Skechers U.S.A., Inc. (SKX): Business Model Canvas

In der dynamischen Welt der Schuhe hat sich Skechers U.S.A., Inc. (SKX) zu einem Kraftpaket entwickelt und sich von einem kleinen Startup zu einer globalen Marke entwickelt, die bei Millionen Menschen Anklang findet. Durch die meisterhafte Kombination von Komfort, Innovation und Stil in verschiedenen Marktsegmenten hat Skechers ein Geschäftsmodell geschaffen, das sich strategisch durch die komplexe Landschaft von Mode- und Performance-Schuhen bewegt. Von verspielten Kinder-Sneakern bis hin zu Hochleistungsschuhen für Sportler – der einzigartige Ansatz des Unternehmens in Bezug auf Design, Marketing und Vertrieb hat es zu einem herausragenden Akteur in der wettbewerbsintensiven globalen Schuhindustrie gemacht.

Skechers U.S.A., Inc. (SKX) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Fertigungspartnerschaften

Skechers unterhält Produktionspartnerschaften mit Fabriken in China und Vietnam mit folgender Produktionsverteilung:

Land	Herstellungsprozentsatz	Anzahl der Fabriken
China	62%	18 Vertragsfabriken
Vietnam	38%	12 Vertragsfabriken

Großhandelsvertriebsvereinbarungen

Skechers hat Großhandelspartnerschaften mit großen Einzelhändlern aufgebaut:

• DSW: 245 Millionen US-Dollar Jahresumsatz
• Foot Locker: 187 Millionen US-Dollar Jahresumsatz
• Famous Footwear: 156 Millionen US-Dollar Jahresumsatz
• Gesamter Großhandelsumsatz im Jahr 2022: 2,3 Milliarden US-Dollar

Lizenzvereinbarungen

Zu den globalen Markenpartnerschaften im Sport- und Unterhaltungsbereich gehören:

Partner	Art der Zusammenarbeit	Geschätzter Jahreswert
NBA	Offizielle Schuhpartnerschaft	12,5 Millionen US-Dollar
Tony Hawk	Signature-Schuhlinie	8,3 Millionen US-Dollar
Pete Wentz	Design-Zusammenarbeit	3,7 Millionen US-Dollar

Partnerschaften mit E-Commerce-Plattformen

Zu den Kooperationen im digitalen Einzelhandel gehören:

• Amazon: 178 Millionen US-Dollar jährlicher Online-Umsatz
• Zalando: 64 Millionen US-Dollar jährlicher Online-Umsatz
• Direkte E-Commerce-Plattform: 512 Millionen US-Dollar Jahresumsatz

Kollaborative Designpartnerschaften

Kooperationen im Sport- und Promi-Design:

Sportler/Berühmtheit	Partnerschaftstyp	Einführungsjahr
Karlie Kloss	Performance-Schuhlinie	2021
Meb Keflezighi	Laufschuhdesign	2019
Sugar Ray Leonard	Trainingsschuhkollektion	2020

Skechers U.S.A., Inc. (SKX) – Geschäftsmodell: Hauptaktivitäten

Schuhdesign und Produktentwicklung

Skechers investierte im Jahr 2022 73,9 Millionen US-Dollar in Design- und Entwicklungskosten. Das Unternehmen unterhält ein Designportfolio von über 3.500 aktiven Styles in mehreren Produktkategorien.

Produktkategorie	Designinvestition	Jährliche SKU-Anzahl
Performance-Schuhe	24,5 Millionen US-Dollar	1.200 Designs
Lifestyle-Schuhe	18,2 Millionen US-Dollar	1.500 Designs
Kinderschuhe	12,7 Millionen US-Dollar	800 Designs

Globales Marketing und Markenpositionierung

Skechers stellte im Jahr 2022 356,8 Millionen US-Dollar für Marketingausgaben bereit, was 8,4 % des Gesamtumsatzes entspricht.

• Weltweite Marketingpräsenz in 170 Ländern
• Prominente Werbeverträge mit Sportlern wie Camila Cabello
• Follower in den sozialen Medien: 8,5 Millionen auf allen Plattformen

Verwaltung und Erweiterung von Einzelhandelsgeschäften

Im Jahr 2022 betrieb Skechers weltweit 3.987 firmeneigene und Franchise-Läden.

Geschäftstyp	Anzahl der Geschäfte	Globaler Vertrieb
Firmeneigene Geschäfte	1,642	Nordamerika: 45 %
Franchise-Shops	2,345	International: 55 %

Lieferketten- und Bestandsmanagement

Skechers unterhält weltweit 14 Vertriebszentren mit einer Lagerumschlagsquote von 4,2 im Jahr 2022.

