In one of the year's biggest corporate transactions in the fashion industry, Skechers and 3G Capital have received all necessary regulatory approvals to complete their acquisition. The deal is set to finalize on September 12.
One of the world’s largest footwear company, Skechers announced its sale to the investment group 3G Capital back in May. The transaction is valued at approximately $9.4 billion, or $63 per share, and will result in the company being delisted from the stock market. Following the change in ownership, Skechers will continue to be led by its current executives, Robert Greenberg as CEO and Michael Greenberg as President.
In H1, FY25, Skechers reported a 10 per cent growth in sales to $4.851 billion, compared to the same period in 2024. The company’s gross profit also increased by 8 per cent to $2.555 billion, though the company’s profitability declined slightly. Its gross margin for the period contracted by 52.7 per cent as against 53.7 per cent in the previous year.
Regionally, the Americas remain Skechers’ largest market, with sales rising by 4.6 per cent to $2.217 billion. However, the company’s sales in Europe, the Middle East, and Africa increased by 29.4 per cent to $1.449 billion. In Asia, Skechers had its slowest growth, with sales increasing by 1.4 per cent to $1.184 billion.
