Skechers Announces Global Footwear Partnership With John Deere

Rhea-AI Summary

Skechers announces a global partnership with John Deere to launch a footwear collection in July 2024. The Skechers x John Deere collection is designed for agricultural professionals, construction workers, and outdoor enthusiasts, combining Skechers' comfort technologies with John Deere's rugged durability. The initial men's line will feature PORON® XRD metatarsal protection, Skechers Hands Free Slip-ins®, Arch Fit®, and Relaxed Fit® technologies. Children's styles will include Skechers Air-Cooled Memory Foam® and machine washable features. The collaboration aims to leverage John Deere's reputable brand and Skechers' global distribution network to attract diverse consumer demographics seeking innovative and durable footwear. The collection will be available at Skechers retail stores, online, and through premium retail and specialty partners worldwide.

Positive

• Global partnership with a reputable brand enhances market reach.
• Launch of a new product line targeting diverse consumer segments.
• Incorporation of advanced technologies such as PORON® XRD, Skechers Hands Free Slip-ins®, and Skechers Air-Cooled Memory Foam®.
• Expansion into the work, outdoor, and fashion footwear markets.
• Available in multiple retail channels, including Skechers stores, online, and premium retailers.
• Potential to attract new customers and build a devoted following.
• Opportunity to leverage John Deere's brand recognition in new markets.

Negative

• Potential challenges in ensuring quality control across diverse product lines.
• Risk of over-reliance on a single partnership for market expansion.
• Uncertainty in consumer reception of the co-branded collection.
• Increased competition in the work and outdoor footwear market sectors.
• Possible high initial marketing and distribution costs.

LOS ANGELES--(BUSINESS WIRE)-- Nothing Runs Like a Deere™…including the new Skechers x John Deere footwear collection. Skechers, The Comfort Technology Company^®, and John Deere, the iconic American brand and signature leaping deer logo, are joining forces to expand the work, outdoor and fashion industries worldwide with a co-branded professional and lifestyle offering. The footwear collection hitting stores in July 2024 is designed for agricultural professionals, construction workers, outdoor enthusiasts and trendsetters—all seeking top-of-their-field brands that offer the latest innovations.

Launching in July, Skechers x John Deere footwear offers the brands' signature trends and comfort technologies for agricultural professionals, outdoor enthusiasts and trendsetters. (Photo: Business Wire)

“Skechers x John Deere is the union of two trusted American brands—bringing their appeal, their technologies, their style—all to deliver comfort that performs to millions who need and want it,” said Michael Greenberg, president of Skechers. “As the country’s number one work footwear brand, this new offering is a natural for us, but Skechers x John Deere also epitomizes the outdoors and fashion for millions of followers and fans. From specialty boutiques and leading department stores to work retailers, we plan to hit the ground running with the pinnacle of distribution around the world—as John Deere is best in class: a highly recognized and valued name with tremendous untapped potential for the greater market.”

“The John Deere brand is exemplified by the active, hard-working farmers, construction workers, maintenance crews and weekend warriors who bring our brand to life,” said Mara Downing, vice president of Corporate Communications and Brand Management. “We’re thrilled this partnership will bring the innovative, rugged and high-quality footwear Skechers is known for to all those who live and work just as hard as our customers.”

Greenberg added: “We’ve worked in close collaboration with John Deere’s team to ensure that our offering meets consumers’ needs—from our advanced technologies to durable designs emblazoned with their iconic colors. This collection will serve many demographics looking to add the Deere brand to their shoe collection—and we’re confident that Skechers x John Deere will build a devoted following across work, fashion and the street.”

Designed with sturdy construction and upgraded with premium and waterproof materials as well as protective features like PORON^® XRD metatarsal protection, the new men’s collection offers function and fashion—pairing Deere’s rugged durability with Skechers’ legendary comfort, style, innovation, quality and value. The initial line will include patented Skechers Hands Free Slip-ins^® Technology, Skechers Arch Fit^® Technology and Skechers Relaxed Fit^® Technology; children’s styles will feature kid-friendly innovations such as Skechers Air-Cooled Memory Foam^® and machine washable technology.

Skechers x John Deere sport adventure, work, utility sneaker and casual styles will be available at Skechers retail stores and www.skechers.com, as well as premium retail partners and specialty retailers worldwide in July 2024.

