Skechers Goes Private in $9.4 Billion Deal as Founder Exits the Spotlight
May/06/2025
After decades of running Skechers as a maverick public firm, CEO Robert Greenberg has agreed to sell the company to private-equity firm 3G Capital in a $9.4 billion deal, marking a new chapter for the third-largest footwear brand globally. Known for shunning Wall Street rituals and maintaining tight family control — his son Michael Greenberg is president — Greenberg will retain operational leadership and a stake in the newly private entity. Shareholders are being offered $63 per share in cash, or $57 plus a minority stake. The move comes amid trade headwinds and declining stock performance, with Skechers recently withdrawing its financial outlook as tariffs on China — where 40% of its products originate — tighten. The company, headquartered in Manhattan Beach and founded in 1992, is eyeing $10 billion in sales by 2026, bolstered by performance lines like GOrun and celebrity endorsements. Notably, its most recent trademark filing, SLIPPER FIT, visualized below, was submitted in April 24, 2025 for footwear. With 2024 global sales reaching $9 billion and U.S. brand awareness exceeding 90%, Skechers remains a formidable force in the global sneaker market—even as it transitions from public scrutiny to private ambition.
