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Skechers Announces Global Partnership With the Nature Conservancy and Launches Our Planet Matters Recycled Collection
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Rhea-AI Summary
Skechers USA, Inc. (NYSE: SKX) announces a partnership with The Nature Conservancy, committing at least $800,000 to support environmental protection efforts. The company launches the Our Planet Matters collection, featuring sustainable products made from recycled materials. This initiative aims to enhance consumer awareness regarding sustainability while also addressing climate change and promoting responsible sourcing practices. Skechers emphasizes its commitment to reducing its carbon footprint through various environmental advancements across its operations.
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Partnership with The Nature Conservancy, contributing at least $800,000 for environmental initiatives.
Launch of the Our Planet Matters collection using recycled materials, enhancing sustainability.
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LOS ANGELES--(BUSINESS WIRE)--
Skechers USA, Inc. (NYSE:SKX), The Comfort Technology Company™, announced that the brand is partnering with global environmental nonprofit The Nature Conservancy through a multi-year commitment, contributing a minimum of $800,000 to help the organization achieve its mission to protect our world’s lands and waters. In addition, Skechers has created Our Planet Matters, a new collection of sustainable men’s, women’s, and children’s product which utilizes recycled materials in its designs to help reduce the Company’s environmental impact.
Skechers is partnering for a purpose: teaming up with The Nature Conservancy to protect the world's lands and waters as it launches its Our Planet Matters sustainable collection. (Photo: Business Wire)
The Our Planet Matters offering contains materials such as recycled cotton, polyester, rubber, EVA and TPU, as well as durable designs and washable technologies to extend the life of the product. The recycled contents of each style will be featured on packaging and hangtags to provide consumers with detailed knowledge of Our Planet Matters products at the time of purchase.
“As a global lifestyle brand, we have a wonderful opportunity to encourage consumers of every age to become more environmentally conscious in their daily lives. And Our Planet Matters is a natural step in that direction,” said Michael Greenberg, president of Skechers. “These styles enable people of all ages to wear many of our popular designs in recycled materials—an easy, practical way to start helping our planet. From Our Planet Matters to partnering for a purpose alongside The Nature Conservancy, we look forward to improving our sustainability as we find new ways to innovate our business operations and our next generation of product.”
“We are facing a climate and biodiversity crisis and the window to act is closing quickly. Each one of us has the power to make real change happen, one small step at a time. Together with partners like Skechers, we can inspire millions of people around the world to take action for the planet, because our lives depend on it,” said Jennifer Hoyer, global director of Cause Marketing & Brand Partnerships for The Nature Conservancy. “We are grateful to work alongside a partner like Skechers, with a history of helping families impacted by hurricanes, fires and other natural disasters—many of which continue to increase due to our changing climate. Our Planet Matters shoes provide environmentally conscious supporters with an option to help protect our planet.”
Skechers’ partnership with The Nature Conservancy will help fund the organization’s mission, which encompasses global efforts such as reforestation initiatives that align with the Company’s longstanding commitment to reducing tree harvesting and emissions through packaging. A 2020 Sourcing Journal Sustaining Voices honoree, Skechers utilizes recyclable cartons at its factories and distribution centers and environmentally friendly packaging materials for its products, from the exclusive use of soy- and water-based ink and recyclable foot forms and tissue paper, to a ninety-nine percent reduction in plastic since 2016. Ninety-nine percent of Skechers’ shoeboxes meet the FSC® standard for responsible sources, and the Company regularly ensures that its materials are FSC®-certified, recycled or ethically harvested.
With an eye on reducing its carbon footprint, Skechers has made its environmental advancements a top priority at its corporate facilities—building LEED-Certified Gold distribution centers in North America and Europe, along with its expanding headquarters in Manhattan Beach. At its two key Corporate Headquarters in Manhattan Beach, the Company uses 30 and 48 percent of its energy from the sun—with up to 34 percent of solar energy use anticipated on Skechers’ upcoming buildings. The Company also plans to expand its Corporate Headquarters as LEED-Certified Gold facilities.
Skechers, 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 the United States and over 170 countries and territories via department and specialty stores, and direct to consumers through 4,170 Company- and third-party-owned retail stores and e-commerce websites. The Company manages its international business through a network of global distributors, joint venture partners in Asia, Israel and Mexico, and wholly-owned subsidiaries in Canada, Japan, India, Europe and Latin America. For more information, please visit about.skechers.com and follow us on Facebook, Instagram, Twitter, and TikTok.
About The Nature Conservancy
The Nature Conservancy is a global conservation organization dedicated to conserving the lands and waters on which all life depends. Guided by science, we create innovative, on-the-ground solutions to our world's toughest challenges so that nature and people can thrive together. We are tackling climate change, conserving lands, waters and oceans at an unprecedented scale, providing food and water sustainably and helping make cities more sustainable. Working in 75 countries and territories: 37 by direct conservation impact and 38 through partners, we use a collaborative approach that engages local communities, governments, the private sector, and other partners. To learn more, visit www.nature.org and follow us on Facebook, Instagram, and Twitter.
This announcement contains forward-looking statements that are made pursuant to the safe harbor provisions of 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 be,” “will continue,” “will result,” “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 challenging consumer retail markets in the United States; 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, 2020 and its quarterly report on Form 10-Q for the three months ended September 30, 2021. More specifically, the COVID-19 pandemic has had and is currently having a significant impact on Skechers’ business, financial conditions, cash flow and results of operations. Forward-looking statements with respect to the COVID-19 pandemic include, without limitation, Skechers’ plans in response to this pandemic. At this time, there is significant uncertainty about the COVID-19 pandemic, including without limitation, (i) the duration and extent of the impact of the pandemic, (ii) governmental responses to the pandemic, including how such responses could impact Skechers’ business and operations, as well as the operations of its factories and other business partners, (iii) the effectiveness of Skechers’ actions taken in response to these risks, and (iv) Skechers’ ability to effectively and timely adjust its plans in response to the rapidly changing retail and economic environment. 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.