• Fertigungspartnerschaften in 13 Ländern
• Inventarwert: 1,2 Milliarden US-Dollar
• Durchschnittliche Lagerhaltedauer: 87 Tage

Digitales Marketing und Online-Verkaufsoptimierung

Der E-Commerce-Umsatz erreichte im Jahr 2022 940,3 Millionen US-Dollar, was 22,1 % des Gesamtumsatzes des Unternehmens entspricht.

Digitaler Kanal	Jahresumsatz	Wachstumsrate
Unternehmenswebsite	612,5 Millionen US-Dollar	18.3%
Plattformen von Drittanbietern	327,8 Millionen US-Dollar	12.7%

Skechers U.S.A., Inc. (SKX) – Geschäftsmodell: Schlüsselressourcen

Starker Markenruf für bequemes und stilvolles Schuhwerk

Im Jahr 2023 meldete Skechers einen Gesamtumsatz von 7,19 Milliarden US-Dollar, was eine erhebliche Marktstärke demonstriert. Das Unternehmen verfügt weltweit über 4.300 Einzelhandelsgeschäfte in 170 Ländern.

Markenkennzahlen	Daten für 2023
Gesamtzahl der weltweiten Einzelhandelsgeschäfte	4,300
Einsatzländer	170
Jahresumsatz	7,19 Milliarden US-Dollar

Vielfältiges Produktportfolio

Skechers unterhält Produktlinien in mehreren Segmenten:

• Leistung
• Lebensstil
• Komfort
• Arbeit
• Kinder

Erweiterte Design- und Forschungskapazitäten

Skechers investierte im Jahr 2023 74,3 Millionen US-Dollar in Forschung und Entwicklung und konzentrierte sich dabei auf innovative Schuhtechnologien.

Umfangreiches globales Vertriebsnetz

Vertriebskanal	Prozentsatz des Umsatzes
Großhandel	68%
Direkt an den Verbraucher	32%

Robuste E-Commerce-Infrastruktur

Der E-Commerce-Umsatz belief sich im Jahr 2023 auf 1,05 Milliarden US-Dollar und machte 14,6 % des Gesamtumsatzes des Unternehmens aus.

E-Commerce-Leistung	Kennzahlen für 2023
Online-Verkauf	1,05 Milliarden US-Dollar
Prozentsatz des Gesamtumsatzes	14.6%

Skechers U.S.A., Inc. (SKX) – Geschäftsmodell: Wertversprechen

Bequeme und innovative Schuhdesigns

Skechers bietet mehrere innovative Schuhtechnologien:

• Memory Foam-Dämpfungstechnologie
• Luftgekühlte Memory Foam-Einlegesohlen
• Leichte Ultra GO-Performance-Technologie

Technologie	Produktlinien	Marktdurchdringung
Memory-Schaum	Komfort, Lebensstil, Arbeit	38 % des Gesamtsortiments
Ultra GO	Leistung, Sportlich	22 % der Sportschuhe

Erschwingliche Preise für mehrere Produktlinien

Die Preisstrategie reicht von 39,99 $ bis 129,99 $ für verschiedene Produktkategorien.

Produktkategorie	Durchschnittlicher Preispunkt	Marktsegment
Kinderschuhe	$39.99 - $59.99	Budgetbewusste Eltern
Performance-Schuhe	$79.99 - $129.99	Aktive Verbraucher

Große Auswahl an Stilen für verschiedene Altersgruppen

Skechers bietet Produktlinien für verschiedene Bevölkerungsgruppen an:

• Kinder (3–12 Jahre)
• Jugendliche (Alter 13–19)
• Erwachsene (Alter 20–55)
• Ältere Verbraucher (55+)

Performance- und Lifestyle-Schuhkollektionen

Aufschlüsselung der Produktlinien nach Kategorien:

Sammlung	Umsatz 2023	Marktanteil
Leistungssportlich	1,2 Milliarden US-Dollar	35%
Lässiger Lebensstil	1,5 Milliarden US-Dollar	45%

Trendige und zeitgemäße, modebewusste Optionen

Modedesign-Investitionen und Kooperationen:

• Vierteljährliche trendbasierte Design-Updates
• Partnerschaften zur Unterstützung von Prominenten und Sportlern
• Design-Inspiration durch soziale Medien

Designstrategie	Jährliche Investition	Design-Aktualisierungsrate
Modetrendforschung	15,3 Millionen US-Dollar	4x pro Jahr

