Global Footwear Company Signs Distribution Deal with Leading Partner in World’s Second Most Populated Country
New Delhi, October 7, 2009: SKECHERS USA, Inc. (NYSE: SKX), a global leader in the lifestyle footwear industry, today announced that it has signed a deal with Winner Sports Pvt. Ltd. to license and distribute SKECHERS footwear and apparel in India.
Winner Sports is a wholly-owned subsidiary of Pantaloon Retail India Ltd., part of Future Group. Future Group is an Indian business house that operates the country’s leading retail and distribution chains along with allied businesses in the consumption space. This deal unites SKECHERS with a partner who has the experience and infrastructure to reach a wide cross-section of the billion-plus consumers within this fast-growing nation.
“We’re very excited to grow SKECHERS in India, a mega-market filled with mega potential,” began Michael Greenberg, president of SKECHERS. “Our partnership with Winner Sports will be a key factor in reaching that potential, and we believe India will contribute to international growth and positively impact our business in the next two to three years.”
Over the last three years, SKECHERS has solidified the brand in some of the largest markets around the world by launching a subsidiary in Brazil and establishing a successful joint venture in China. Along with current distribution in Indonesia and the Company’s powerhouse brand status in the United States, the India deal will elevate SKECHERS as a footwear leader in the top five most populated countries and around the world.
“SKECHERS is the perfect brand for India,” said Ravdeep Singh, CEO of Winner Sports. “Indian consumers desire fashionable product at an attractive price and SKECHERS meets both of those demands. We look forward to leveraging our lifestyle and retail experience to make the brand a great success here.”
Winner Sports will launch SKECHERS in India in November with select styles from SKECHERS men’s and women’s lines. SKECHERS Kids will be added to the collection in 2010. Additionally, licensed apparel will be produced within India and is expected to debut in Spring 2010.
Future Group operates India’s leading retail chains like Big Bazaar, Pantaloons, Central and Planet Sports that are present in 73 cities and 65 rural locations throughout the country. Leveraging this robust and deep Group penetration, Winner Sports plans to aggressively roll out SKECHERS product to more than 75 retail stores and key accounts within two years.
“We’ve been waiting for the right time and partner to properly grow the brand in India,” said Marvin Bernstein, managing partner for SKECHERS, S.à.r.l. “The current political landscape, combined with the retail capabilities of Winner Sports, has now opened the door for SKECHERS to find new opportunity and success in this exploding market.”
About Winner Sports Pvt. Ltd.
Winner Sports, a fully-owned subsidiary of Pantaloon Retail India Limited, operates Planet Sports, the country’s leading multi-brand sports lifestyle retail chain with over 65 specialty stores. The Company also has a distribution presence in additional Future Group formats like Pantaloon, Central and Brand Factory in over 40 cities across India. As a licensee, distributor and retailer, Planet Sports carries India’s largest collection of international sports and lifestyle brands including Speedo, Converse, Wilson, Mitre, Callaway, Spalding, Prince, Etonic, Reebok, Nike, Adidas, and Puma, to name a few. The Planet Sports stores have an extensive offering of lifestyle products, sportswear and equipment across all categories.
About Skechers USA, Inc.
SKECHERS USA, Inc., based in Manhattan Beach, California, designs, develops and markets a diverse range of footwear for men, women and children under the SKECHERS name, as well as under several uniquely branded names. SKECHERS footwear is available in the United States via department and specialty stores, Company-owned SKECHERS retail stores and its e-commerce website, as well as in over 100 countries and territories through the Company’s global network of distributors and subsidiaries in Canada, Brazil, Chile, and across Europe, as well as through joint ventures in Asia. For more information, please visit www.skechers.com.
For more details, contact:
Ramesh Kaushik, Planet Sports, 9999090100
Rashmi Chakraborthy, Brand Comm: 9810192347
Deep Shikha Mahajan, Brand Comm: 9811784064
For further information please contact
Mr. Atul Takle
Head - Corporate Communications
Pantaloon Retail (India) Limited