SKECHERS USA, Inc. (NYSE:SKX), a global leader in the lifestyle
and performance footwear industry, today announced that the Company
is transitioning its business in Central Eastern Europe (CEE) from
third-party distributors to a new wholly-owned subsidiary, Skechers
CEE, Kft.
SKECHERS plans to double its CEE sales in the next three to five
years through an expanded offering of men’s, women’s and kids’
product and a growing distribution base in new and existing markets
that includes department, specialty and SKECHERS retail stores.
“For nearly two decades, we’ve successfully marketed our product
to consumers in Central Eastern Europe through several
distributors, but in the last few years we have seen a growing
demand and increased potential for SKECHERS in the region,” began
Michael Greenberg, president of SKECHERS. “With the strength of our
diverse product worldwide, we believe the time is right to further
grow our brand – and that transitioning to a wholly-owned
subsidiary will allow us to leverage our capital, product,
logistics and business model to achieve this growth.”
Footwear industry veteran Petar Dulic has been appointed as the
new territory manager of Skechers CEE, Kft. Dulic previously served
as the general manager and partner of SKECHERS distributor Office
Shoes, launching the brand in 1997 and overseeing its business in
Serbia, Bosnia-Herzegovina, Montenegro, and other neighboring
countries. His experience includes the opening of more than 130
Office Shoes stores in 13 countries across the region, as well as
brand negotiation, real estate, retail, wholesale, marketing,
distribution and strategic planning for a wide range of
international brands.
“With the right infrastructure, expertise and unparalleled
marketing support, there is great opportunity to grow SKECHERS
across Eastern Europe,” said Dulic. “Our distribution partners
planted solid roots for SKECHERS’ growth in this region with the
opening of seven retail stores and a strong network of established
retailers. I look forward to building this new chapter for
SKECHERS, and continuing to work with these great partners
including my former company Office Shoes and the Croatian SKECHERS
distributor v.o.o.d.o.o.”
“For nearly 20 years, Petar (Dulic) has been a part of the
SKECHERS family – helping to establish and build our business in
Serbia and the surrounding countries, and later opening stores and
expanding the brand into more markets,” said Marvin Bernstein,
managing partner of SKECHERS S.à.r.l. “He understands our business
model, our diverse product range, and, importantly, the many
countries that comprise the new CEE subsidiary. With Petar at the
helm, we believe we can substantially build this region into an
impactful segment of our PanEuropean business.”
Skechers CEE, Kft. is comprised of Albania, Bosnia-Herzegovina,
Bulgaria, Croatia, the Czech Republic, Hungary, Kosovo, Macedonia,
Moldova, Montenegro, Romania, Serbia, Slovakia and Slovenia. The
Company plans to have its headquarters in Budapest and regional
showrooms in each country.
About SKECHERS USA, Inc.
SKECHERS USA, Inc. (NYSE:SKX), based in Manhattan Beach,
California, 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 via department and specialty stores,
Company-owned SKECHERS retail stores and its e-commerce website,
and in over 100 countries and territories through the Company’s
international network of 12 subsidiaries in Canada, Brazil, Chile,
Japan, and across Western and Central Eastern Europe, as well as
through joint ventures in Asia and distributors around the world.
For more information, please visit skechers.com, and follow us on
Facebook (facebook.com/SKECHERS) and Twitter
(twitter.com/SKECHERSUSA).
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, the Company’s future
growth, financial results and operations, its development of new
products, future demand for its products and growth opportunities,
its planned opening of new stores, advertising and marketing
initiatives, and the expansion and automation plans for the
Company’s European Distribution Center. 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, national and local general economic, political and
market conditions including the ongoing global economic slowdown
and market instability; entry into the highly competitive
performance footwear market; 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;
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, 2013, and its
Form 10-Q for the quarter ended September 30, 2014. The risks
included here are not exhaustive. The Company 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.
SKECHERS USA, Inc.Jennifer Clay, 310-937-1326
Skechers USA (NYSE:SKX)
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