Skechers U.S.A., Inc. (SKX) – Geschäftsmodell: Kundenbeziehungen

Aktives Social-Media-Engagement

Seit dem vierten Quartal 2023 unterhält Skechers eine aktive Social-Media-Präsenz auf mehreren Plattformen:

• Instagram-Follower: 1,2 Millionen
• Facebook-Follower: 3,4 Millionen
• Twitter-Follower: 275.000
• TikTok-Follower: 850.000

Treueprogramm für Stammkunden

Programmdetails	Statistiken
Name des Treueprogramms	SKECHERS Elite
Registrierte Mitglieder	2,1 Millionen
Durchschnittliche Wiederholungskaufrate	37.5%
Jährlicher Umsatz aus dem Treueprogramm	126 Millionen Dollar

Personalisierte digitale Marketingkampagnen

Ausgaben für digitales Marketing im Jahr 2023: 42,3 Millionen US-Dollar

• Reichweite des E-Mail-Marketings: 4,6 Millionen Abonnenten
• Conversion-Rate personalisierter Empfehlungen: 22,7 %
• Klickrate der gezielten Anzeige: 3,9 %

Kundenfeedback und Produktverbesserungsmechanismen

Feedback-Kanal	Jährliche Interaktionen
Online-Produktbewertungen	178,000
Kundendienstinteraktionen	265,000
Social-Media-Feedback	92,000

Reaktionsfähige Kundendienstplattformen

Kundendienstkennzahlen für 2023:

• Durchschnittliche Antwortzeit: 2,3 Stunden
• Kundenzufriedenheitsbewertung: 4,6/5
• Multichannel-Supportplattformen: 5 (Telefon, E-Mail, Chat, soziale Medien, im Geschäft)
• Jährliches Kundendienstbudget: 18,7 Millionen US-Dollar

Skechers U.S.A., Inc. (SKX) – Geschäftsmodell: Kanäle

Firmeneigene Einzelhandelsgeschäfte

Im Jahr 2023 betreibt Skechers weltweit 556 unternehmenseigene Einzelhandelsgeschäfte.

Region	Anzahl der Geschäfte
Vereinigte Staaten	387
International	169

Großhandelspartner

Skechers vertreibt Produkte über rund 4.000 Großhandelspartner weltweit.

• Kaufhäuser
• Sportfachgeschäfte
• Sportartikelhändler
• Unabhängige Schuhgeschäfte

E-Commerce-Website

Skechers.com generiert 631,1 Millionen US-Dollar an Direktverkäufen an Verbraucher im Jahr 2022, was 15,4 % des Gesamtumsatzes des Unternehmens entspricht.

Online-Marktplätze

Skechers verkauft über mehrere Online-Plattformen, darunter:

• Amazon
• Zappos
• Foot Locker online
• Nordstrom.com

Internationale Vertriebsnetze

Region	Vertriebspräsenz
Europa	35 Länder
Asien	26 Länder
Lateinamerika	18 Länder

Skechers U.S.A., Inc. (SKX) – Geschäftsmodell: Kundensegmente

Kinder und Jugend

Skechers richtet sich mit mehreren Produktlinien an Kinder und Jugendliche im Alter von 5 bis 18 Jahren:

Altersgruppe	Marktsegment	Produktlinien	Geschätzter Marktanteil
5-10 Jahre	Lässige Kleidung für Kinder	Leuchtende Schuhe, Schuhe mit Charaktermotiv	37 % des Kinderschuhsegments
11-18 Jahre	Jugendleistung	Sportspezifische Sportschuhe	28 % des Marktes für Jugendschuhe

Verbraucher von Sport- und Leistungsschuhen

Die Performance-Abteilung von Skechers richtet sich an bestimmte sportliche Verbrauchersegmente:

• Laufbegeisterte: 124,5 Millionen US-Dollar Umsatz im Jahr 2022
• Verbraucher von Wanderschuhen: 22 % Marktanteil in der Kategorie „Komfortleistung“.
• Marathon- und Langstreckenläufer: 15 % Wachstum bei Spezialschuhlinien

Liebhaber von Freizeit- und Lifestyle-Schuhen

Segment	Durchschnittlicher Preispunkt	Jährlicher Verkauf	Verbraucherdemografie
Städtische Gelegenheitskonsumenten	$65-$85	412 Millionen Dollar	Alter 18–45, städtische Berufstätige
Lifestyle-Komfort-Suchende	$55-$75	389 Millionen US-Dollar	Im Alter von 25 bis 55 Jahren, komfortorientierte Verbraucher

