Skechers turns focus on Latin America after ‘incredible growth’
Footwear brand Skechers is upping its focus on Latin America and has bought its business there from a third-party distributor.
It plans to grow its operations and footprint in 20 countries, particularly Panama, Peru, Colombia and Costa Rica, by transitioning 21 stores to subsidiary-owned locations, looking at new retail locations and expanding its distribution base.
Chief operating officer David Weinberg said: “With the increased demand for our brand and incredible growth that SKECHERS has experienced over the last few years – including our international wholesale business, which has grown more than 60% in the second quarter of 2015 year over year – we see an opportunity to drive our Latin America business to the next level. We believe that we can use the strengths of our marketing, advertising, capital and infrastructure to significantly grow this key market, helping it reach its full potential.”
Based in Panama City, SKECHERS Latin America will oversee the Company’s business with regional showrooms in Panama, Peru, Colombia and Costa Rica. Additional regions under the new subsidiary include the Caribbean, Ecuador, Guatemala, El Salvador, Honduras and Nicaragua.