About SKECHERS U.S.A., Inc.

Skechers (NYSE:SKX), The Comfort Technology Company^® based in Southern California, designs, develops and markets a diverse range of lifestyle and performance footwear, apparel and accessories for men, women and children. The Company’s collections are available in 180 countries and territories through department and specialty stores, and direct to consumers through digital stores and approximately 5,200 Company- and third-party-owned physical retail stores. A Fortune 500^® company, Skechers manages its international business through a network of wholly-owned subsidiaries, joint venture partners, and distributors. For more information, please visit about.skechers.com and follow us on Facebook, Instagram and TikTok.

About John Deere

Deere & Company (www.JohnDeere.com) is a global leader in the delivery of agricultural, construction, and forestry equipment. We help our customers push the boundaries of what’s possible in ways that are more productive and sustainable to help life leap forward. Our technology-enabled products including John Deere Autonomous 8R Tractor, See & Spray™, and E-Power Backhoe are just some of the ways we help meet the world's increasing need for food, shelter, and infrastructure. Deere & Company also provides financial services through John Deere Financial. For more information on Deere & Company, visit us at www.deere.com/en/news/.

This announcement contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may include, without limitation, Skechers’ future domestic and international growth, financial results and operations including expected net sales and earnings, its development of new products, future demand for its products, its planned domestic and international expansion, opening of new stores and additional expenditures, and advertising and marketing initiatives. Forward-looking statements can be identified by the use of forward-looking language such as “believe,” “anticipate,” “expect,” “estimate,” “intend,” “plan,” “project,” “will,” “could,” “may,” “might,” or any variations of such words with similar meanings. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected in forward-looking statements. Factors that might cause or contribute to such differences include the disruption of business and operations due to the COVID-19 pandemic; delays or disruptions in our supply chain; international economic, political and market conditions including the effects of inflation and foreign currency exchange rate fluctuations around the world, the challenging consumer retail markets in the United States, and the impact of wars, acts of war and other conflicts around the world; sustaining, managing and forecasting costs and proper inventory levels; losing any significant customers; decreased demand by industry retailers and cancellation of order commitments due to the lack of popularity of particular designs and/or categories of products; maintaining brand image and intense competition among sellers of footwear for consumers, especially in the highly competitive performance footwear market; anticipating, identifying, interpreting or forecasting changes in fashion trends, consumer demand for the products and the various market factors described above; sales levels during the spring, back-to-school and holiday selling seasons; and other factors referenced or incorporated by reference in Skechers’ annual report on Form 10-K for the year ended December 31, 2023 and its quarterly reports on Form 10-Q in 2024. Taking these and other risk factors associated with the COVID-19 pandemic into consideration, the dynamic nature of these circumstances means that what is stated in this press release could change at any time, and as a result, actual results could differ materially from those contemplated by such forward-looking statements. The risks included here are not exhaustive. Skechers operates in a very competitive and rapidly changing environment. New risks emerge from time to time and we cannot predict all such risk factors, nor can we assess the impact of all such risk factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, you should not place undue reliance on forward-looking statements as a prediction of actual results. Moreover, reported results should not be considered an indication of future performance.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240514918087/en/

Jennifer Clay

SKECHERS U.S.A., Inc.

jennc@skechers.com

(310) 937-1326

Deere & Company

Jen Hartmann

Director, Public Relations

HartmannJenniferA@JohnDeere.com

Source: Skechers

FAQ

When is the Skechers x John Deere footwear collection launching?

The Skechers x John Deere footwear collection is launching in July 2024.

What technologies are included in the Skechers x John Deere footwear collection?

The collection features PORON® XRD metatarsal protection, Skechers Hands Free Slip-ins®, Arch Fit®, Relaxed Fit®, and Air-Cooled Memory Foam® technologies.

Where will the Skechers x John Deere footwear collection be available?

The collection will be available at Skechers retail stores, online at www.skechers.com, and through premium retail partners and specialty retailers worldwide.

Who is the target audience for the Skechers x John Deere footwear collection?

The target audience includes agricultural professionals, construction workers, outdoor enthusiasts, and fashion trendsetters.

What are the key features of the Skechers x John Deere men's footwear line?

The men's line includes sturdy construction, premium waterproof materials, PORON® XRD metatarsal protection, and Skechers' signature comfort technologies.