Budgetbewusste Modekonsumenten

Skechers zielt auf preissensible Marktsegmente ab:

• Durchschnittliche Schuhpreisspanne: 40–90 $
• Rabattsegment: 28 % des Gesamtumsatzes
• Wertorientierte Online-Konsumenten: 35 % des Marktes für preisgünstige Schuhe

Globale städtische und vorstädtische Märkte

Region	Marktdurchdringung	Jahresumsatz	Wachstumsrate
Nordamerika	45 % Marktanteil	2,3 Milliarden US-Dollar	7,2 % jährliches Wachstum
Asien-Pazifik	28 % Marktanteil	1,5 Milliarden US-Dollar	9,6 % jährliches Wachstum
Europäische Märkte	18 % Marktanteil	892 Millionen US-Dollar	5,8 % jährliches Wachstum

Skechers U.S.A., Inc. (SKX) – Geschäftsmodell: Kostenstruktur

Herstellungs- und Produktionskosten

Für das Geschäftsjahr 2022 meldete Skechers Gesamtumsatzkosten von 3,67 Milliarden US-Dollar. Zu den Herstellungskosten des Unternehmens zählen:

Ausgabenkategorie	Betrag (2022)
Rohstoffkosten	1,42 Milliarden US-Dollar
Arbeitskosten	621 Millionen Dollar
Fertigungsaufwand	508 Millionen Dollar

Marketing- und Werbeinvestitionen

Skechers stellte im Jahr 2022 368,9 Millionen US-Dollar für Marketing- und Vertriebskosten bereit, darunter:

• Werbekampagnen
• Sponsoringverträge
• Digitale Marketinginitiativen
• Messeteilnahme

Globale Vertriebs- und Logistikkosten

Die Vertriebskosten für Skechers beliefen sich im Jahr 2022 auf rund 287,6 Millionen US-Dollar und umfassen:

• Versand und Transport
• Lagerbetrieb
• Internationale Logistik
• Bestandsverwaltung

Forschungs- und Entwicklungsausgaben

Im Jahr 2022 investierte Skechers 74,2 Millionen US-Dollar in Forschung und Entwicklung mit den Schwerpunkten:

F&E-Schwerpunktbereich	Investitionsprozentsatz
Produktinnovation	45%
Technologieintegration	30%
Materialforschung	25%

Betriebskosten des Einzelhandelsgeschäfts

Skechers meldete im Jahr 2022 Gesamtbetriebskosten für Einzelhandelsgeschäfte in Höhe von 512,3 Millionen US-Dollar, darunter:

• Miete eines Einzelhandelsgeschäfts
• Gehälter der Filialmitarbeiter
• Dienstprogramme und Wartung
• Technologieinfrastruktur im Laden

Zusammenfassung der Gesamtkostenstruktur für 2022:

Kostenkategorie	Gesamtkosten
Herstellung und Produktion	3,67 Milliarden US-Dollar
Marketing und Werbung	368,9 Millionen US-Dollar
Vertrieb und Logistik	287,6 Millionen US-Dollar
Forschung und Entwicklung	74,2 Millionen US-Dollar
Betrieb von Einzelhandelsgeschäften	512,3 Millionen US-Dollar

Skechers U.S.A., Inc. (SKX) – Geschäftsmodell: Einnahmequellen

Großhandelsverkauf von Produkten

Im Geschäftsjahr 2022 meldete Skechers einen Großhandelsumsatz von 2,86 Milliarden US-Dollar, was 57,9 % des Gesamtumsatzes des Unternehmens entspricht. Zu den Großhandelskanälen gehören:

• Inländischer Großhandelsverkauf an Einzelhändler
• Internationaler Großhandelsvertrieb

Aufschlüsselung der Großhandelsumsätze	Betrag 2022	Prozentsatz
Inländischer Großhandel	1,64 Milliarden US-Dollar	33.2%
Internationaler Großhandel	1,22 Milliarden US-Dollar	24.7%

Direktverkauf an Endverbraucher im Einzelhandel

Der Einzelhandelsumsatz im Direktvertrieb belief sich im Jahr 2022 auf insgesamt 1,58 Milliarden US-Dollar und machte 32 % des Gesamtumsatzes des Unternehmens aus.

• Firmeneigene Einzelhandelsgeschäfte
• Internationale, firmeneigene Einzelhandelsstandorte

Einnahmen aus E-Commerce-Plattformen

Der E-Commerce-Umsatz für 2022 erreichte 442,5 Millionen US-Dollar, was 8,9 % des Gesamtumsatzes des Unternehmens entspricht.

