SKECHERS EXPANDS IN SOUTHEAST ASIA WITHLICENSING DEAL
MANHATTANBEACH, Calif. – August 15, 2011 – SKECHERS USA, Inc. (NYSE:SKX), a global leader in the footwear industry and the number two footwear brand in the United States,* today announced that it has signed a licensing agreement with The Licensing Management Group (LMG) to develop the brand across Southeast Asia.
Under the multi-year agreement, LMG will present a wide range of strategic opportunities to leverage the brand’s prominence as a multi-faceted lifestyle brand for men, women and children across Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.
“SKECHERS’ iconic lifestyle image now impacts consumers in every continent except Antarctica – a level of brand recognition so pervasive that building our name in new arenas is a natural next step,” said Michael Greenberg, president of SKECHERS. “LMG has many decades of success in the retail, licensing and brand extension business, and they’re experts at developing environments that help brands take on a life of their own – an asset that we believe can have tremendous impact in a region where consumers are known for their devotion to brand identity.”
“Working with a team as successful and entrepreneurial as SKECHERS will be incredibly stimulating,” added LMG partner Terry Hauss. “SKECHERS is one of the only companies to turn footwear into a complete lifestyle concept – and is very focused on the direction of their company. We are honored to be a part of this rapid growth that SKECHERS is achieving as the brand ventures into new categories throughout Southeast Asia.”
SKECHERS has grown in prominence as a brand desired across Asia, with a network of more than 120 successful retail stores established in Southeast Asia as well as China, Hong Kong, Taiwan, Japan and South Korea. The agreement is designed to add dimension to the brand and further establish SKECHERS’ strong regional business, a key step in its strategy to evolve into a multi-faceted lifestyle destination for trend-right apparel, goods and accessories.
Marvin Bernstein, managing partner for SKECHERS, S.à.r.l., added: “We’re excited to develop our licensing network around the globe and set the stage for a new chapter of our brand: one with ambitious regional specialists, a global team of expert ambassadors, and a dynamic message that connects with billions.”
In addition to LMG, SKECHERS’ current global licensee network includes a worldwide partnership with Viva International Group for eyewear; a multi-year partnership with Li & Fung’s LF USA for SKECHERS Fitness apparel and accessories in the United States; and a wide range of international partnerships, including apparel in China, South Korea, Israel and India; bags in Panama; and watches in the Philippines. SKECHERS also has licensing agreements for kids’ apparel, socks, watches, bags, luggage and medical scrubs, among others, and is continuing to seek new opportunities to bring the SKECHERS brand to new product segments around the globe.
About SKECHERS USA, Inc.
SKECHERS USA, Inc., based in Manhattan Beach, California, designs, develops and markets a diverse range of footwear for men, women and children under the SKECHERS name, as well as under several uniquely branded names. SKECHERS footwear is available in the United States via department and specialty stores, Company-owned SKECHERS retail stores and its e-commerce website, as well as in over 100 countries and territories through the Company’s global network of distributors and subsidiaries in Canada, Brazil, Chile, and across Europe, as well as through joint ventures in Asia. For more information, please visit www.skechers.com.
About The Licensing Management Group (LMG)
Renowned for their sterling record in international business development, the LMG team has well over 50 years of experience in the retail, licensing and brand extension business across a wide range of lifestyle brands. The company’s extensive client history includes Candie’s, Rampage, DC Comics, Lamborghini, Warner Bros. Consumer Products and Sony Consumer Products, as well as numerous high-profile children’s brands such as Looney Tunes, Cartoon Network, Harry Potter and Nickelodeon.
