Skechers a global leader in the lifestyle and performance footwear industry, announced officially on Thursday that the company is transitioning its business in Central Eastern Europe (CEE) from third-party distributors to a new wholly-owned subsidiary, Skechers CEE, Kft.
Skechers CEE, Kft. is comprised of Albania, Bosnia-Herzegovina, Bulgaria, Croatia, the Czech Republic, Hungary, Kosovo, Macedonia, Moldova, Montenegro, Romania, Serbia, Slovakia and Slovenia. The company plans to have its headquarters in Budapest and regional showrooms in each country.
Skechers plans to double its CEE sales in the next three to five years through an expanded offering of men’s, women’s and kids’ product and a growing distribution base in new and existing markets that includes department, specialty and Skechers retail stores.
“For nearly two decades, we’ve successfully marketed our product to consumers in Central Eastern Europe through several distributors, but in the last few years we have seen a growing demand and increased potential for Skechers in the region,” began Michael Greenberg, president of Skechers. “With the strength of our diverse product worldwide, we believe the time is right to further grow our brand – and that transitioning to a wholly-owned subsidiary will allow us to leverage our capital, product, logistics and business model to achieve this growth.”