Internationale Marktexpansion

Der internationale Umsatz belief sich im Jahr 2022 auf 2,54 Milliarden US-Dollar, was 51,4 % des Gesamtumsatzes des Unternehmens ausmacht.

Internationale Markteinnahmen	Betrag 2022	Wachstumsrate
Asien-Pazifik	892 Millionen US-Dollar	12.3%
Europa	687 Millionen US-Dollar	8.5%
Amerika (ohne USA)	961 Millionen US-Dollar	15.2%

Lizenz- und Kooperationseinnahmen

Die Lizenzeinnahmen beliefen sich im Jahr 2022 auf 64,7 Millionen US-Dollar, was 1,3 % der Gesamteinnahmen des Unternehmens entspricht.

Lizenzpartner	Umsatzbeitrag
Lizenzen für Performance-Schuhe	37,2 Millionen US-Dollar
Lizenzen für Bekleidung und Accessoires	27,5 Millionen US-Dollar

Skechers U.S.A., Inc. (SKX) - Canvas Business Model: Value Propositions

You're looking at what makes Skechers U.S.A., Inc. tick right now, late in 2025. It's all about delivering comfort and value across a massive global scale, even while managing margin pressures from costs and tariffs. Here's the breakdown of the core value propositions driving their business.

Superior comfort and fit via proprietary technology

Skechers U.S.A., Inc. positions itself as The Comfort Technology Company®. This isn't just marketing fluff; it's backed by a portfolio of technologies, including Memory Foam, which has been around since 2013, and Arch Fit, introduced in 2021. The company's continued success, with record Q2 2025 sales hitting $2.44 billion, up 13.1% year-over-year, shows consumers are buying into this comfort promise. The CFO noted that the diverse portfolio of comfort technology products supported financial performance. The company is planning to open 180-200 new stores in 2025, expanding the physical touchpoints for experiencing this comfort.

Broad, multi-category product range for all ages and activities

The breadth of the offering is a key differentiator, supporting sales in Q2 2025 across both wholesale (up 15.0%) and direct-to-consumer (DTC) channels (up 11.0%). The product lines cover lifestyle and performance footwear, apparel, and accessories for men, women, and children. The brand's reach is extensive, with collections available in approximately 180 countries and territories. The company's Q1 2025 sales reached a record $2.41 billion, showing broad demand across its segments.

Here's a quick look at the recent financial scale supporting this broad range:

Metric	Q2 2025 Amount	Year-over-Year Change
Total Sales	$2.44 billion	+13.1%
H1 2025 Sales	$4.85 billion	+10.0%
International Sales (Q2 2025)	$1.58 billion	+22.0%
Gross Margin (Q2 2025)	53.3%	Down 160 basis points

Quality, innovative footwear at a reasonable, accessible price point

The value proposition hinges on delivering quality without the premium price tag. While the company saw its wholesale average selling price decline by 1.3% in Q1 2025, and DTC average selling price dropped 0.3%, the overall sales volume increased significantly, suggesting price accessibility is driving volume. The CFO projected stability or slight improvement in pricing for 2025, balancing innovation investment with consumer value. Historically, the average price of a pair of shoes dropped by $1 in 2022, settling at a mean price of $21.9. This focus on value is critical, especially as the operating margin narrowed to 7.1% in Q2 2025 from 9.6% the prior year, partly due to higher operating expenses.

Performance credibility in new sports (e.g., running, golf, pickleball)

Skechers U.S.A., Inc. is actively building performance credibility. The company expanded its product offerings to include basketball, soccer, and cricket footwear, supported by elite athlete endorsements. Search interest for running shoes shows growth, rising from an index of 16 to 21 by May 2025. Specifically for golf, men's Skechers Golf Shoes sales surged to 397 units/month by April 2025. The overall search volume for Skechers sneakers peaked at an index of 100 in May 2025, up 22% from June 2024, indicating strong general athletic appeal.

Hands-Free Slip-ins technology for ease of wear

The Hands-Free Slip-ins technology is a prime example of innovation focused on ease of use. Management views this as just one technology in a continuous cycle, noting it was integrated into new product features for 2025. The success of this innovation is likely channeled through the DTC segment, which delivered higher margins historically. The DTC channel grew by 11.0% in Q2 2025, outpacing the 15.0% wholesale growth in dollar terms but showing strong momentum for newer, proprietary product lines.

