Skechers Enters the Metaverse
March 10 2022 - 8:50AM
Business Wire
The Global Lifestyle Brand Will Open an
Experiential Store in Decentraland’s Fashion District
Skechers announced that it is entering the metaverse. The global
lifestyle brand is the first to sign a lease in the Fashion
District of Decentraland. The Company also recently filed trademark
applications throughout the world to sell virtual goods such as
footwear and apparel—setting the foundation for new growth
opportunities in the metaverse.
“Our Decentraland agreement is an investment in our future,”
said Michael Greenberg, president of Skechers. “We look forward to
embarking on this virtual era, and exploring creative ways for our
brand to engage with new customers and audiences as we launch the
new Skechers experience.”
A global designer, developer and marketer of lifestyle footwear,
apparel and accessories, Skechers’ multiplatform campaigns connect
billions of consumers to its latest styles and comfort
technologies—from fashion trends to performance innovations, work
shoes, charity collections, children’s styles and more. The Company
surpassed $6.29 billion in 2021 revenues, and plans to reach $10
billion in annual sales by 2026.
About SKECHERS USA, Inc.
Skechers USA, Inc. (NYSE:SKX), The Comfort Technology Company™
based in Southern California, designs, develops and markets a
diverse range of lifestyle and performance footwear, apparel and
accessories for men, women and children. The Company’s collections
are available in the United States and over 180 countries and
territories via department and specialty stores, and direct to
consumers through 4,306 Company and third-party-owned retail stores
and e-commerce websites. The Company manages its international
business through a network of global distributors, joint venture
partners in Asia, Israel and Mexico, and wholly-owned subsidiaries
in Canada, Japan, India, Europe and Latin America. For more
information, please visit about.skechers.com and follow us on
Facebook, Instagram, Twitter, and TikTok.
This announcement contains forward-looking statements that are
made pursuant to the safe harbor provisions of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These forward-looking
statements may 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 the disruption of business and
operations due to the COVID-19 pandemic; delays or disruptions in
our supply chain; 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 Skechers’ annual report on Form 10-K
for the year ended December 31, 2021. More specifically, the
COVID-19 pandemic has had and is currently having a significant
impact on Skechers’ business, financial conditions, cash flow and
results of operations. Forward-looking statements with respect to
the COVID-19 pandemic include, without limitation, Skechers’ plans
in response to this pandemic. At this time, there is significant
uncertainty about the COVID-19 pandemic, including without
limitation, (i) the duration and extent of the impact of the
pandemic, (ii) governmental responses to the pandemic, including
how such responses could impact Skechers’ business and operations,
as well as the operations of its factories and other business
partners, (iii) the effectiveness of Skechers’ actions taken in
response to these risks, and (iv) Skechers’ ability to effectively
and timely adjust its plans in response to the rapidly changing
retail and economic environment. Taking these and other risk
factors associated with the COVID-19 pandemic into consideration,
the dynamic nature of these circumstances means that what is stated
in this press release could change at any time, and as a result,
actual results could differ materially from those contemplated by
such forward-looking statements. 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 we
cannot predict all such risk factors, nor can we assess the impact
of all such risk factors on our business 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.
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Jennifer Clay Skechers USA, Inc. jennc@skechers.com
Skechers USA (NYSE:SKX)
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