×
71 609
Fashion Jobs
MACY'S
Manager, Omni Operations
Permanent · Skokie
MACY'S
Director, External Communications – Product And Brand
Permanent · New York
MACY'S
Credit Finance Analyst ii
Permanent · Deerfield Township
MACY'S
Manager, Merchandise Execution
Permanent · Florence
MACY'S
Asset Protection Captain, Clackamas Town Center - Full Time
Permanent · Happy Valley
MACY'S
Multi-Store Detective, Tacoma - Full Time
Permanent · Tacoma
MICHAEL KORS
Part Time Sales Supervisor, Memorial City Mall
Permanent · Houston
MICHAEL KORS
Sales Supervisor, Sugar Land, tx
Permanent · Houston
MICHAEL KORS
Sales Supervisor The Woodlands Mall
Permanent · Houston
JCREW
Junior Account Executive
Permanent · New York
JCREW
Senior Counsel, Intellectual Property & Product Compliance
Permanent · New York
JCREW
Brand Marketing Director, mw Men's
Permanent · New York
JCREW
Product Manager
Permanent · New York
JCREW
Distribution Supervisor
Permanent · Lynchburg
MARSHALLS
Loss Prevention Detective
Permanent · Charlotte
MARSHALLS
Loss Prevention Detective
Permanent · Bloomfield
MARSHALLS
Loss Prevention Detective
Permanent · Charlotte
MARC JACOB'S
Business Analyst, Supply Chain
Permanent · New York
MARC JACOB'S
Director, Business Applications
Permanent · New York
BLOOMINGDALE'S
Asset Protection Outlet Associate, Part Time - Outlets at Orange
Permanent · Orange
BLOOMINGDALE'S
Outlet Keyholder Selling, Full Time - Riverhead
Permanent · Riverhead
MACY'S
Asset Protection Detective, Temecula Promenade - Part Time
Permanent · Temecula
Published
Oct 31, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Skechers considering IPO for Asia business

Published
Oct 31, 2021

Manhattan Beach, California-based lifestyle and footwear company Skechers USA Inc. is reportedly weighing up different strategic options for its business in Asia, including a possible initial public offering on the Hong Kong stock exchange.


Skechers is considering a range of strategic alternatives for its Asia business - Instagram: @skechers

 
According to a Business of Fashion report citing “people with knowledge of the matter,” the company has undertaken preliminary talks with advisors in order to evaluate a range of possibilities for its Asia business.
 
A Hong Kong IPO could raise around $1.5 billion, said the sources, and could involve Skechers buying out its Asian joint venture partners. The company’s current joint ventures in the region include Skechers China, launched in partnership with Luen Thai Enterprises in 2007, as well as units in South Korea and Southeast Asia.

BoF’s sources emphasized that deliberations are still at an early stage and that Skechers may decide to pursue other strategic alternatives.
 
Skechers reported sales of $1.55 billion for the third quarter ended September 20, 2021, a figure which represented 19.2% growth compared to the same period in the previous year, but which came in under the company’s own expectations of between $1.60 billion and $1.65 billion.
 
Growth in the company’s international wholesale segment was driven by year-over-year increases of 10.0% in China and 67.5% in India.
 
Last year, Skechers reported annual revenues of $4.6 billion, with almost 60% of this figure accounted for by sales outside of the United States. China alone represented $924.5 million, or approximately 20%, of the company’s total sales in 2020.
 
Skechers currently operates in more than 170 countries around the world and has a network of over 4,000 stores, including both company-operated locations and stores owned by third parties.

Copyright © 2022 FashionNetwork.com All rights reserved.