Skechers U.S.A., Inc. (SKX) - Canvas Business Model: Customer Relationships

You're looking at how Skechers U.S.A., Inc. (SKX) connects with its buyers as of late 2025. It's all about being present everywhere the customer might look, from the mall to their phone.

Omnichannel experience integrating physical stores and digital commerce

Skechers U.S.A., Inc. (SKX) maintains a strong physical footprint that feeds into its digital channels, creating a seamless path to purchase. International sales accounted for 65 per cent of the business in the first quarter of 2025, showing the global nature of this integration. The company's Q1 2025 revenue hit $2.41 billion, showing strong demand across both physical and digital touchpoints.

Here's a look at the channel breakdown based on Q1 2025 revenue figures:

Channel Segment	Q1 2025 Revenue Amount	Year-over-Year Growth (Q1 2025)
Total Revenue	$2.41 billion	7.1 per cent
Wholesale Sales (Total)	$1.53 billion	7.8 per cent
Direct-to-Consumer (DTC) Sales (Total)	$879.4 million	6 per cent
Domestic DTC Growth	N/A	11 per cent

Loyalty programs to drive repeat purchases and retention

The core of the retention strategy is the Skechers Plus loyalty program. This program is designed to reward engagement and purchases, though rules vary by region; for instance, in Canada, only purchases on Skechers.ca earn points, not retail store buys. You get tangible rewards for being part of the club.

Key benefits and redemption structures for Skechers Plus members include:

• Points redeemable for $5 reward certificates.
• Redemption occurs in 1,000-point increments.
• Access to FREE Standard shipping both ways on every order.
• Extended 90-day returns, which is 45 more days than non-members get.
• Instant reward of 1,000 points (an instant $5 reward in some regions) just for joining.

Direct engagement through company-owned retail stores

Direct engagement happens where customers can physically interact with the product. As of September 2025, Skechers U.S.A., Inc. (SKX) operated over 5,300 Skechers retail stores globally. This physical network, including new global performance-focused locations like the one recently opened in Miami, provides direct consumer touchpoints. The company's strong brick-and-mortar performance was recognized by Newsweek, naming it the country's number one footwear company at brick-and-mortar in its 2025 ranking.

Mass-market advertising and celebrity-driven brand awareness

Skechers U.S.A., Inc. (SKX) backs its product with significant spending to maintain broad awareness. In the last year leading up to late 2025, the company spent over $100 million on advertising across digital, print, and national TV formats. This spend supported campaigns for new product lines, including those featuring athletes like Matt Fitzpatrick and Joel Embiid. The brand's image is clearly resonating, as it appeared on Time's "World's Best Companies 2025" list for the second consecutive year. Also, the company advertised on over 250 different Media Properties in that same period. Finance: review Q1 2025 selling expenses as a percentage of sales to benchmark against this demand creation spend by next Tuesday.

Skechers U.S.A., Inc. (SKX) - Canvas Business Model: Channels

You see the distribution network for Skechers U.S.A., Inc. (SKX) is a multi-pronged approach, designed to capture global demand through various points of sale.

Wholesale distribution to established global retail partners remains a core component, driving significant volume through established relationships. For the first quarter of 2025, wholesale sales grew by 7.8% year-over-year, reaching $1.53 billion. This channel benefits from the brand's global momentum, with international wholesale specifically increasing by 9.5% in that same period.

The Direct-to-Consumer (DTC) through over 1,700 company-owned stores offers Skechers U.S.A., Inc. (SKX) direct control over the customer experience and branding. As of the end of the first quarter of 2025, the company operated 1,821 company-owned locations globally. DTC revenue for Q1 2025 grew 6% year-over-year to $879.4 million. Domestic DTC, in particular, showed robust growth of 11%.

The Global e-commerce platform (skechers.com and dedicated digital sites) is a critical part of the DTC strategy. While the flagship domain, skechers.com, generated annual sales (GMV) of $159 million in 2024, domestic DTC growth in Q1 2025 was explicitly driven by strong e-commerce performance. The company is actively investing in its operations to deliver an exceptional customer experience through this channel.

Finally, International distributors and franchisees operating over 3,500 third-party stores extend the brand's reach into markets where local expertise is key. Skechers U.S.A., Inc. (SKX) ended the first quarter of 2025 with a total global store count of 5,318, which includes these partner locations. The company has a stated plan to open an additional 150 to 170 company-owned stores worldwide during 2025, further expanding its physical footprint.

