On October 25, the comfort technology company Skechers skechers (hereinafter referred to as "Skechers") once again announced a gratifying performance report: sales in the third quarter of 2024 were US$2.35 billion, a year-on-year increase of 15.9%; direct-to-consumer business (DTC business) sales increased by 9.6%. Notably, sales of $2.35 billion in the quarter set the latest quarterly sales record.
"Providing the right products at the right price" and "ensuring that consumers can buy the products they want through any channel" are considered to be the reasons for Skechers' performance growth in the third quarter. On this basis, Skechers is amplifying the product advantage of "comfort", covering "comfort" to more product categories and scenarios, and unleashing its potential in professional sports.
Achieve new quarter of global growth
"Strong consumer demand for Skechers across all distribution channels led us to a new quarterly sales record of $2.35 billion. Despite challenges in some markets, we achieved 21% Wholesale revenue growth and 10% dtc business growth, "skechers global chief operating officer david weinberg said in response to skechers' third quarter financial report.
The financial report shows that in the third quarter of 2024, Skechers’ global sales reached US$2.35 billion, a year-on-year increase of 15.9%; wholesale sales increased by 20.6%; direct-to-consumer business (dtc business) sales increased by 9.6%. In addition, Skechers' adjusted diluted earnings per share in the third quarter of 2024 was US$1.26, a year-on-year increase of 35.5%.
Looking at different regions, this comfort technology company has good market performance in the global market: the international market and the US domestic market grew by 16% and 15% respectively. Among them, Europe, the Middle East, and Africa grew by 30%, and all countries achieved double-digit growth; the Americas grew by 14%, especially in the United States and Canada, which had strong market performance; the Asia-Pacific region grew by 7%, of which Many countries achieved double-digit growth.
Skechers, which achieves global growth, relies on products that are popular with consumers around the world. Robert Greenberg, global CEO of Skechers, said: "Skechers' significant growth in the third quarter was driven by our ability to provide the right products at the right prices and ensure that consumers are satisfied whether they are in the DTC channel or the distribution channel. , you can buy the products you want.”
Skechers Global Chief Financial Officer John Vandemore said: “Skechers’ record-breaking performance in the third quarter highlights the strength of the brand’s global diversified layout and the market’s unique value to the brand. Proposed demand. We achieved impressive international sales growth while maintaining continued momentum in our domestic wholesale business. These results strengthen our confidence in reaching our sales target of $10 billion in 2026 and continuing growth thereafter. Looking to the future, Skechers will continue to invest in brand building, expand global influence, and meet the changing needs of consumers.
Create a full-scenario "comfortable" experience
According to Robert Greenberg, Skechers' product series. It provides partners and consumers with a unique value proposition - fashion, comfort, high quality, innovation and reasonable price. The combination of these characteristics makes Skechers stand out. Robert Greenberg believes that as more and more consumers regard Skechers' comfort functions as a necessity, it is still critical to adopt the brand's iconic comfort technology and novel designs in core products and new products, and to continuously introduce new products.
It is worth noting that the product feature of "comfort" is being applied by Skechers to more professional sports products. “At Skechers Sports Performance, we have a long history of delivering comfort in technical running shoes, golf shoes and have established a solid business in pickleball shoes.We are expanding into the field of team sports and launching Skechers products such as courts, basketballs, footballs and spike shoes globally. More and more Olympic athletes and top athletes are wearing Skechers professional sports shoes to participate in competitions. We believe that the brand has a strong role in technology. There is huge development potential in the performance business. "Robert Greenberg said.
At the same time, Skechers' hands-free slip-ins technology is helping to enhance the public's awareness of Skechers' comfort technology and has become a key product for Skechers' global growth." Cage’s hands-free slip-ins technology is critical to our global growth. Skechers achieves this through a marketing campaign focused on comfort technology and a strong lineup of brand ambassadors and athletes. "robert greenberg said.
Industry insiders pointed out that directly addressing the pain points of consumers' demand for "convenience and comfort" is the core of Skechers' design concept, and slip-ins flash-through technology represents Skechers' emphasis on shoe styles and styles. The ultimate research on wearing experience.
As Skechers’ “specialty” technology, slip-ins technology has been applied to more and more product categories by Skechers to satisfy consumers of all ages indoors. Convenient shoe needs in different scenarios such as commuting, going out, and outdoors, such as Skechers' classic flash-on panda shoes, flash-on running shoes, flash-on walking shoes and other products that meet high-intensity exercise or long-term walking.
