Skechers is making headlines with a series of significant developments, including the opening of its first performance-focused store in Europe and a monumental $9 billion go-private deal with Brazilian private-equity firm 3G Capital. As the company transitions into private ownership, it continues to expand its retail footprint globally, showcasing a commitment to innovation and performance in the footwear industry.
On May 8, 2025, Skechers opened its new 7,700-square-foot store at Veldstraat 94 in Ghent, Belgium. This store represents a strategic move into the European market, emphasizing the brand's focus on performance footwear. The store features a modern architectural design, highlighted by state-of-the-art digital LED screens that display the extensive range of footwear, apparel, and accessories available.
Michael Greenberg, president of Skechers, expressed enthusiasm about the new store, calling the performance line a "game-changer" for the category. He stated, "This [store] will enable more athletes and enthusiasts to discover our signature comfort that performs, alongside consumers of every age who wear our lifestyle product." This sentiment reflects Skechers' aim to cater to a diverse customer base, from serious athletes to casual shoppers.
Located on a pedestrianized street that attracts approximately eight million visitors each year, the Ghent store is positioned to capture the attention of both locals and tourists. Maurice van Berkel, general manager of Skechers USA Benelux B.V., remarked, "Consumers in Belgium are familiar with our brand and its comfort—and with this store joining our current locations in Brussels, Antwerp and other destinations, we now have a retail presence in our three largest cities and beyond—offering more access than ever to the product portfolio that Skechers is known for around the world."
This new store in Ghent joins eight other Skechers retail locations across Belgium, with plans for an additional store to open in Messancy later this summer. The expansion into Europe follows the launch of the performance store concept in January at West Edmonton Mall in Canada, which features a similar immersive shopping experience.
On May 5, 2025, Skechers announced its landmark deal with 3G Capital, marking the largest shoe buyout in history. The deal, which is expected to close in the third quarter of 2025, will see Skechers transition to private ownership while maintaining its current leadership structure. Robert Greenberg will continue as chairman and CEO, with Michael Greenberg serving as president alongside the existing management team.
The sale to 3G Capital is seen as a pivotal moment for Skechers, as it aims to leverage the resources and expertise of the private-equity firm to accelerate growth and innovation. This strategic move is expected to enhance Skechers' ability to compete in the fast-evolving footwear market.
As part of its ongoing expansion, Skechers is also closing part of Manhattan Beach road for a year, which is part of its construction plans related to the new developments. This closure, effective from May 7, 2025, reflects the brand's commitment to enhancing its operational capabilities and retail presence.
Skechers' recent activities underline a broader trend in the footwear industry, where brands are increasingly focusing on performance-driven products that cater to a health-conscious consumer base. The company's emphasis on comfort and performance is resonating well with customers, as evidenced by the positive reception of its new store concepts.
In addition to its performance-focused offerings, Skechers continues to innovate across its lifestyle product lines, ensuring that it remains relevant in a competitive marketplace. The brand's ability to adapt to consumer preferences while expanding its global footprint is a testament to its strategic vision and operational execution.
The opening of the Ghent store and the acquisition by 3G Capital are expected to significantly impact Skechers' trajectory in the coming years. As the company navigates this transition, it remains focused on delivering quality products and enhancing the shopping experience for its customers.
With a strong presence in key markets and an unwavering commitment to innovation, Skechers is poised for continued success in the footwear industry. The combination of strategic partnerships, expansion into new markets, and a focus on performance-driven products positions the brand well for future growth.
As Skechers moves forward, it will be interesting to see how the company leverages its new ownership structure and retail innovations to further solidify its position as a leader in the global footwear market. The developments in Ghent and the significant acquisition signal a bright future for the brand, promising exciting opportunities for consumers and investors alike.
