Skechers Basketball Enters the Game

Rhea-AI Summary

Skechers launches its inaugural line of basketball shoes with the signing of Julius Randle and Terance Mann as brand ambassadors. The shoes offer elite performance and comfort, with two distinct mid-top styles. Skechers plans to expand its basketball market presence globally.

Positive

• Skechers enters the basketball market with high-performance shoes endorsed by NBA players Julius Randle and Terance Mann. The shoes offer innovative features and designs for every type of athlete. Skechers plans to expand its basketball market presence to the U.S., China, and the Philippines, with future expansion to more regions expected.

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• None.

Julius Randle and Terance Mann Start NBA Season Tonight Competing in Skechers Basketball Shoes

LOS ANGELES--(BUSINESS WIRE)-- In time for the start of the NBA season, global award-winning brand Skechers hits the hardwood with its inaugural line of technical basketball shoes that offer elite performance and all-star quality for every level of athlete. The initial wave of Skechers Basketball shoes launching next week includes two distinct mid-top styles—SKX Resagrip™ and SKX FLOAT™—that fuse innovative technologies with the brand’s signature comfort.

Julius Randle in Skechers Basketball: SKX FLOAT™. (Photo: Business Wire)

Skechers has enlisted New York Knicks power forward Julius Randle and Los Angeles Clippers shooting guard Terance Mann as the first professional athletes to compete in Skechers Basketball shoes. Following weeks of practice and preseason games in the footwear, Randle and Mann signed on as Skechers Basketball ambassadors—agreeing to represent the performance footwear brand in campaigns after experiencing the most comfortable shoes on the court.

“Following our road map for success as a breakthrough brand in running, golf, pickleball, and global football, we’re leveraging the insight and feedback of pros like Julius Randle and Terance Mann to authenticate our position as a performance brand with the best basketball shoes on the court,” said Greg Smith, VP of Product Development and Merchandising for Skechers Performance. “We’re entering the sport with two players who represent a cross section of the NBA, from an all-star veteran in the Eastern Conference to a rising star right here in Los Angeles. Our roster illustrates that Skechers steps on the court with innovative features and designs for every type of athlete, whatever your style or wherever you play.”

“Along with our recent entry into the soccer business, Skechers now offers high-performance footwear for athletes competing in the two biggest sports on the planet,” added Michael Greenberg, president of Skechers. “This is the start of a long-term investment in basketball with more player partnerships, which is essential for our growth strategy and vision. We’re launching in the three largest stand-alone basketball markets—the U.S., China and the Philippines—with expansion to more regions expected in the future.”

The perfect hybrid of form and function, the SKX Resagrip™ is designed for players who move at top speed with next-level cushioning and responsiveness to accommodate quick and explosive movements. It features Goodyear^® Resagrip Technology with a unique outsole configuration so you can play hard and focus on your game. For players in search of game-changing stability, the SKX FLOAT™ offers strategically-placed TPU to help lock the foot in place, while a lightweight Swirl Tech™ design provides flexibility for an exceptional court feel with a Goodyear^® outsole for enhanced traction. Both styles include Skechers Hyper Burst^® cushioning in the midsole plus a Hyper Burst Pro™ sockliner for added comfort.

“It’s an incredible experience working with Skechers. They’re new to the sport, so we have the opportunity to do exciting things outside the box in a positive and impactful way,” said Julius Randle. “Skechers is a great fit for me because I’m a competitive player and they have this same approach when it comes to their mission to make the best shoe on the court. This is the next stage in a journey for Skechers and for my career, so we’re trailblazing together with these amazing shoes. I love that.”

“From the first moment I stepped onto the court in Skechers, I knew these shoes were the real deal—they’re so comfortable and also represent my style,” said Terance Mann. “I love that Skechers is an L.A.-based brand. I can meet in person at any time to talk about the shoes and really partner with them. They’re giving me everything that I need, and I’m looking forward to competing in Skechers.”

Julius Randle hails from Dallas, Texas and played a single year at University of Kentucky, going all the way to the National Championship Game while earning SEC Rookie of the Year and setting the school record for double-doubles in a season by a freshman. He was selected as the 7^th overall pick in the 2014 NBA draft by the Los Angeles Lakers where he played four seasons and is now in his fifth season with the New York Knicks. Randle is a two-time NBA All-Star, two-time member of the All-NBA Team, and was named NBA Most Improved Player in 2021.

Terance Mann was born in Brooklyn, New York and spent his collegiate career at Florida State where he was the third player in school history to surpass 1,200 points, 600 rebounds, 200 assists and 100 steals. He was selected by the Los Angeles Clippers in the second round of the 2019 NBA draft. Currently in his fifth season with the team, Mann helped the Clippers reach the Western Conference Finals for the first time in franchise history in 2021.

Beyond basketball, the Skechers team of elite athletes competing in the brand’s performance footwear includes FC Bayern Munich striker Harry Kane, golfers Matt Fitzpatrick and Brooke Henderson, pickleball pros Tyson McGuffin and Catherine Parenteau, as well as Dodgers pitcher Clayton Kershaw.

The Skechers Basketball footwear collection will be available next week at skechersbasketball.com and select Skechers retail stores in North America, as well as select retailers and Skechers stores in the Philippines and China. Additional colorways arrive later this fall and low-top versions of both styles will launch in Spring 2024.

About SKECHERS U.S.A., Inc.

Skechers U.S.A., Inc. (NYSE:SKX), a Fortune 500^® 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. Collections from The Comfort Technology Company™ are available in 180 countries and territories through department and specialty stores, and direct to consumers through digital stores and over 4,700 Company- and third-party-owned physical retail stores. The Company 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 Goodyear

Goodyear is one of the world's largest tire companies. It employs about 72,000 people and manufactures its products in 57 facilities in 23 countries around the world. Its two Innovation Centers in Akron, Ohio, and Colmar-Berg, Luxembourg, strive to develop state-of-the-art products and services that set the technology and performance standard for the industry. For more information about Goodyear and its products, go to www.goodyear.com/corporate.

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 Russia’s war with Ukraine; 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, 2022 and its quarterly reports on Form 10-Q in 2023. 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/20231025378417/en/

Jennifer Clay

SKECHERS U.S.A., Inc.

jennc@skechers.com

Source: Skechers U.S.A., Inc.

FAQ

Who are the brand ambassadors for Skechers Basketball?

The brand ambassadors for Skechers Basketball are Julius Randle and Terance Mann, professional NBA players.

What are the key features of the Skechers basketball shoes?

The Skechers basketball shoes offer elite performance, comfort, and innovative features such as Goodyear® Resagrip Technology, Swirl Tech™ design, and Skechers Hyper Burst® cushioning.

Where will the Skechers basketball shoes be available?

The Skechers basketball shoes will be available at skechersbasketball.com, select Skechers retail stores in North America, and select retailers and Skechers stores in the Philippines and China.

What are Skechers' plans for expanding its basketball market presence?

Skechers plans to expand its basketball market presence to the U.S., China, and the Philippines, with future expansion to more regions expected.