Deeply explore the Chinese market full of potential.
Jiang Han, a senior researcher at Pangu Think Tank, analyzed that in recent years, consumer demand or trends for sports and leisure shoes and clothing are mainly reflected in the pursuit of both comfort and functionality, and fashion and personalization have become important considerations. In response to these needs, Skechers has always focused on the comfort and functionality of its products, constantly developing new technologies and materials to improve the wearing experience and performance of its products. At the same time, Skechers has a rich product line covering a variety of styles and styles. Colors and patterns can meet the personalized needs of different consumers.
continues to achieve growth in the global market with the core performance of comfort. It is understood that Skechers will further use "comfort" to deepen the Chinese market. Since the model entered the Chinese market, Skechers has achieved rapid development. It has opened more than 3,500 offline stores in mainland China and developed online sales on multiple e-commerce platforms.
In July 2024, Skechers Asia Pacific. The largest brand flagship store opened in Chengdu, Skechers' strategic upgrade in China has taken another step forward. In this flagship store, Skechers combines the concept of "comfortable sports" with the "Bashi" characteristics of Chengdu to create a brand new brand. "Bashi Arena", "Bashi Fashion Arena", "Bashi Flash Laboratory", "Bashi Youth Arena" and other offline leisure shopping spaces integrating multiple scenes
In addition, from November 5 to 10, 2024, Skechers will bring its slip-ins flash technology to the 7th China International Import Expo, presenting the innovative application of Skechers' iconic comfort technology in different styles of products, and showing consumers a positive and professional brand image. Commitment to the Chinese market.
Industry insiders said that Skechers' products combine the characteristics of fashion, comfort and leisure, and are a brand that is very in line with the modern lifestyle of Chinese people. At the same time, as an international brand, Skechers meets the needs of consumers who pay attention to both quality and cost-effectiveness. Skechers still has great growth potential in the Chinese market.
Looking to the future, david weinberg pointed out that as partners and consumers continue to increase their awareness and acceptance of brand comfort technology products, Skechers will increase investment in improving operational capabilities and continue to improve consumer experience. Meet the growing global demand for branded products and prepare for current and future profitable growth. On October 25, the comfort technology company Skechers skechers (hereinafter referred to as "Skechers") once again announced a gratifying performance report: sales in the third quarter of 2024 were US$2.35 billion, a year-on-year increase of 15.9%; direct-to-consumer business (DTC business) sales increased by 9.6%. Notably, sales of $2.35 billion in the quarter set the latest quarterly sales record. "Providing the right products at the right price" and "ensuring that consumers can buy the products they want through any channel" are considered to be the reasons for Skechers' performance growth in the third quarter. On this basis, Skechers is amplifying the product advantage of "comfort", covering "comfort" to more product categories and scenarios, and unleashing its potential in professional sports. Achieve new quarter of global growth "Strong consumer demand for Skechers across all distribution channels led us to a new quarterly sales record of $2.35 billion. Despite challenges in some markets, we achieved 21% Wholesale revenue growth and 10% dtc business growth, "skechers global chief operating officer david weinberg said in response to skechers' third quarter financial report. The financial report shows that in the third quarter of 2024, Skechers’ global sales reached US$2.35 billion, a year-on-year increase of 15.9%; wholesale sales increased by 20.6%; direct-to-consumer business (dtc business) sales increased by 9.6%. In addition, Skechers' adjusted diluted earnings per share in the third quarter of 2024 was US$1.26, a year-on-year increase of 35.5%. Looking at different regions, this comfort technology company has good market performance in the global market: the international market and the US domestic market grew by 16% and 15% respectively. Among them, Europe, the Middle East, and Africa grew by 30%, and all countries achieved double-digit growth; the Americas grew by 14%, especially in the United States and Canada, which had strong market performance; the Asia-Pacific region grew by 7%, of which Many countries achieved double-digit growth. Skechers, which achieves global growth, relies on products that are popular with consumers around the world. Robert Greenberg, global CEO of Skechers, said: "Skechers' significant growth in the third quarter was driven by our ability to provide the right products at the right prices and ensure that consumers are satisfied whether they are in the DTC channel or the distribution channel. , you can buy the products you want.” Skechers Global Chief Financial Officer John Vandemore said: “Skechers’ record-breaking performance in the third quarter highlights the strength of the brand’s global diversified layout and the market’s unique value to the brand. Proposed demand. We achieved impressive international sales growth while maintaining