Is Skechers a challenge for Nike?
By ymahfooz on 30 Aug 2015
Till a few years ago, Skechers was known for making cheaper versions of designer shoes. But the company redesigned its portfolio and sales increased by 36% in the recent quarter. The brand has become the second largest athletic footwear company in America at 5% market share (surpassing Adidas). Nike is still the leader with a 62% market share. Skechers also benefitted from the athleisure trend in retail, where shoppers buy sport-styled clothes and shoes regardless of whether they plan to work out in them.
Along with the product strategy, Skechers has improved its promotion strategy too by roping in celebrities to promote the range of shoes. More recently it got into corporate advertising by sponsoring the Los Angeles Marathon.
http://www.businessinsider.com/skechers-posts-36-sales-increase-2015-8#i...
http://www.runnersworld.com/los-angeles-marathon/skechers-to-sponsor-los...