. The memory foam sneakers is what people look for in Skechers which applies comfort to the consumer’s feet. Now athletes like David Ortiz, and Tony Romo are sponsored by Skechers.
Skechers was in acquisition talks with V.F Corporation, they make Vans and Timberland shoes. The company wanted to buy Skechers in January of 2019, but never did. The quisition price had aan enterprise value of $40 per share.
Skechers now has a whole day dedicated to them when people hashtag on social media, #WorldSkechersDay. This is a time when people can share their favorite Skechers on social media, their following is exceptional since they do not need just celebrities to endorse their products, they have also managed to have the everyday person to promote their products as well which has showed great loyalty throughout the years.
Walmart excels in Sketchers’ strategic group in total sales and stores. They have the upper hand in the tangible goods side since they have the most stores. In the shoe industry Skechers is in the middle tier, they are not as dominant as Nike with a huge market cap, many employees, and high earnings. Although, they are more successful than Crocs who seems to have a lower target market than Skechers.
Skechers has been in involved in Super Bowl commercials, this year Tony Romo was the star that said, ‘I like to make life easy’ (adage.com). He sits on a chair and launches tennis balls to his dog while it shows him relaxing. He goes on to say how he wears Skechers slip ons because they are effortless since one just has to slip them on without laces. The commercial finishes with Romo saying, ‘Skechers slip ons, for those who like things easy’ (adage.com). With the shoe industry being so competitive with brands like allbirds making an impact in the industry it is important for the larger companies with brand loyalty to have marketing schemes like these.
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