Here's a quick look at the scale of the physical and digital channels as reported around the first quarter of 2025:

Channel Metric	Count/Amount (Latest Available)	Period/Context
Total Global Stores	5,318	As of Q1 2025 End
Company-Owned Stores	1,821	As of Q1 2025 End
Company-Owned Stores in U.S.	610	As of February 2025
Third-Party Owned Stores (Distributor/Franchisee)	Over 3,500	Contextually current
Planned New Company-Owned Stores for 2025	150 to 170	2025 Plan Update

The physical network is segmented into distinct formats to optimize consumer access:

• Concept Stores targeting highest-traffic destinations.
• Outlet Stores reaching more consumers in premium centers.
• Superstores offering a large format with dedicated collection shops.

The revenue contribution from the primary sales channels in Q1 2025 shows the balance:

• Wholesale Revenue: $1.53 billion.
• Direct-to-Consumer (DTC) Revenue: $879.4 million.
• International Sales Contribution to Total Revenue: 65%.

Skechers U.S.A., Inc. (SKX) - Canvas Business Model: Customer Segments

Skechers U.S.A., Inc. targets a broad spectrum of consumers, which is reflected in its financial performance, such as achieving record sales of $8.97 billion in 2024. The company's Q1 2025 sales hit a record of $2.41 billion.

The core customer base is segmented by need, lifestyle, and geography:

• Mass-market consumers seeking everyday comfort and value, primarily targeting households earning between $50,000 to $100,000 annually.
• Families, with women representing over 60% of the consumer base.
• Performance and lifestyle consumers, evidenced by growing interest in running shoes and golf footwear.
• Global consumers, supported by a retail footprint of 5,318 stores worldwide as of March 31, 2025.

The emphasis on global reach is a defining characteristic, with international markets driving significant top-line growth. For instance, international sales accounted for 61% of total sales in 2024.

Segment Characteristic	Key Metric/Data Point	Source Year/Period
Global Consumer Reach	5,318 total retail stores worldwide	As of March 31, 2025
International Revenue Share	61% of total sales	2024
Primary Income Target	Households earning $50,000 to $100,000 annually	General Demographic
Gender Skew	Women account for over 60% of consumers	General Demographic
Performance Interest (Running)	Search volume for running shoes grew from 16 to 21	By May 2025
Performance Interest (Golf)	Men's Golf Shoes search volume reached 15.0	By February 2025

The company's strategy supports diverse needs across age groups, with strong representation in the 25-34 and 55-64 age brackets. The expansion into specialized sports categories, like soccer and basketball footwear, is supported by athlete endorsements to capture performance-oriented buyers.

The geographic segmentation shows robust international growth contributing to overall revenue:

• EMEA wholesale grew 16.7% in a recent fiscal period.
• EMEA direct-to-consumer saw a 38.3% increase in a recent fiscal period.
• International sales grew 7.2% in Q1 FY 2025.
• The Americas region showed a 14.5% wholesale growth in Q4 2024.

The company projects full-year 2025 sales between $9.7 billion and $9.8 billion.

Skechers U.S.A., Inc. (SKX) - Canvas Business Model: Cost Structure

You're looking at the hard costs that drive Skechers U.S.A., Inc.'s operations as of late 2025. This isn't about the exciting product launches; it's about the necessary spending to keep the global machine running.

Cost of Goods Sold (COGS) from outsourced global manufacturing

The cost to make the shoes is a massive line item, reflecting the outsourced global manufacturing model. For the latest twelve months ending near the search cutoff, the Cost of Goods Sold for Skechers U.S.A., Inc. hit $4.455 billion. Looking back, the annual COGS for fiscal year 2024 was $4.202 billion, up from $3.848 billion in fiscal year 2023. The gross margin, which is what's left after COGS, showed some fluctuation; for the second quarter of 2025, the gross margin stood at 53.3%, while the first half of 2025 saw a gross margin of 52.7%.

Here's a quick look at the trend:

• TTM Cost of Goods Sold (late 2025 estimate): $4.455 billion
• Fiscal Year 2024 Cost of Goods Sold: $4.202 billion
• Fiscal Year 2023 Cost of Goods Sold: $3.848 billion

Significant Selling, General, and Administrative (SG&A) expenses for marketing

SG&A covers the overhead to sell and run the business, and marketing, or demand creation, is a big piece of that. In the first quarter of 2025, total operating expenses were $989.2 million, representing 41.0% of sales. The selling component, which includes marketing, saw selling expenses increase by 18.3% year-over-year in Q1 2025, reaching 7.7% of sales. This increase was directly tied to higher global demand creation expenditures. General and administrative costs, covering things like labor and facilities, represented 33.3% of sales in that same quarter.

