New Buildings Cement Footwear Company’s
Commitment to Global Growth Adding more than 175,000 Square Feet of
Office, Design and Showroom Space
Footwear industry leader Skechers USA, Inc. (NYSE:SKX) on Friday
celebrated a new era and commitment to global growth and its
hometown community by breaking ground on an expansion of the
Skechers Corporate Headquarters that will span several adjacent
buildings in Manhattan Beach and Hermosa Beach, California. The
project will more than double the Company’s office, design and
showroom space in the South Bay, bringing it to just over 330,000
square feet.
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Skechers breaks ground on Skechers
Corporate Headquarters expansion that will more than double design,
office and showroom space in adjacent buildings in Manhattan Beach
and Hermosa Beach, California. Shown from left: Chief Operating
Officer David Weinberg, Chief Financial Officer John Vandemore,
Senior Vice President of Real Estate and Construction Peter Mow,
Skechers President Michael Greenberg, and Vice President of
Commercial Development Tim Ball. (Photo: Business Wire)
“We started Skechers in a Manhattan Beach condominium in 1992,
and now we’re a global brand with annual sales of over $4 billion
in 2017,” began Michael Greenberg, president of Skechers. “Through
our years of incredible growth, we’ve called the South Bay home, so
to be able to expand our headquarters where this Company was born,
is important to who we are. This community inspires all that we do,
and we share it with visiting customers from around the globe who
shop and eat locally and fall in love with our beaches.”
“It’s been a challenge to meet the needs of our growing business
with our existing space,” added David Weinberg, Skechers Chief
Operating Officer. “This investment in our corporate headquarters
allows us to better plan for the future and increase efficiencies.
It will allow us to consolidate our teams, give us room to grow,
and enhance our work, design, meeting and showroom space.”
At the centerpiece will be a more than 100,000-square-foot
Design Center as well as neighboring Executive Offices on Pacific
Coast Highway in Hermosa Beach. Additionally, there will be an
expansion to the existing building at 330 South Sepulveda Boulevard
and a new office across the street in Manhattan Beach.
All buildings are being developed with sustainability in mind to
achieve LEED Gold certification upon completion. Earth-friendly
features will include solar panels, daylight harvesting and
motion-controlled lighting, high-performance glass, R30 insulation,
and Forest Stewardship-certified wood. Additionally, landscaping
will utilize drought-tolerant bio-filtration planters with
low-water use plumbing and irrigation. And Skechers will continue
its ongoing commitment to reduce waste at every level across the
entire corporate headquarters—from recycling services to
eco-friendly kitchen materials.
“As a fast moving, forward-thinking brand, it’s essential for
Skechers to expand our office space to stay ahead of the curve,”
said Robert Greenberg, Skechers Chief Executive Officer. “We have
always focused on meeting the needs of consumers around the world,
growing our business significantly including more than doubling our
annual sales in four years, but we also believe there are numerous
opportunities to strategically expand our business. The new
Skechers Corporate Headquarters will give us the much-needed space
to achieve this. And with completion anticipated for 2022, this
beautiful new headquarters will mark the celebration of our 30th
anniversary.”
A component of the project will be a beautification of the
corridor that had become in disrepair due to the closing of several
businesses. This will include a “Welcome to Hermosa Beach” sign at
Longfellow Avenue and Pacific Coast Highway that will be designed
by a local artist as well as the undergrounding of utilities plus
improvements to benches, sidewalks and bus stops. The buildings
will be designed with increased setbacks and landscaping.
Additionally, the project includes subterranean on-site parking for
all Skechers employees.
The new Skechers Corporate Headquarters has been designed by
architect David Forbes Hibbert, founder of DFH Architects, an
independent, award-winning architecture firm with over twenty years
experience. The firm also designed and developed the original
Skechers Corporate Headquarters building at 330 South Sepulveda
Boulevard as well as notable projects like Universal Music
Headquarters in Santa Monica and the k2LA Apartments in
Koreatown.
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, 2,802 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, 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.
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Jennifer ClaySKECHERS USA, Inc.jennc@skechers.com
Skechers USA (NYSE:SKX)
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