Skechers striding to top of running shoe market

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  • Skechers is booming in the lifestyle market and is going after the biggest names in the business

    While Skechers often ranks as the third largest footwear brand behind Nike and adidas, it doesn’t get the same kind of recognition it deserves in the sports market.

    Founded in 1992 by Robert Greenberg, the American brand is one of the most popular footwear companies in the world, amassing billions of dollars in revenue each year.

    From 2012 to 2017, the company’s shares produced a total return of 836 per cent, outperforming the likes of Nike and adidas. And despite facing higher costs in 2018, the company met its expectations as they continue to grow.

    “We met our expectations in 2018. We’re growing quite rapidly but our mindset is always on the next one. We definitely reached the level we wanted to reach,” said Skechers Managing Partner Marvin Bernstein.

    “As far as categories are concerned, the whole GoWalk category is expanding with GoWalk 5.

    “The GoRun category is also expanding with different products and washables. We are starting to make athletic product with wool uppers.

    “We have a big rush for 90s with our old classic shoes like D’Lites and Stamina. We are doing more collaborations with One Piece and others.”

    Skechers sold 12 million pairs of shoes in the Gulf alone last year, with the UAE an ever-growing market. It is developing even faster in Africa, Pakistan and India.

    “Dubai and the UAE is already a huge market for us, and more importantly it’s not over,” he said.

    “There’s a footwear brand to build and also an apparel line, so it’s just getting started here.”

    Running is at the forefront of Skechers popularity in the sports market, with thousands of athletes across the world sporting their comfortable and finely-balanced shoes.

    One of the men at the helm of Skechers rise is Meb Keflezighi. The 42-year-old, who has been an ambassador of the brand since 2011, secured the footwear company’s position as a serious player in the world with his victory at the 2014 Boston Marathon.

    It was his blistering win in Boston five years ago in a pair of Skechers GOmeb Speed 3s that helped cement Skechers’s position as a superpower in the sportswear sphere.

    “We win countless awards on our running product and we do sponsor and are involved in LA Marathon, Houston Marathon and Boston Marathon,” Bernstein said.

    “We see running as getting bigger and getting more commercial, spreading out more. Based on how the brand is built, we can stretch into anything.”

    Keflezighi’s performances in the shoe is just one of many examples of the effectiveness of the runner. And no matter what start line you stand on across the globe these days, it is guaranteed you will see an athlete wearing a pair of Skechers.

    Bernstein added: “It proves to the pro athlete how good the shoe is, which they are. It images the company more as a technical running brand.”

    As it stands, Skechers business model is clear and effective and they continue to be among the leading footwear giants on the market. But, with its fast growth, it’s going to take continuous hardwork and positive attitude from Bernstein and his team to maintain its concrete position at the top.

    “There are more and more people getting involved in the international business. It’s 56 per cent of the company and growing. It’s the biggest piece. I’m involving more and more people. It’s getting bigger as we grow. We believe we can grow as big as we want,” Bernstein added.

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