Skechers U.S.A., Inc.

Who owns Skechers?
Skechers is majority-owned by 3G Capital, the private equity firm that acquired the company in 2025 in a deal valuing Skechers at approximately $9.4 billion. Robert Greenberg, who founded Skechers in 1992, retained a significant stake and continues as CEO.

Who founded Skechers?
Skechers was founded in 1992 in Manhattan Beach, California by Robert Greenberg, who had previously founded L.A. Gear. Greenberg launched Skechers with a focus on utility boots before expanding into comfort and lifestyle footwear.

How big is Skechers?
Skechers is the third-largest footwear company in the world by revenue. The company generated record annual sales of $8.97 billion in 2024 and operates more than 5,000 retail locations worldwide in more than 180 countries.

What is Skechers known for?
Skechers is known for its comfort-focused footwear, particularly its Arch Fit (podiatrist-certified arch support), Hands Free Slip-ins (hands-free slip-on design), and Max Cushioning technology lines. The brand appeals to a broad demographic including children, adults, seniors, athletes, and workers.

Is Skechers publicly traded?
No. Skechers was publicly traded on NYSE under ticker SKX until 2025, when it was acquired by private equity firm 3G Capital. The company is now privately held.

Where are Skechers shoes made?
Skechers shoes are primarily manufactured in China, Vietnam, and India through third-party manufacturing partners. The company does not own its own manufacturing facilities.

Skechers was founded in 1992 in Manhattan Beach, California by Robert Greenberg, who had previously founded L.A. Gear, a popular athletic footwear brand of the 1980s. Greenberg launched Skechers with a focus on utility boots, which were popular in the early 1990s. The company's name was inspired by a slang term for a restless, young person.

Skechers quickly expanded beyond utility boots into casual and lifestyle footwear, developing a broad product range that appealed to children, teenagers, and adults. The company went public on NYSE in 1999 under ticker SKX, raising capital to fund its expansion.

Skechers gained significant market share in the 2000s through its focus on comfort and casual footwear, differentiating from Nike and Adidas by targeting consumers who prioritized comfort over athletic performance. The company's Shape-ups toning shoes became a major commercial success in 2009 and 2010, though the product line later faced controversy regarding marketing claims.

Skechers paid $40 million to settle Federal Trade Commission charges in 2012 that it had made unsubstantiated claims about the health benefits of its Shape-ups and other toning shoes. The settlement was one of the largest in FTC history at the time.

Despite the Shape-ups controversy, Skechers continued to grow strongly through the 2010s, driven by its core comfort footwear lines and international expansion. The company became the third-largest footwear company in the world by revenue, surpassing New Balance, ASICS, and other established brands.

Skechers introduced its Arch Fit technology in 2021, which became one of the company's most successful product lines. The Hands Free Slip-ins technology, introduced in 2022, also became a major commercial success, appealing to consumers seeking convenient, easy-to-wear footwear.

For full-year 2024, Skechers reported record annual sales of $8.97 billion. In Q1 2025, the company reported record net sales of $2.41 billion, a 7.1% increase from the prior year.

In May 2025, Skechers announced it would be acquired by 3G Capital, the Brazilian-American private equity firm known for its investments in consumer brands including Anheuser-Busch InBev, Kraft Heinz, and Restaurant Brands International. The deal valued Skechers at approximately $9.4 billion. Robert Greenberg and the Greenberg family retained a stake in the company.

Skechers paid $40 million in 2012 to settle FTC charges that it had made unsubstantiated claims about the health benefits of its Shape-ups toning shoes, including claims that the shoes could help wearers lose weight and strengthen muscles. The settlement was one of the largest in FTC history at the time.

The 3G Capital acquisition generated discussion about whether private equity ownership would affect Skechers' culture, product development, and employee relations. 3G Capital is known for its cost-cutting approach at portfolio companies, which has generated controversy at some of its other investments.