Skechers is set to go private through an acquisition by 3G Capital, as the company hopes that a new partnership will pave the way for its long-term growth. The investment firm has agreed to purchase the footwear giant for $9.5 billion, effectively taking it off the public market. This move comes amidst ongoing tariff concerns within the footwear industry, adding to the uncertainty surrounding international sales and imports.
Skechers, founded in 1992 by Robert and Michael Greenberg, will remain under the leadership of the Greenbergs as CEO and president post-acquisition. The deal with 3G Capital, known for its involvement in companies like Burger King and Tim Hortons, is expected to close in the third quarter of this year. Despite the potential challenges posed by tariffs on products manufactured in countries like China and India, which currently face high duties, both parties express confidence in the partnership and its ability to drive Skechers forward.
The company reported a record $9 billion in sales in 2024, with a significant portion of its revenue generated from international markets across 180 countries. 3G Capital’s co-managing partners, Alex Behring and Daniel Schwartz, have expressed their excitement about working with Skechers and are looking forward to supporting the company’s future growth.
This article, titled “Skechers Prepares to Transition to Private Ownership Amid Tariff Uncertainty, Anticipates New Partnership to Support Long-Term Growth,” was first published on Benzinga.com© 2025 Benzinga.com. Benzinga does not offer investment advice. All rights reserved.
