Who Owns Skechers?

From its humble beginning to its meteoric rise in popularity, Sketchers is known for designing some of the best and most comfortable shoes in the world. However, it is equally important to understand who owns Skechers. We are going to cover the company’s background and history, along with its change in ownership over the years.

The company originally started as a very small business in California and quickly rose to fame throughout the globe, selling millions of shoes in multiple countries. The story of this impeccable brand is nothing short of inspirational entrepreneurial strive and success.

A US brand, Skechers is a footwear retail organization that was launched by Robert Greenberg in 1992. However, his son, Michael Greenberg, also contributed significantly to building the foundations of his father’s empire.

The company develops and markets over 3,000 different types of casual, formal, and athletic shoe designs, each built for performance and comfort and to accommodate different lifestyles. In addition, the company produces shoes for men, women, and children. Moreover, the organization also has several other sub-brands under its umbrella, such as Skechers USA, Sketchers Sport, and Skechers Performance.

A Comprehensive Peek Into the Interesting History of the Footwear Giant

To know who owns Skechers, it is important to blitz through its colorful history. Launched in 1992 as a small-scale footwear brand, the company, under the leadership of the brilliant entrepreneur Robert Greenberg, quickly propelled to success and recognition.

Greenberg, at the time, rose to fame by also launching L.A. Gear, which was a successful brand. Together with his dedicated and talented son, Micheal, the duo originally planned to launch Skechers as a powerful gateway for another UK-based footwear brand, Dr Martens, within the United States.

The father and son duo and their incredible foresight for emerging brands and a knack for creative marketing bought a string of trendsetting show brands such as Karl Kani and Cross Colors. This was before they launched Skechers. However, one day, they thought of stopping playing middleman to different brands and creating one of their own. 

This was when they discovered their true calling, creating a trendy and explosively popular line of quality shoes – Skechers. Just a year after the launch of Skechers, the Greenbergs were able to grab another claim to fame by introducing Chrome Dome, a sub-brand of Skechers.

Chrome Dome was created with a specific market niche at the time and was designed as unisex street shoes. They were whole-heartedly embraced and were looked at as the ideal footwear for a younger target demographic – specifically trendsetting individuals and hipsters. This was also when the grunge culture was at its utmost peak.

Changing tactics in 1993, brand leadership decided to emphasize their unique brand, letting go of the other brands they helped launch, specifically Karl Kani and Cross Colors, from their list of distributaries. However, this resulted in a fast closure of these footwear brands across the US, leading Skechers into a spiral of legal complications with Dr Martens.

This, in turn, led both brands to part ways, leaving Skechers to operate as an individual brand. However, when it comes to who owns Skechers, it is just as vital to understand that the brand was initially an ingenious marketing company accredited with launching highly cutting-edge and assertive branding strategies.

The Success of Chrome Dome

Thanks to the gradual success of Skecher’s sub-brand Chrome Dome, the company was able to quickly get back on its feet and trailblaze to immense success and popularity in the US. The company consistently launched innovative shoe designs and styles with the sole aim of accommodating casual and comfortable wearers.

In 1997, Skechers was able to grab a worldwide reputation, launching up to 2,200 accounts and 20 retail outlets in different parts of the world. Internationally, the brand operates in China, Romania, Brazil, and Mexico and has more than 900 different shoe varieties on offer.

Over the years, it has also launched other brands such as Skechers Go Walk, Cali, Tone Ups, Skechers Kids, Skechers Work, and many others. 

A Prominent Footwear Brand and Leader Across The World

Since its launch 32 years ago, Skechers has positioned itself as an influential and widely known leader of modern athletic and practical shoe designs. As a captain of industry, the brand has been magnificently embraced throughout the world and still to this day, is continuously praised for its ergonomic shoe designs and innovative trends.

In addition, the company is also known as a trend starter, often introducing very hip and new designs before their equally popular and successful competitors. Throughout the brand’s history, it has always managed to stay at the precipice of fame, continually proving why it is a market leader in modern lifestyle shoe designs.

Today, the trendy shoe company operates in over 170 destinations throughout the globe and operates over 4,000 flagship retail outlets in all those countries combined. In 2022 alone, Skechers had over 540 stores in the US. 

In addition, it is also safe to say that as a US-based company, the brand easily ranks in the top 5 footwear brands after Nike and Adidas North America. With more than 11,000 employees, Skechers makes more than $8 billion in annual revenue. 

A Glimpse Into the Mind of the Man Himself – Robert Greenberg

As the chief executive officer of Skechers, Robert Greenberg also had a majority stake in his company’s ownership. He along with his son, Michael, were the primary brains behind the successful launching of the brand over the decades.

In addition, when it comes to knowing who owns Skechers, you would also be interested to know that Robert Greenberg has been in the footwear industry for over four decades. Before launching the popular brand, Robert was the CEO and chairman of LA Gear. Throughout his time with LA Gear, Robert was able to transform the footwear industry completely in the US.

Skecher Ownership

Skechers is a publicly traded company (SKX). The ownership of Skechers company is a combination of institutional, retail, and individual investors. Institutional investors own approximately 53.64% of the company’s stock, insiders own 1.82%, and public companies and individual investors own 44.54%.

Bottom Line

In all, Skechers is among the top footwear brands in the world, rivaling Nike, Under Armour, Converse, and Adidas. With a powerful market reach in about 170 countries, Skechers continues to enamor its customers with innovative and highly comfortable shoes and trendsetting shoe designs.

With Robert Greenberg is still the CEO of the Skechers and has a 10% ownership stake in the brand he worked so hard to establish. Skechers has been able to utilize groundbreaking technology and innovative resources to continue to propel toward the future.

 References & more information

1. Forbes.com. Greenberg family.
2. Goddiess, S. (2023). The 10 Largest Shoe Brands In The United States.
3. MasterShoe.com.uk. The History of Skechers
4. MarketScreener.com. Skechers U.S.A., Inc.
5. Featured image by Ervan M Wirawan

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