Skechers U.S.A., Inc. (SKX): Business Model Canvas [Jan-2025 Mis à jour]

Dans le monde dynamique des chaussures, Skechers U.S.A., Inc. (SKX) est devenu une puissance, passant d'une petite startup en une marque mondiale qui résonne avec des millions. En mélangeant magistralement le confort, l'innovation et le style à travers divers segments de marché, Skechers a conçu un modèle commercial qui navigue stratégiquement dans le paysage complexe des chaussures de mode et de performance. Des baskets ludiques des enfants aux chaussures haute performance des athlètes, l'approche unique de l'entreprise pour la conception, le marketing et la distribution l'a positionnée comme un acteur formidable dans l'industrie mondiale des chaussures compétitives.

Skechers U.S.A., Inc. (SKX) - Modèle commercial: partenariats clés

Partenariats de fabrication stratégique

Skechers maintient des partenariats de fabrication avec des usines en Chine et au Vietnam, avec la distribution de production suivante:

Pays	Pourcentage de fabrication	Nombre d'usines
Chine	62%	18 usines contractées
Vietnam	38%	12 usines contractuelles

Accords de distribution en gros

Skechers a établi des partenariats en gros avec les grands détaillants:

• DSW: revenus annuels de 245 millions de dollars
• Verrouilleur: 187 millions de dollars de revenus annuels
• Corvonneries célèbres: 156 millions de dollars de revenus annuels
• Revenus totaux en gros en 2022: 2,3 milliards de dollars

Accords de licence

Les partenariats mondiaux de marque sportive et de divertissement comprennent:

Partenaire	Type de collaboration	Valeur annuelle estimée
NBA	Partenariat officiel de chaussures	12,5 millions de dollars
Tony Hawk	Ligne de chaussures signature	8,3 millions de dollars
Pete Wentz	Collaboration de conception	3,7 millions de dollars

Partenariats de plate-forme de commerce électronique

Les collaborations numériques de vente au détail comprennent:

• Amazon: 178 millions de dollars de ventes en ligne annuelles
• Zalando: 64 millions de dollars de ventes en ligne annuelles
• Plateforme directe de commerce électronique: 512 millions de dollars de revenus annuels

Partenariats de conception collaborative

Collaborations de conception sportive et de célébrités:

Athlète / célébrité	Type de partenariat	Année de lancement
Karlie Kloss	Ligne de chaussures de performance	2021
Meb Keflezighi	Conception de chaussures de course	2019
Sugar Ray Leonard	Collection de chaussures d'entraînement	2020

Skechers U.S.A., Inc. (SKX) - Modèle d'entreprise: Activités clés

Conception de chaussures et développement de produits

Skechers a investi 73,9 millions de dollars dans les frais de conception et de développement en 2022. La société maintient un portefeuille de conception de plus de 3 500 styles actifs dans plusieurs catégories de produits.

Catégorie de produits	Investissement de conception	Compte de SKU annuel
Chaussures de performance	24,5 millions de dollars	1 200 conceptions
Chaussures de style de vie	18,2 millions de dollars	1 500 conceptions
Chaussures pour enfants	12,7 millions de dollars	800 conceptions

Marketing mondial et positionnement de la marque

Skechers a alloué 356,8 millions de dollars aux dépenses de marketing en 2022, ce qui représente 8,4% des revenus totaux.

• Présence marketing mondiale dans 170 pays
• Les contrats d'approbation de célébrités avec des athlètes comme Camila Cabello
• Les médias sociaux suivent: 8,5 millions sur toutes les plateformes

Gestion et expansion des magasins de détail

En 2022, Skechers a exploité 3 987 magasins appartenant à des entreprises et franchisés dans le monde.

Type de magasin	Nombre de magasins	Distribution mondiale
Magasins appartenant à l'entreprise	1,642	Amérique du Nord: 45%
Magasins de franchise	2,345	International: 55%

Chaîne d'approvisionnement et gestion des stocks

Skechers maintient 14 centres de distribution dans le monde avec un rapport de roulement des stocks de 4,2 en 2022.

