Skechers announces new operations in the Philippines
Manila, Philippines – (COMMERCIAL THREAD) – Skechers, The Comfort Technology Company â¢, today announced that it has transferred its operations in the Philippines from a third-party distributor to Skechers USA Philippines, Inc. to maximize the brand’s growth prospects in the region .
âThe Philippines has immense potential for Skechers, and with our dedicated team focused on growing and delivering the integrated capabilities of Skechers, we believe this step accelerates that potential,â said David Weinberg, COO of Skechers USA, Inc. “With Skechers” engaging lifestyle collections, revolutionary comfort innovations and our business support, we believe the Philippines can become a key market for us in South East Asia. ”
âSkechers is a global brand that many Filipino consumers already know and love. With this new dedicated approach, we will be able to reach over 100 million men, women and children in this country and offer them a wider selection of quality Skechers products through expanded channels â, added Suzette Pasustento, Country Manager for Skechers USA Philippines. âWe are currently in the first phase of re-establishing the brand in the market: setting up new offices in Manila, setting up a distribution center, and we opened our first new store this month. In 2022, we will introduce new product categories, open more outlets and expand our number of doors with new retailers, as well as launch a comprehensive marketing campaign.
Known for their comfort, style, quality and innovations, a full line of the brand’s lifestyle and performance footwear and apparel will be available at Skechers retail stores, including the recently opened location in the downtown Alabang and another in Ayala Malls Manila Bay scheduled to open. this week. Another 10 to 12 additional concept stores are planned for the first half of 2022. The Skechers will also be available in department stores and specialty stores, including Planet Sports and The SM Store.
Former Skechers distributor in the Philippines, Trendworks International, will continue to sell Skechers products until the end of 2021.
About Skechers USA Philippines, Inc. and Skechers USA, Inc.
Skechers USA Philippines, Inc. is operated by Skechers USA, Inc. (NYSE: SKX), The Comfort Technology Company based in Southern California. Skechers designs, develops and markets a diverse line of lifestyle and performance footwear, apparel and accessories for men, women and children. The Company’s collections are available in the United States and in more than 170 countries and territories through department and specialty stores, and direct to consumers through 4,170 company-owned and corporate-owned retail and e-commerce sites. third. The Company manages its international operations through a network of global distributors, joint venture partners in Asia, Israel and Mexico and wholly owned subsidiaries in Canada, Japan, India, Europe and America. Latin. For more information, visit about.skechers.com and follow us on Facebook, Instagram, Twitter, and TikTok.
This announcement contains forward-looking statements which are made in accordance with the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. . These forward-looking statements may include, without limitation, the future domestic and international growth of Skechers, its financial results and operations, including expected sales and net profits, its development of new products, future demand for its products, its planned national and international expansion, new store opening and additional spending, as well as advertising and marketing initiatives. Forward-looking statements can be identified by the use of forward-looking language such as “believe”, “anticipate”, “expect”, “estimate”, “intend”, “plan”, “project” , âWillâ, âwill continueâ, âwill resultâ, âcouldâ, âcouldâ, âcouldâ or any variation of these words having similar meanings. Such statements are subject to risks and uncertainties which could cause actual results to differ materially from those projected in forward-looking statements. Factors that could cause or contribute to such differences include business and operations disruption due to the COVID-19 pandemic; international economic, political and market conditions, including difficult retail markets in the United States; maintain, manage and forecast costs and appropriate inventory levels; losing important customers; decreased demand from industry retailers and cancellation of order commitments due to the lack of popularity of particular designs and / or product categories; maintain branding and intense competition among sellers of consumer footwear, especially in the highly competitive market for performance footwear; anticipate, identify, interpret or forecast changes in fashion trends, consumer demand for the products and the various market factors described above; sales levels during the spring, back-to-school and holiday sales periods; and other factors referenced or incorporated by reference in Skechers’ annual report on Form 10-K for the year ended December 31, 2020 and its quarterly report on Form 10-Q for the three months ended September 30, 2021 Specifically, the COVID -19 pandemic has had and is currently having a significant impact on Skechers’ business, financial conditions, cash flow and results of operations. Forward-looking statements regarding the COVID-19 pandemic include, without limitation, Skechers plans in response to this pandemic. At present, there is significant uncertainty regarding the COVID-19 pandemic, including, but not limited to, (i) the duration and extent of the impact of the pandemic, (ii) the responses government officials to the pandemic, including how those responses may impact Skechers. activities and operations, as well as the operations of its factories and other business partners, (iii) the effectiveness of Skechers actions taken in response to these risks, and (iv) Skechers’ ability to effectively and timely adjust its plans in response to the rapidly changing business and economic environment. Given these and other risk factors associated with the COVID-19 pandemic, the dynamic nature of these circumstances means that what is stated in this press release could change at any time and, therefore, the actual results. could differ materially from those envisaged. by such forward-looking statements. The risks included here are not exhaustive. Skechers operates in a very competitive and rapidly changing environment. New risks emerge from time to time and we cannot predict all of these risk factors, nor assess the impact of all of these risk factors on our business or the extent to which any factor, or a combination of factors, may cause a substantial difference from the actual results. those contained in forward-looking statements. In view of these risks and uncertainties, you should not place undue reliance on forward-looking statements as a prediction of actual results. In addition, reported results should not be taken as an indication of future performance.