Skechers announced a deal that will see the footwear brand acquired by the private equity firm 3G Capital. Details, which the companies released May 5, specify that Skechers will go private when the transaction is completed.
Skechers ranks No. 274 in the Top 2000. The database is Digital Commerce 360’s ranking of the largest North American e-retailers by online sales. There, Digital Commerce 360 categorizes Skechers as an Apparel & Accessories retailer. Digital Commerce 360 projects that Skechers online sales will reach $329.13 million in 2025.
Skechers web sales by year
Skechers’ deal to be acquired by 3G Capital
3G Capital plans to pay $63.00 per share in cash in its offer to acquire Skechers, the apparel retailer shared. The price would be 30% more than Skechers’ 15-day volume-weighted average stock price.
“Over the last three decades, Skechers has experienced tremendous growth,” said Robert Greenberg, the retailer’s chairman and chief executive officer. “Our success has been due to our commitment to excellence and innovation across the entire Skechers organization, in-demand comfort-focused product offering, and loyal partners.”
Greenberg is expected to remain in place at Skechers for the time being. Michael Greenberg, its president, and David Weinberg, its chief operating officer, will stay on as well. In his public statement, Greenberg voiced confidence in Skechers’ new owners.
“With a proven track-record, Skechers is entering its next chapter in partnership with the global investment firm 3G Capital,” he stated. “Given their remarkable history of facilitating the success of some of the most iconic global consumer businesses, we believe this partnership will support our talented team as they execute their expertise to meet the needs of our consumers and customers while enabling the Company’s long-term growth.”
Plans for Skechers after the acquisition
“We are thrilled to be partnering with Skechers and look forward to working with an entrepreneur of Robert’s caliber and the talented Skechers team,” stated Alex Behring, co-founder and co-managing partner, and Daniel Schwartz, co-managing partner, at 3G Capital, in Skechers’ press release. “Skechers is an iconic, founder-led brand with a track record of creativity and innovation.”
The private equity firm expects to pursue current strategic initiatives, including international growth, direct-to-consumer expansion, domestic wholesale growth and other objectives. Previously, Skechers updated its ecommerce platform with Salesforce to enable growth across various international markets.
“We have immense admiration for the business that this team has built, and look forward to supporting the Company’s next chapter,” Behring and Schwartz said. “Our team at 3G Capital is built to partner with companies like Skechers.”
Skechers’ board of directors already approved the acquisition unanimously, and the company expects the deal to close in Q3 of 2025.
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