Once upon a time, in sunny California, father-son duo Robert and Michael Greenberg founded a humble company named Skechers in 1992. Little did they know, their brand would end up on the feet of Samsung’s billionaire Chairman Lee Jae-yong and Premier League superstar Harry Kane!
While the brand’s age pales in comparison to shoe giants like Nike, Adidas, New Balance, and Puma, Skechers has been sprinting ahead over the past 30 years. From a small start-up in Manhattan Beach, they now have a global footprint, with over 5,000 stores in more than 180 countries, raking in sales of a whopping $8 billion last year!
Skechers made a name for itself in the 1990s with the “Chrome Dome,” a chunky, worn-in style shoe that perfectly catered to the ‘grunge look’ craze among teens. In 2009, they hit another home run with the women’s body-sculpting “Shape Ups”. Advertised as the perfect workout for the waist, buttocks, and calf muscles, these sneakers became a hot commodity until a false advertising lawsuit in 2012 took the wind out of their sales.
But Skechers didn’t let a stumble keep them down. They bounced back with their ‘Go’ series, which quickly became a favorite of Chairman Lee Jae-yong and are praised for their cost-effectiveness. Greenberg looked back on the rocky journey, saying, “The Shape Ups lawsuit was horrific. Most would have given up, but I didn’t. I decided to change course by backing up, and it worked.”
Skechers scored another big win in 2020 when they signed a lifetime contract with Harry Kane, the Premier League’s top scorer. His stellar performances have sparked a surge of interest in Skechers football shoes. Now, sports enthusiasts are comparing Skechers’ winning streak to Nike’s partnership with basketball legend Michael Jordan, suggesting that Skechers might just sneak up on the industry’s heavyweights!
