Skechers opens 5,000th store and wants to expand further

The US shoe manufacturer Skechers USA Inc. has passed a symbolic milestone on its expansion path. The company announced on Thursday that the brand’s 5,000th store had opened in the Colombian capital Bogotá.

But it shouldn’t stay that way. For the current year alone, Skechers plans to open 140 to 160 of its own stores, President Michael Greenberg said in a statement. In addition, there are “hundreds” of new brand stores every year, which are run by sales partners. The long-term goals are correspondingly ambitious: the company is “on the way to 10,000 Skechers stores,” announced Greenberg.

The fast-growing sneaker specialist increased its sales to over eight billion US dollars for the first time in the most recent financial year, 2023, and also significantly improved its profits. For the current year, Skechers is targeting sales growth to between $8.60 and $8.80 billion.