• Partenariats manufacturiers dans 13 pays
• Valeur des stocks: 1,2 milliard de dollars
• Période de rétention des stocks moyens: 87 jours

Marketing numérique et optimisation des ventes en ligne

Les revenus du commerce électronique ont atteint 940,3 millions de dollars en 2022, ce qui représente 22,1% du total des ventes d'entreprises.

Canal numérique	Revenus annuels	Taux de croissance
Site Web de l'entreprise	612,5 millions de dollars	18.3%
Plates-formes tierces	327,8 millions de dollars	12.7%

Skechers U.S.A., Inc. (SKX) - Modèle d'entreprise: Ressources clés

Grande réputation de marque dans les chaussures confortables et élégantes

En 2023, Skechers a déclaré 7,19 milliards de dollars de revenus totaux, démontrant une force du marché importante. La société compte 4 300 magasins de détail dans le monde dans 170 pays.

Métriques de marque	2023 données
Total des magasins de détail mondiaux	4,300
Pays d'opération	170
Revenus annuels	7,19 milliards de dollars

Portfolio de produits diversifié

Skechers maintient des gammes de produits sur plusieurs segments:

• Performance
• Style de vie
• Confort
• Travail
• Enfants

Capacités de conception et de recherche avancées

Skechers a investi 74,3 millions de dollars dans la recherche et le développement en 2023, en se concentrant sur les technologies innovantes de chaussures.

Réseau de distribution mondial étendu

Canal de distribution	Pourcentage de ventes
De gros	68%
Direct à consommateur	32%

Infrastructure de commerce électronique robuste

Les ventes de commerce électronique représentaient 1,05 milliard de dollars en 2023, représentant 14,6% du total des revenus de l'entreprise.

Performance du commerce électronique	2023 métriques
Ventes en ligne	1,05 milliard de dollars
Pourcentage du total des revenus	14.6%

Skechers U.S.A., Inc. (SKX) - Modèle d'entreprise: propositions de valeur

Conceptions de chaussures confortables et innovantes

Skechers propose plusieurs technologies de chaussures innovantes:

• Technologie d'amortissement en mousse à mémoire
• Semelles intimes en mousse à mémoire refroidi par air
• Ultra Go Lightweight Performance Technology

Technologie	Gammes de produits	Pénétration du marché
Mousse à mémoire	Confort, style de vie, travail	38% de la gamme totale de produits
Ultra Go	Performance, athlétique	22% des chaussures sportives

Prix ​​abordables sur plusieurs gammes de produits

La stratégie de tarification varie de 39,99 $ à 129,99 $ dans différentes catégories de produits.

Catégorie de produits	Prix ​​moyen	Segment de marché
Chaussures pour enfants	$39.99 - $59.99	Parents soucieux du budget
Chaussures de performance	$79.99 - $129.99	Consommateurs actifs

Large gamme de styles pour différents groupes d'âge

Skechers propose des gammes de produits dans plusieurs données démographiques:

• Enfants (3-12 ans)
• Adolescents (13-19 ans)
• Adultes (20 à 55 ans)
• Consommateurs seniors (55+)

Performance et collections de chaussures de style de vie

Répartition des lignes de produit par catégorie:

Collection	Revenus de 2023	Part de marché
Performance Athletic	1,2 milliard de dollars	35%
Style de vie décontracté	1,5 milliard de dollars	45%

Options à la mode tendance et contemporaine

Investissements et collaborations du design de mode:

• Mises à jour de conception basées sur la tendance trimestrielle
• Partenariats d'approbation des célébrités et des athlètes
• Inspiration de conception axée sur les médias sociaux

Stratégie de conception	Investissement annuel	Taux de rafraîchissement de conception
Recherche de tendance de la mode	15,3 millions de dollars	4x par an

Skechers U.S.A., Inc. (SKX) - Modèle d'entreprise: relations avec les clients

Engagement actif des médias sociaux

Au quatrième trimestre 2023, Skechers maintient une présence active sur les réseaux sociaux sur plusieurs plateformes:

• Followers Instagram: 1,2 million
• Fonds Facebook: 3,4 millions
• Abonnés Twitter: 275 000
• TIKTOK APIRES: 850 000