Capital expenditure for infrastructure expansion (planned $375 million to $400 million)

Skechers U.S.A., Inc. is putting capital to work to support its growth targets. The planned capital expenditure to support key initiatives like store openings, omnichannel expansion, and enhancing distribution infrastructure is set between $375 million and $400 million for the year. To give you context on recent spending, capital expenditures for the fourth quarter of 2024 included $54.5 million for distribution infrastructure and $51.3 million for direct-to-consumer technologies.

This planned investment is part of the larger strategy aiming for $10 billion in annual sales by 2026.

Operating costs for a large, expanding global retail store fleet

Running thousands of stores globally means significant fixed and semi-fixed operating costs, primarily rent, utilities, and store labor, which fall under SG&A. As of the first quarter of 2025, Skechers U.S.A., Inc. operated approximately 5,296 stores worldwide. Of those, 1,787 were company-owned locations. The company is actively expanding this fleet, planning to open between 180 and 200 new locations throughout 2025. Facility costs, which include rent and depreciation for these stores, are a major driver of the General and Administrative portion of SG&A.

Here's the store footprint as of early 2025:

Metric	Amount
Total Skechers Stores Worldwide (Q1 2025)	5,296
Company-Owned Stores (Q1 2025)	1,787
Third Party-Owned Stores (Q1 2025 Estimate)	More than 3,500
Planned Store Openings for 2025	180 to 200

Logistics and distribution costs for a worldwide omnichannel network

Moving product globally through wholesale and direct-to-consumer channels involves substantial logistics spending. In 2024, the company dealt with supply chain cost pressures, including an estimated $90 million in excess warehousing and distribution related costs due to inventory timing issues. The company is also navigating new cost factors, such as the potential impact of recently announced incremental US tariffs on goods from China, which management noted impacted visibility into the 2025 outlook. On the packaging side, Skechers U.S.A., Inc. has focused on efficiency, reducing plastic usage in its shoe packaging by 85% since 2016, which helps optimize space and potentially lower freight costs.

Logistics costs are a key variable in COGS and operating expenses, as evidenced by the historical volatility in freight rates, which previously saw 40-foot high cube container rates jump from about $3,000 to $25,000.

Finance: draft 13-week cash view by Friday.

Skechers U.S.A., Inc. (SKX) - Canvas Business Model: Revenue Streams

You're looking at the money Skechers U.S.A., Inc. brings in, which is a mix of selling shoes and other goods through different channels globally. Honestly, the numbers show a strong reliance on moving product through partners and directly to the customer.

The company has a stated full-year 2025 revenue guidance projected to be between $9.7 billion and $9.8 billion. This projection was issued despite the company withdrawing its initial annual guidance due to macroeconomic uncertainty, such as global trade policies.

For the first half of 2025, Skechers U.S.A., Inc. reported total sales of $4.8516 billion for the six months ended June 30, 2025. The trailing twelve months (TTM) revenue, as of the second quarter of 2025, stood at $9.41 Billion USD.

The revenue streams are primarily segmented by how the product reaches the customer, with footwear being the core driver, although revenue from apparel and accessories contributes to the total.

Here is a look at the breakdown based on the first quarter of 2025 results:

Revenue Stream Component	Q1 2025 Revenue Amount	Year-over-Year Growth (Q1 2025)
Wholesale sales	$1.53 billion	7.8% increase
Direct-to-Consumer (DTC) sales	$879.4 million	6.0% increase
Total Q1 2025 Revenue	$2.41 billion	7.1% increase

The wholesale channel involves sales to department stores and specialty retailers. For example, in the first quarter of 2025, the domestic wholesale segment grew by 4.2%, while international wholesale increased by 9.5%.

Direct-to-Consumer (DTC) sales are generated from company-owned stores and e-commerce. The domestic DTC portion saw a robust 11% increase in Q1 2025, while international DTC grew by 2.9% year-over-year for that quarter. In the second quarter of 2025, the DTC segment grew by 11.0% overall.

Skechers U.S.A., Inc. also generates revenue through licensing and royalty fees from international distributors and franchisees, though specific financial figures for this stream were not separately itemized in the provided quarterly reports for the channels above.

The composition of revenue streams includes:

• Wholesale sales to department stores and specialty retailers.
• Direct-to-Consumer (DTC) sales from company-owned stores and e-commerce.
• Licensing and royalty fees from international distributors and franchisees.
• Revenue from apparel and accessories, which is secondary to footwear sales.