In a bold shake-up for the global footwear industry, Skechers USA Inc. has struck a deal to be acquired by private equity powerhouse 3G Capital for $9.4 billion. The all-cash agreement will take the California-based shoe brand private, ending its long tenure as one of the last major independently run footwear companies in the U.S.
The deal, announced Monday, values Skechers at $63 per share, covering both its Class A and Class B stock. That’s a notable premium over its pre-deal market value of roughly $7.4 billion, sending shares soaring nearly 25% following the news.
Skechers: From Underdog to Global Powerhouse
The sale is expected to close in the third quarter of 2025, depending on the shareholder and regulatory approvals. Once that is finalized, Skechers will be delisted and operate as a private entity under the 3G Capital.
Founded in 1992 by Robert Greenberg, Skechers began as a shoe brand and gradually changed into a global player with annual revenues topping $8 billion.
3G Capital praised Skechers in its announcement, calling it “an iconic brand with entrepreneurial roots and enormous global potential.” The firm, known for high-profile investments in companies like Kraft Heinz and Burger King, sees Skechers as a long-term bet on consumer lifestyle shifts and brand versatility.
Skechers has most presently faced pressure from trade tensions, due to its reliance on manufacturing in China and Vietnam. President Trump’s 145% tariff hike on Chinese imports has created cost uncertainty for many patrons goods brands.
In April, Skechers notably declined to provide full-year financial guidance, citing “macroeconomic volatility tied to global trade policy. ” The move toward private ownership provides a way to insulate the company from Wall Street’s quarterly expectations while it adapts to a changing global supply chain landscape.
Despite the most present challenges, Skechers remains one of the most globally diversified brands in the footwear sector.
Robert Greenberg, along with his son and COO Michael Greenberg, are to remain at the helm throughout the change.
For the Greenbergs, the move to go private offers more flexibility and long-term concentration, free from the pressure of quarterly earnings calls and market changes. Sources close to the company say Skechers had considered strategic partnerships in the past but was always keen to retain control something 3G is known to allow in founder-led ventures.
Wall Street largely welcomed the news, with analysts pointing to Skechers’ strong fundamentals and the upside potential under private ownership.
It also increases the competitive pressure on major players like Nike, Adidas, and Puma, who may now be facing a more nimble, well-rounded rival with the freedom to change quickly in a volatile market.
For 3G Capital, it’s a classic move: identify an underleveraged brand with massive scale, and back it with long-term capital and strategic oversight. For Skechers, it could be the freedom to grow without the pressure of Wall Street watching its every step.