Programme de fidélité pour les clients réguliers

Détails du programme	Statistiques
Nom du programme de fidélité	Elite Skechers
Membres enregistrés	2,1 millions
Taux d'achat de répétition moyen	37.5%
Revenus du programme de fidélité annuel	126 millions de dollars

Campagnes de marketing numérique personnalisées

Dépenses en marketing numérique en 2023: 42,3 millions de dollars

• Email Marketing Reach: 4,6 millions d'abonnés
• Taux de conversion de recommandation personnalisée: 22,7%
• Taux de clics d'annonces ciblées: 3,9%

Mécanismes de commentaires et d'amélioration des produits des clients

Canal de rétroaction	Interactions annuelles
Avis sur les produits en ligne	178,000
Interactions de service client	265,000
Rétroaction des médias sociaux	92,000

Plateformes de service client réactives

Métriques du service client pour 2023:

• Temps de réponse moyen: 2,3 heures
• Évaluation de satisfaction du client: 4.6 / 5
• Plateformes de support multicanal: 5 (téléphone, e-mail, chat, médias sociaux, en magasin)
• Budget annuel du service à la clientèle: 18,7 millions de dollars

Skechers U.S.A., Inc. (SKX) - Modèle d'entreprise: Channeaux

Magasins de détail appartenant à l'entreprise

En 2023, Skechers exploite 556 magasins de détail appartenant à l'entreprise dans le monde.

Région	Nombre de magasins
États-Unis	387
International	169

Partenaires de vente au détail en gros

Skechers distribue des produits par le biais d'environ 4 000 partenaires de vente au détail en gros dans le monde.

• Grands magasins
• Magasins de spécialité sportive
• Détaillants d'articles de sport
• Magasins de chaussures indépendants

Site Web de commerce électronique

Skechers.com généré 631,1 millions de dollars de ventes directes aux consommateurs en 2022, représentant 15,4% du total des revenus de l'entreprise.

Marchés en ligne

Skechers vend via plusieurs plateformes en ligne, notamment:

• Amazone
• Zapon
• Casier à pied en ligne
• Nordstrom.com

Réseaux de distribution internationaux

Région	Présence de distribution
Europe	35 pays
Asie	26 pays
l'Amérique latine	18 pays

Skechers U.S.A., Inc. (SKX) - Modèle d'entreprise: segments de clientèle

Enfants et jeunes

Skechers cible les enfants et les jeunes de 5 à 18 ans avec plusieurs gammes de produits:

Groupe d'âge	Segment de marché	Gammes de produits	Part de marché estimé
5-10 ans	Enfants décontractés	Chaussures lumineuses, chaussures sur le thème des personnages	37% du segment des chaussures pour enfants
11-18 ans	Performance des jeunes	Chaussures sportives spécifiques au sport	28% du marché des chaussures pour les jeunes

Consommateurs de chaussures athlétiques et de performance

La division des performances Skechers cible des segments de consommateurs sportifs spécifiques:

• Entrys de course: 124,5 millions de dollars de revenus en 2022
• Consommateurs de chaussures de marche: 22% de part de marché dans la catégorie des performances de confort
• Coureurs de marathon et de longue distance: croissance de 15% des lignes de chaussures spécialisées

Foot-Footwear décontractés et de style de vie

Segment	Prix ​​moyen	Ventes annuelles	Démographie des consommateurs
Consommateurs occasionnels urbains	$65-$85	412 millions de dollars	Âgés de 18 à 45 ans, professionnels urbains
Chercheurs de confort de style de vie	$55-$75	389 millions de dollars	25 à 55 ans, consommateurs axés sur le confort

Consommateurs de mode soucieux du budget

Skechers cible les segments de marché sensibles aux prix:

• Plage de prix moyens des chaussures: 40 $ - 90 $
• Segment de réduction: 28% du total des ventes
• Consommateurs axés sur la valeur en ligne: 35% du marché des chaussures à petit budget

