What kind of company is Skechers? Is it an athletic shoe company--competitor of Nike, Adidas and Under Armour? Is it a casual wear option, more like Rockport and Birkenstock? Is it a cheaper Ecco? Sometimes people can get caught up in defining the essence of a brand--and forget about broad appeal. That's what Skechers seems to have. Broad appeal.
The company's stock has doubled in the last year. And here's why: glib successful retirees in their late 60s are sporting around in Skechers and kids are kicking it in Skechers, too. Skechers makes shoes that appeal instinctively to both style-conscious and proudly value-conscious customers. Skechers has found that in-between versatility that gives a sporty appeal to a casual shoe and a dress-up casual look to a sporty option. It's got sponsors ranging from the likeable PGA golf pro Matt Kuchar to the tween/teen fave personality Demi Lovato, the actress and singer. Not to mention Ringo Starr--he kept the beat for an outfit called The Beatles. Sales were $2.4 billion last year.
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