continued momentum in our domestic wholesale business. These results strengthen our confidence in reaching our sales target of $10 billion in 2026 and continuing growth thereafter. Looking to the future, Skechers will continue to invest in brand building, expand global influence, and meet the changing needs of consumers. Create a full-scenario "comfortable" experience According to Robert Greenberg, Skechers' product series. It provides partners and consumers with a unique value proposition - fashion, comfort, high quality, innovation and reasonable price. The combination of these characteristics makes Skechers stand out. Robert Greenberg believes that as more and more consumers regard Skechers' comfort functions as a necessity, it is still critical to adopt the brand's iconic comfort technology and novel designs in core products and new products, and to continuously introduce new products. It is worth noting that the product feature of "comfort" is being applied by Skechers to more professional sports products. “At Skechers Sports Performance, we have a long history of delivering comfort in technical running shoes, golf shoes and have established a solid business in pickleball shoes.We are expanding into the field of team sports and launching Skechers products such as courts, basketballs, footballs and spike shoes globally. More and more Olympic athletes and top athletes are wearing Skechers professional sports shoes to participate in competitions. We believe that the brand has a strong role in technology. There is huge development potential in the performance business. "Robert Greenberg said. At the same time, Skechers' hands-free slip-ins technology is helping to enhance the public's awareness of Skechers' comfort technology and has become a key product for Skechers' global growth." Cage’s hands-free slip-ins technology is critical to our global growth. Skechers achieves this through a marketing campaign focused on comfort technology and a strong lineup of brand ambassadors and athletes. "robert greenberg said. Industry insiders pointed out that directly addressing the pain points of consumers' demand for "convenience and comfort" is the core of Skechers' design concept, and slip-ins flash-through technology represents Skechers' emphasis on shoe styles and styles. The ultimate research on wearing experience. As Skechers’ “specialty” technology, slip-ins technology has been applied to more and more product categories by Skechers to satisfy consumers of all ages indoors. Convenient shoe needs in different scenarios such as commuting, going out, and outdoors, such as Skechers' classic flash-on panda shoes, flash-on running shoes, flash-on walking shoes and other products that meet high-intensity exercise or long-term walking. Deeply explore the Chinese market full of potential. Jiang Han, a senior researcher at Pangu Think Tank, analyzed that in recent years, consumer demand or trends for sports and leisure shoes and clothing are mainly reflected in the pursuit of both comfort and functionality, and fashion and personalization have become important considerations. In response to these needs, Skechers has always focused on the comfort and functionality of its products, constantly developing new technologies and materials to improve the wearing experience and performance of its products. At the same time, Skechers has a rich product line covering a variety of styles and styles. Colors and patterns can meet the personalized needs of different consumers. continues to achieve growth in the global market with the core performance of comfort. It is understood that Skechers will further use "comfort" to deepen the Chinese market. Since the model entered the Chinese market, Skechers has achieved rapid development. It has opened more than 3,500 offline stores in mainland China and developed online sales on multiple e-commerce platforms. In July 2024, Skechers Asia Pacific. The largest brand flagship store opened in Chengdu, Skechers' strategic upgrade in China has taken another step forward. In this flagship store, Skechers combines the concept of "comfortable sports" with the "Bashi" characteristics of Chengdu to create a brand new brand. "Bashi Arena", "Bashi Fashion Arena", "Bashi Flash Laboratory", "Bashi Youth Arena" and other offline leisure shopping spaces integrating multiple scenes In addition, from November 5 to 10, 2024, Skechers will bring its slip-ins flash technology to the 7th China International Import Expo, presenting the innovative application of Skechers' iconic comfort technology in different styles of products, and showing consumers a positive and professional brand image. Commitment to the Chinese market. Industry insiders said that Skechers' products combine the characteristics of fashion, comfort and leisure, and are a brand that is very in line with the modern lifestyle of Chinese people. At the same time, as an international brand, Skechers meets the needs of consumers who pay attention to both quality and cost-effectiveness. Skechers still has great growth potential in the Chinese market. Looking to the future, david weinberg pointed out that as partners and consumers continue to increase their awareness and acceptance of brand comfort technology products, Skechers will increase investment in improving operational capabilities and continue to improve consumer experience. Meet the growing global demand for branded products and prepare for current and future profitable growth.
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