In a groundbreaking move that’s shaking up the global sneaker market, Skechers USA Inc. has announced plans to go private in a $9.42 billion deal, marking the largest buyout in sneaker industry history.
The iconic American footwear brand is set to be acquired by a consortium of private equity firms led by Apollo Global Management and Silver Lake Partners, according to sources close to the matter. The deal will allow Skechers to exit public markets and focus on long-term growth strategies away from shareholder pressures.
This monumental decision could signal a new era in the athletic footwear sector, where private ownership may become a growing trend among large brands looking to innovate freely and scale rapidly.
Why Skechers Is Going Private
Skechers has long been one of the most profitable yet underrated players in the global sneaker business. With strong revenue numbers, international expansion, and increasing digital sales, the company has remained a top-5 footwear brand globally.
However, despite its growth, Skechers has struggled to capture the market spotlight like Nike or Adidas. Industry analysts believe that going private will free Skechers from quarterly earnings pressure, enabling it to invest more boldly in marketing, R&D, and international retail expansion.
According to a statement by Skechers CEO Robert Greenberg:
“This decision reflects our commitment to long-term brand building. Being private will allow us to grow faster, make smarter bets, and better serve our loyal global customers.”
Details of the $9.42 Billion Buyout
The deal values Skechers at $68 per share, representing a 30% premium over its current trading price. The transaction will be fully financed through a mix of equity and debt, with Apollo and Silver Lake contributing the majority of the capital.
The transaction is expected to close in Q4 of 2025, pending shareholder approval and regulatory clearance.
Skechers currently operates in over 170 countries, and has seen record growth in Asia and Latin America over the past three years. With a stronghold in casual and lifestyle footwear, Skechers reported nearly $8 billion in annual revenue in 2024.
Implications for the Sneaker Market
This buyout is being hailed as the largest-ever private transaction in sneaker history, beating out previous deals like VF Corp’s acquisition of Supreme.
The deal has broad implications:
- Competition: It may pressure rivals like Puma, New Balance, and Under Armour to rethink their strategies.
- Innovation: Skechers may become more aggressive in adopting smart tech and sustainable materials.
- Retail Expansion: Freed from Wall Street expectations, Skechers might open more flagship stores and enter untapped markets.
Experts believe this could spark a new wave of private equity interest in the fashion and athletic sectors.
Investor and Market Reactions
Following the announcement, Skechers shares surged nearly 25%, as investors welcomed the high premium and potential for business transformation.
Market experts are divided. While some praise the deal as visionary, others worry about the company taking on too much debt. However, most agree this will likely be a defining moment in the footwear industry.
Wall Street Journal’s footwear analyst Lisa Tran commented:
“This is not just a Skechers story. It’s a bellwether moment that could signal a larger trend in how athletic brands are run and funded.”
What’s Next for Skechers
Once private, Skechers is expected to:
- Revamp its e-commerce strategy
- Double down on athleisure and comfort-driven styles
- Expand in Tier-2 and Tier-3 international cities
- Collaborate with more celebrities and influencers
There are also rumors of a possible brand refresh or rebranding initiative to appeal to Gen Z and younger millennials.
The current executive team, including CEO Robert Greenberg and COO David Weinberg, will continue to lead the company post-transaction, according to a press release issued by the company.
A Turning Point in Sneaker History
The Skechers buyout underscores a significant shift in how legacy fashion and sneaker brands operate in a post-pandemic, digital-first world. As consumer behavior evolves, brands need more freedom and flexibility to innovate, scale, and differentiate themselves in an increasingly crowded market.
This $9.42 billion move could pave the way for similar exits from public markets by mid-sized and even large lifestyle brands. Time will tell whether Skechers thrives under new ownership, but for now, this marks one of the boldest corporate plays in footwear history.
- Skechers Official Website – for brand details and official updates
- Apollo Global Management – details on the acquiring firm
- Silver Lake Partners – co-acquirer firm site
- Yahoo Finance – Skechers Stock – for stock data and updates
- Footwear News – reliable industry insights
- Business of Fashion – for fashion industry context
- CNBC – Skechers News – additional market analysis
- Reuters – Skechers Updates – for financial and regulatory news
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