SKECHERS Launching Branded Line of Backpacks and Bags
MANHATTAN BEACH, Calif.--(BUSINESS WIRE)-- SKECHERS USA, Inc. (NYSE:SKX), a global leader in the lifestyle footwear industry, today announced that it has signed a licensing agreement with Global Design Concepts to design, produce and distribute SKECHERS-branded backpacks, messenger and tote bags for men, women and kids.
Ready for Fall 2010 delivery, this new SKECHERS Bags line will include a wide range of products constructed with quality, durable materials branded with SKECHERS' iconic logo. From small, trend-driven bags to larger, more functional backpacks, laptop and messenger bags, the collection will meet the needs of a wide demographic.
"It's our goal to continue leveraging the branding power of SKECHERS to reach our consumers across an increasingly diverse assortment of product categories," stated Michael Greenberg, president of SKECHERS. "Global Design Concepts is an expert manufacturer and distributor in the bags category, and we're excited that this partnership provides women, men, and kids with new, exciting ways to accessorize their SKECHERS footwear purchases."
"We've wanted to partner with SKECHERS because the brand has a remarkably strong extensive reach," said Dan Sabbah, president and CEO of Global Design Concepts. "SKECHERS is a perfect match for our quality product, and we feel consumers who love SKECHERS footwear will be very excited about the new line of branded bags launching soon."
SKECHERS Bags will be available in department, specialty, sporting goods, and general athletic footwear stores throughout the United States and Canada.
"Global Design Concepts caught our eye with their exciting design flair," explained Paul Flett, senior vice president of licensing at SKECHERS. "Combine that with a passion for innovation and great grasp of our brand DNA, and it's clear why they represent a welcome addition to our growing portfolio of high quality licensees."
In addition to Global Design Concepts, SKECHERS has partnered with licensees to produce a wide range of products including children's apparel, sunglasses, legwear, medical scrubs, and leather accessories. The Company is currently negotiating with additional licensees both domestic and abroad and continues to seek out partnerships and opportunities that will bring the SKECHERS brand to new product segments around the globe.
About Global Design Concepts, Inc.
Global Design Concepts, Inc. was founded in 1999 with the goal of becoming the accessory manufacturer of choice for the industry. This objective was quickly achieved through innovative design, quality product and strong retail relationships all supporting meaningful brands. Global Design Concepts brings to the table what it does best, providing innovative trend-right products at market sensitive prices. Over 200 employees in four countries produce seasonal trend-driven product lines that include backpacks, bags, luggage, lunch bags, small leather goods, diaper bags and more for retail partners worldwide. For more information, visit www.gdcny.com.
ABOUT SKECHERS USA, Inc.
SKECHERS USA, Inc., based in Manhattan Beach, California, designs, develops and markets a diverse range of footwear for men, women and children under the SKECHERS name, as well as under several uniquely branded names. SKECHERS footwear is available in the United States via department and specialty stores, Company-owned SKECHERS retail stores and its e-commerce website, as well as in over 100 countries and territories through the Company's global network of distributors and subsidiaries in Canada, Brazil, Chile, and across Europe, as well as through joint ventures in Asia. For more information, please visit www.skechers.com.
This announcement may contain forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or simply state future results, performance or achievements, and 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 international, national and local general economic, political and market conditions including the global economic slowdown and the ongoing financial crisis and market instability; entry into the highly competitive performance footwear market; 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; 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 the Company's Form 10-K for the year ended December 31, 2009 and the Company's Form 10-Q for the quarter ended March 31, 2010. The risks included here are not exhaustive. The Company operates in a very competitive and rapidly changing environment. New risks emerge from time to time and the Company cannot predict all such risk factors, nor can the Company assess the impact of all such risk factors on the 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.
Source: SKECHERS USA, Inc.
Released May 18, 2010 • 9:05 am EDT