The chunky sneaker trend might be here to stay. Skechers saw a revival in 2018 which produced a record breaking year for the brand.
As spotted on Hypebeast the Manhattan Beach, California company reported big numbers on their recent earnings call. For Q4 2018 they sold over a 1.08 billion dollars worth of goods closing the calendar out with a total of $4.64 billion. This was a 16% increase year over year which is largely attributed to their signature D’Lite model.
In a formal statement Skechers Chief Operating Officer David Weinberg detailed how their prosperity is on a global scale. “In 2018, we also shipped a record number of pairs from our distribution centres across South America, North America, Japan and Europe, which is a testament to the strength of our global operations and the breadth of our international sales, which represented 54% of our total business for the year.”
Their success shouldn’t come as a surprise when considering the trends that dominated fashion in the last 12 months. The ugly / dad sneaker was a clear disrupter in the footwear category with countless brands adopting the style at both luxury (Givenchy) and mass market (Nike) price points. As a result of the announcement Skechers stocks soared 17% last weekend.
Somebody Is Wearing Them: Skechers Hits $1 Billion In Sales In 2018 was originally published on hiphopwired.com