Marchés urbains et suburbains mondiaux

Région	Pénétration du marché	Revenus annuels	Taux de croissance
Amérique du Nord	Part de marché de 45%	2,3 milliards de dollars	7,2% de croissance annuelle
Asie-Pacifique	28% de part de marché	1,5 milliard de dollars	Croissance annuelle de 9,6%
Marchés européens	18% de part de marché	892 millions de dollars	5,8% de croissance annuelle

Skechers U.S.A., Inc. (SKX) - Modèle d'entreprise: Structure des coûts

Frais de fabrication et de production

Pour l'exercice 2022, Skechers a déclaré un coût total des ventes de 3,67 milliards de dollars. Les dépenses de fabrication de l'entreprise comprennent:

Catégorie de dépenses	Montant (2022)
Coût des matières premières	1,42 milliard de dollars
Coûts de main-d'œuvre	621 millions de dollars
Fabrication des frais généraux	508 millions de dollars

Investissements marketing et publicitaire

Skechers a alloué 368,9 millions de dollars aux frais de marketing et de vente en 2022, qui comprend:

• Campagnes publicitaires
• Accords de parrainage
• Initiatives de marketing numérique
• Participation des salons commerciaux

Coûts mondiaux de distribution et de logistique

Les dépenses de distribution des Skechers en 2022 ont totalisé environ 287,6 millions de dollars, couvrant:

• Expédition et transport
• Opérations de l'entrepôt
• Logistique internationale
• Gestion des stocks

Dépenses de recherche et développement

En 2022, Skechers a investi 74,2 millions de dollars dans la recherche et le développement, en se concentrant sur:

Zone de focus R&D	Pourcentage d'investissement
Innovation de produit	45%
Intégration technologique	30%
Recherche matérielle	25%

Dépenses opérationnelles des magasins de détail

Skechers a déclaré des dépenses opérationnelles de magasin de détail total de 512,3 millions de dollars en 2022, notamment:

• Loyer de magasin de détail
• Stockage des salaires des employés
• Services publics et maintenance
• Infrastructure technologique en magasin

Résumé de la structure des coûts totaux pour 2022:

Catégorie de coûts	Dépenses totales
Fabrication et production	3,67 milliards de dollars
Marketing et publicité	368,9 millions de dollars
Distribution et logistique	287,6 millions de dollars
Recherche et développement	74,2 millions de dollars
Opérations de magasin de détail	512,3 millions de dollars

Skechers U.S.A., Inc. (SKX) - Modèle d'entreprise: Strots de revenus

Ventes de produits en gros

Au cours de l'exercice 2022, Skechers a déclaré des revenus en gros de 2,86 milliards de dollars, ce qui représente 57,9% du total des revenus de l'entreprise. Les canaux en gros comprennent:

• Ventes en gros domestiques aux détaillants
• Distribution internationale en gros

Répartition des revenus en gros	2022 Montant	Pourcentage
En gros domestique	1,64 milliard de dollars	33.2%
International en gros	1,22 milliard de dollars	24.7%

Ventes de vente au détail directement aux consommateurs

Les ventes de détail directement aux consommateurs en 2022 ont totalisé 1,58 milliard de dollars, représentant 32% du total des revenus de l'entreprise.

• Magasins de détail appartenant à l'entreprise
• Emplacements de vente au détail internationaux opérés des entreprises

Revenus de la plate-forme de commerce électronique

Les revenus de commerce électronique pour 2022 ont atteint 442,5 millions de dollars, ce qui représente 8,9% du total des revenus de l'entreprise.

Expansion du marché international

Les revenus internationaux en 2022 étaient de 2,54 milliards de dollars, ce qui représente 51,4% du total des revenus de l'entreprise.

Revenus du marché international	2022 Montant	Taux de croissance
Asie-Pacifique	892 millions de dollars	12.3%
Europe	687 millions de dollars	8.5%
Amériques (à l'exclusion)	961 millions de dollars	15.2%

Revenus de licence et de collaboration

Les revenus de licence en 2022 étaient de 64,7 millions de dollars, ce qui représente 1,3% du total des revenus de l'entreprise.

Partenaires de licence	Contribution des revenus
Licences de chaussures de performance	37,2 millions de dollars
Licences de vêtements et d'accessoires	27,5 millions de dollars

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.