Although Skechers is a relatively new company, its innovative and attracting designs have helped it become one of the world’s leading shoe industries-top five, according to “Forbes."
Founded in 1992 by Robert Greenberg, who, in the past, sprung the popular shoe brand “L.A. Gear," Skechers’ initial purpose was to serve as a U.S. distributor for Doc Martens boots. Greenberg, who hired his son Michael as president of the company, began designing and advertising an athletic shoe. His aspiration, design a model capable of appealing to both young men and women.
In 1993, the “Chrome Dome” shoe did just that. An androgynous, pre-scuffed model was Skechers’ ticket to the big leagues. With widespread demand for this shoe, stores like Nordstrom and Macys began carrying the Skechers brand.
With such success, Skechers had the means to challenge powerhouse shoe brands such as Nike and Reebok. Instead of focusing on performance, Skechers decided to pursue models that would reflect the best streetwise style. This move created a chain reaction amongst casual youth footwear in America, one that would last throughout the late 1990s.
In order to stay on top, Skechers had to be aggressive. With brilliant marketing tactics and full-page ads, Skechers proved ferocious. In addition, Skechers is famous for offering free pagers and phone cards to its customers to promote its campaign.
When Skechers had its IPO in 1999, investors were skeptical in the company’s trajectory. By 2000, doubts were no longer an issue. Skechers’ stocks grew, and continued to grow. In the next coming years, investors viewed Skechers stocks as a “strong buy." In 2014, “Forbes” named Skechers “the hottest major brand in the United States” soon after it became the fifth largest sneaker company in the world, market share wise.