Skechers transitions to company-owned operations in the Philippines
American footwear brand Skechers USA, Inc. has announced that it has transitioned from its third-party distributor model in the Philippines and has set up Skechers USA Philippines, Inc. a subsidiary through which it will manage its operations in the country in order to maximize its growth prospects on the market.
According to Suzette Pasustento, country manager for Skechers USA Philippines, the Skechers brand is currently in the process of reestablishing itself in the Southeast Asian country. Having set up new offices in Manila and a new distribution center, the company opened its first new store in December, in Manila's Alabang Town Center, and plans to open another in Ayala Malls Manila Bay before the end of the year.
Over the course of the first half of 2022, the company is intending to open a further 10 to 12 concept stores, with plans to introduce new product categories and launch a new marketing campaign also in the works.
As well as its own stores, Skechers products will be available in a number of major department stores and specialty retailers in the Philippines, such as Planet Sports and The SM Store.
The brand’s former Filipino distributor, Trendworks International, will continue to sell Skechers goods through the end of 2021.
“The Philippines has immense potential for Skechers, and with our dedicated team focused on growth and delivering the integrated capabilities of Skechers, we believe this step accelerates that potential,” said Skechers USA, Inc. COO David Weinberg in a release. “With Skechers’ appealing lifestyle collections, groundbreaking comfort innovations and our corporate support, we believe the Philippines can become a key market for us in Southeast Asia.”
Skechers products are currently available in more than 170 countries and territories around the world, through 4,170 company and third-party-owned stores and e-commerce platforms, as well as via department stores and specialty retailers.
The company reported sales of $1.55 billion in the third quarter of 2021, up 19.2% compared to $1.30 billion in the same period in the previous year. Net earnings for the quarter were $103.1 million.
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