Skechers USA, Inc. (NYSE: SKX), one of the global leaders in the lifestyle footwear industry, today announced that it has signed a deal with Winner Sports Pvt. Ltd. – a wholly-owned subsidiary of Pantaloon Retail India Ltd. – to license and distribute Skechers footwear and apparel in India.
“We’re very excited to grow Skechers in India, a mega-market filled with mega potential,” says Michael Greenberg, president of Skechers. “Our partnership with Winner Sports will be a key factor in reaching that potential, and we believe India will contribute to international growth and positively impact our business in the next two to three years.”
Over the last three years, Skechers has solidified the brand in some of the largest markets around the world by launching a subsidiary in Brazil and establishing a successful joint venture in China. Along with current distribution in Indonesia and the Company’s powerhouse brand status in the United States, the India deal will elevate Skechers as a footwear leader in the top five most populated countries and around the world.
“Skechers is the perfect brand for India,” said Ravdeep Singh, CEO of Winner Sports. “Indian consumers desire fashionable product at an attractive price and Skechers meets both of those demands. We look forward to leveraging our lifestyle and retail experience to make the brand a great success here.”
Winner Sports will launch Skechers in India in November with select styles from Skechers men’s and women’s lines. Skechers Kids will be added to the collection in 2010. Additionally, licensed apparel will be produced within India and is expected to debut in Spring 2010.