SKECHERS Signs Idol Winner David Cook to Global Deal
Footwear Company Brings American Idol Winner on Board for Endorsement Agreement
MANHATTAN BEACH, Calif.--(BUSINESS WIRE)--
SKECHERS USA, Inc. (NYSE:SKX), a global leader in the lifestyle footwear industry, today announced that it has signed recent American Idol winner and rising star David Cook to a global endorsement agreement. This deal marks the first male celebrity to make SKECHERS' roster since 2002, when actor Robert Downey Jr. was the face of the global brand, and the second American Idol winner, with Carrie Underwood being the first in 2005.
With exclusive worldwide rights to advertise footwear using Cook's image through December 2009, SKECHERS will feature the 25-year-old singer in various SKECHERS' styles through a campaign that will reflect his personality, interests and appeal. Launching in Fall '08, the campaign coincides with the "PopTarts American Idols Live! Tour 2008," and the debut of David's first post-Idol album on 19 Recordings/RCA Records. The SKECHERS Cook campaign will include print, outdoor and in-store.
"I have always viewed SKECHERS as a cool company, so I am excited to be a part of their campaign," said Cook, who proved his enduring popularity by breaking an all-time Billboard chart record with 11 songs debuting on the Hot 100 in a single week after winning American Idol. "They've had some sensational singers like Carrie Underwood and Christina Aguilera as they were starting out and it will be great to be a part of the SKECHERS roster."
"We are thrilled that David will be representing SKECHERS in our marketing campaigns around the world," stated Michael Greenberg, president of SKECHERS. "As a dynamic performer with a friendly, approachable personality, he's a perfect fit for the SKECHERS brand and an exciting next step for our tradition of successful partnerships with emerging music stars."
Greenberg continued, "The crossing-over of fashion and music is beneficial to both industries, and benefits the stars and the brands associated with them. For this reason, we have invested in such phenomenal stars as Britney Spears, Christina Aguilera, Carrie Underwood, Ashlee Simpson, and now, David Cook."
Along with celebrated songstresses Spears, Aguilera, Underwood and Simpson, and male stars like Rob Lowe, Matt Dillon, former Lakers player Rick Fox and Downey Jr. have all appeared in SKECHERS marketing campaigns.
Mr. Cook did not plan to try out when he went to support his brother at the Omaha, Nebraska auditions for season seven of American Idol. Despite his intentions, he was convinced to sing, and was selected to continue to the Hollywood round. The guitar-playing rock singer overcame the odds to beat out over 100,000 contestants before advancing to the top 24. David received the necessary votes to stick around week after week, until he eventually won the title of "American Idol" at the finale in Los Angeles on May 21, 2008.
The global endorsement agreement was signed with 19 Merchandising Limited on behalf of Mr. Cook.
ABOUT SKECHERS USA, Inc.
Celebrating its 16th year in business, SKECHERS USA, Inc., 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, Asia, and across Europe, as well as through a joint venture in China and in Hong Kong. The company is based in Manhattan Beach, California. Please visit www.skechers.com or call the company's information line at 877-INFO-SKX.
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; intense competition among sellers of footwear for consumers; changes in fashion trends and consumer demands; popularity of particular designs and categories of products; the level of sales during the spring, back-to-school and holiday selling seasons; the ability to anticipate, identify, interpret or forecast changes in fashion trends, consumer demand for the products and the various market factors described above; the ability to maintain brand image; the ability to sustain, manage and forecast growth and inventories; the ability to secure and protect trademarks, patents and other intellectual property; the loss of any significant customers, decreased demand by industry retailers and cancellation of order commitments; potential disruptions in manufacturing related to overseas sourcing and concentration of production in China, including, without limitation, difficulties associated with political instability in China, the occurrence of a natural disaster or outbreak of a pandemic disease in China, or electrical shortages, labor shortages or work stoppages that may lead to higher production costs and/or production delays; changes in monetary controls and valuations of the Yuan by the Chinese government; increased costs of freight and transportation to meet delivery deadlines; violation of labor or other laws by independent contract manufacturers, suppliers or licensees; potential imposition of additional duties, tariffs or other trade restrictions; business disruptions resulting from natural disasters such as an earthquake due to the location of domestic warehouses, headquarters and a substantial number of retail stores in California; changes in business strategy or development plans; changes in economic conditions that could affect the ability to open retail stores in new markets and/or the sales performance of existing retail stores; the ability to attract and retain qualified personnel; the disruption, expense and potential liability associated with existing or unanticipated future litigation; and other factors referenced or incorporated by reference in SKECHERS' Form 10-K for the year ended December 31, 2007 and Form 10-Q for the quarter ended March 31, 2008. The risks included here are not exhaustive. We operate 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 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.
Source: SKECHERS USA, Inc.
Released Jul 9, 2008 • 8:35 am EDT