• by Sarah Mahoney  @mahoney_sarah, October 27, 2023

Terance Mann for Skechers

Skechers, riding high on relaxed street-wear collaborations with everyone from Snoop Dogg to Martha Stewart to the Rolling Stones, wants to prove it’s got game.

Working with Julius Randle of the New York Knicks and Terance Mann of the LA Clippers, the company is making its official basketball debut, stepping onto the court just in time for the start of the NBA Season.

The two stars have been practicing in the shoes for weeks. They will appear in marketing campaigns and act as brand ambassadors.

The move follows Skechers' steady march into performance categories, including running, golf, pickleball, and global football. With each launch, they are building on the brand positioning, fusing innovative technologies and the brand’s signature comfort.

In the announcement, the company is clear that its goal is world dominationL “Along with our recent entry into the soccer business, Skechers now offers high-performance footwear for athletes competing in the two biggest sports on the planet,” says Michael Greenberg, president of Skechers. “This is the start of a long-term investment in basketball with more player partnerships, which is essential for our growth strategy and vision.”

In announcing third-quarter financial results this week, the Los Angeles-based footwear company says it is stepping up its marketing spending to support basketball and soccer and more established lines.

Sales climbed to $2.02 billion for the quarter, an increase of 7.8% from last year’s $1.88 billion. Direct-to-consumer sales shot up 23.8%, while wholesale results dipped 1%.

And unlike rival Nike, which is losing ground in North America, Skechers saw sales growth in the U.S., up 7%. In China, sales jumped 18%.

Net earnings leaped to $145.5 million, up from $85.9 million last year.

The company says results got a boost from its Snoop Dogg collaboration, and the launch of Skechers Football boots with Harry Kane, captain of England's national team.

Selling expenses rose 8.8% due to higher brand marketing expenses focusing on brand building and consumer awareness for its comfort products and newly launched categories.