Skechers. As a kid growing up I’m willing to bet that you owned at least one pair of Skechers, I know I did. My parents couldn’t always buy me Nike or Jordans or adidas, so I had to settle for some Skechers. I ain’t gonna lie though, I thought they were pretty clean back in the day. Fast forward to 2015, and you’re probably asking, “Does Skechers still exist?”
Well the answer is yes! And they are a lot more popular and profitable than you can even imagine. According to investment firm Morgan Stanley, Skechers hit record sales of $2.4 billion in 2014 and also doubled their share price in the past year alone. This leads Morgan Stanley to believe that Skechers could position itself behind Nike as #2 in sneaker royalty. Wow! I bet you didn’t know that.
Some reasons behind their sudden surge include Skechers now focusing on their own look instead of creating cheap knockoffs of designer shoes.
“The Skechers brand has evolved from a knock-off brand, to more one with its own looks and styles,” Morgan Stanley’s analysts write.
Upgrading their factories and distribution centers along with an improved marketing strategy also played a big part.
So it looks like Skechers is on the rise. Will they be catching up to Nike though? I really doubt that, but kudos to Skechers for #winning.