SKECHERS Signs Licensing Agreement for SKECHERS-Branded Youth Electronics
MANHATTAN BEACH, Calif.--(BUSINESS WIRE)-- SKECHERS USA, Inc. (NYSE:SKX), a global leader in the footwear industry and the number two footwear brand in the United States,* today announced that it has signed a licensing agreement with Sakar International to produce youth electronics and accessories featuring SKECHERS branding and SKECHERS Kids’ animated characters. The line is scheduled to launch in the first quarter of 2012 at retailers across the United States.
Under the agreement, Sakar will design, produce and distribute a wide range of SKECHERS-branded electronics and accessories to include: MP3 players, molded ear buds, speakers, digital cameras, cases, skins, and USB flash drives inspired by SKECHERS Kids’ footwear styles. Products will be designed for boys and girls from elementary through high school with artwork from SKECHERS’ Zevo-3 animated television series, the Twinkle Toes® by SKECHERS® collection, as well as additional SKECHERS Kids’ characters and SKECHERS branding.
“Kids today have a 24-7 connection to their electronics, and the digital items they carry make as much a lifestyle statement as their footwear,” began Michael Greenberg, president of SKECHERS. “Thanks to our extensive television advertising and marketing, kids around the world truly love the SKECHERS characters. By leveraging that with Sakar’s extensive experience working with major brands like Crayola and Kodak, we expect these products to be among our strongest licensed offerings.”
“SKECHERS has all the ingredients for a successful electronics licensing program, from distinctive brands and sub-brands with a large following, to characters who star in their own entertainment content, to effective marketing that can help drive sell-through,” added Liza Abrams, Sakar’s vice president of licensing. “As a licensee, this gives us the foundation we need to develop branded products that will sell themselves.”
In addition to Sakar, SKECHERS recently signed a licensing agreement with Li & Fung’s LF USA for SKECHERS Fitness apparel and accessories in the United States, and has partnered with numerous other licensees to produce a wide range of products including sporting goods, safety gear, children’s apparel, bags, sunglasses, socks and medical scrubs. The Company continues to seek partnerships and opportunities that will bring the SKECHERS brand to new product segments around the globe.
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, and 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.
About Sakar International
Sakar International Inc. designs and manufactures a wide range of technology, toy, and consumer electronic products. Founded in 1977, the company is the manufacturer of Vivitar camera equipment and accessories, a market leader in youth electronics and rechargeable batteries, and a producer of licensed products for leading consumer brands. Products range from digital cameras and camcorders with related accessories to computer, iPod, GPS and gaming accessories, binoculars, MP3 players, clock radios, gift and toy electronics. The company is privately held and headquartered in Edison, N.J. For more information, please visit www.sakar.com.
*Sporting Goods Intelligence, July 25, 2011
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 ongoing global economic slowdown 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 SKECHERS’ Form 10-K for the year ended December 31, 2010 and its Form 10-Q for the quarter ended March 31, 2011. The risks included here are not exhaustive. SKECHERS and Sakar International operate in a very competitive and rapidly changing environment. New risks emerge from time to time and the companies cannot predict all such risk factors, nor can the companies assess the impact of all such risk factors on their respective businesses 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.
SKECHERS USA, Inc.
Jennifer Clay
310-937-1326
Source: SKECHERS USA, Inc.
Released Aug 9, 2011 • 9:05 am EDT