SKECHERS Footwear Announces Licensing Agreement with Adjmi Apparel to Produce Children's Clothing Line

Jan 6, 2009 • 8:59 am EST

LOS ANGELES--(BUSINESS WIRE)-- SKECHERS USA (NYSE:SKX), a global leader in the lifestyle footwear industry, today announced that Adjmi Apparel Group has been named the licensee for a new SKECHERS-branded children's clothing line set to launch in Fall 2009 at department, specialty and online retailers that carry SKECHERS Kids footwear.

Through this agreement, Adjmi will design, distribute and market a line of fashionable and comfortable SKECHERS apparel for boys 12 months through size 7, and girls in 12 months through size 16.

"SKECHERS Kids has become the number one children's footwear resource for many key accounts and independents," stated Michael Greenberg, president of SKECHERS. "Our colorful and comfortable range has met the needs of the smaller set for fifteen years, and has continued to grow - thanks in part to the birth of our characters - Elastika(R), Kewl Breeze(R), Super Z Strap(R) and HyDee Hi-Top(R). On most weekends and through many weeknights, we are entertaining children on leading network and cable stations with creative, memorable and appealing spots. We hear the positive reaction from accounts as children and their parents request the latest styles they saw on TV. The demand for SKECHERS Kids footwear is ever growing, and developing cool apparel will create a head-to-toe SKECHERS experience. We're excited to have Adjmi on board and look forward to the first collection."

"SKECHERS Kids is considered to be one of America's top children's footwear brands," said Eric Adjmi, founder of the Adjmi Apparel Group. "The diversity of SKECHERS' distribution and account base is in synch with the range of our family of apparel brands. We're looking forward to our first delivery and to a long partnership with SKECHERS."

The agreement with Adjmi follows a domestic licensee deal with The Betesh Group to produce SKECHERS bags.

ABOUT ADJMI APPAREL GROUP

Adjmi Apparel Group based in New York City was founded in 1976 as a children's apparel importer. It has since developed into four prominent companies in the apparel industry - covering boys' newborn through menswear and girls' newborn through ladies ready-to-wear. Each of these four companies is focused to a specific market in the industry.

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, and across Europe, as well as through joint ventures in China and Hong Kong. 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 warehouse, 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 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 the Company's Form 10-K for the year ended December 31, 2007 and the Company's Form 10-Q for the quarter ended September 30, 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 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.