Skechers announced today that it had been acquired by the private equity firm 3G Capital in a massive $9 billion deal.
The announcement says that the footwear company will continue to implement its current growth strategies, including "designing award-winning and innovative products" and other initiatives, led by its current chairman and CEO, Robert Greenberg, president, Michael Greenberg, and COO, David Weinberg.
Skechers was founded in 1992, and has since been known to release sneakers that look like copycat versions of existing footwear models. Most recently however, in 2023, Skechers launched a performance basketball line and features an NBA All-Star lineup of endorsees headlined by Joel Embiid, Julius Randle, and others.
"We are thrilled to be partnering with Skechers and look forward to working with an entrepreneur of Robert’s caliber and the talented Skechers team," 3G Capital co-founder and co-managing partner Alex Behring and co-managing partner Daniel Schwartz said. "Skechers is an iconic, founder-led brand with a track record of creativity and innovation. We have immense admiration for the business that this team has built, and look forward to supporting the company’s next chapter. Our team at 3G Capital is built to partner with companies like Skechers."
3G Capital's acquisition of Skechers is scheduled to finalize sometime in the third quarter of 2025, which will end the brand's nearly three-decade run as a publicly traded company.
