US shoe retailer Skechers USA Inc. secures control of its distribution in the Nordic countries. On Thursday, the company announced that it had signed an agreement to acquire its local distributor, Sports Connection Holding ApS. Financial details of the proposed purchase have not been released.
Sports Connection currently operates 58 stores as well as Skechers’ e-commerce and wholesale business in the region. After the completion of the transaction, the Danish company will become a wholly owned subsidiary of Skechers, according to a statement. In the future, your task will be to “drive the continued growth of the brand in Denmark, Finland, Norway, Sweden and Greenland as well as on the Faroe Islands,” the group said.
David Weinberg, the Chief Operating Officer (COO) of Skechers, explained the background of the acquisition: “With the planned acquisition of our long-standing and successful sales partner in Scandinavia, we are integrating the Sports Connection team even more closely into the Skechers family,” he explained in a message. “We look forward to further expanding our presence in Europe by combining the team’s local knowledge with our global capabilities and financial resources.”