Skechers may be a long way from catching Nike, but Wall Street experts are saying that the brand is gaining more credibility with athletes. Yes, athletes, and not just the moms who shop at Kohls for a nice pair of walking shoes.
“In our view, more consumers are accepting of SKX as an athletic brand with an appealing assortment of lower-priced technical footwear, which helps to drive ASPs (average selling prices) higher, as well as bolster wholesale distribution,” market analyst Corinna Freedman wrote.
Skechers owns about five percent of the sports footwear market, while Nike is the market leader at 62 percent. The Swoosh laid out plans during its investors day meeting to double its revenue by 2020.
Hopefully, Skechers can move a lot of GoWalk sneakers to make up the difference.