Skechers USA Bundle
Who Owns Skechers USA Company?
Understanding a company's ownership is key to grasping its strategy and accountability. A major shift occurred on May 5, 2025, when 3G Capital agreed to acquire Skechers U.S.A., Inc. for $63.00 per share, valuing it at over $9 billion.
This acquisition will transition Skechers from a public company to private ownership, significantly altering its structure and operations.
Skechers U.S.A., Inc., established in 1992, has grown into a global footwear leader, reaching $8.97 billion in sales in 2024. This deal, anticipated to finalize in Q3 2025, prompts a look at its ownership history, from founding to its recent privatization, including the influence of key investors and its board. For a deeper dive into its market context, consider the Skechers USA PESTEL Analysis.
Who Founded Skechers USA?
Skechers U.S.A., Inc. was established in 1992 by Robert Greenberg, who had previously founded L.A. Gear, alongside his son, Michael Greenberg. Robert Greenberg has held the positions of Chairman of the Board and Chief Executive Officer since October 1993. Michael Greenberg has served as President and a Director since the company's inception.
| Founders | Robert Greenberg, Michael Greenberg |
| Year Founded | 1992 |
| Robert Greenberg's Role | Chairman of the Board and CEO |
| Michael Greenberg's Role | President and Director |
Founding Vision
The company was founded by Robert Greenberg and his son, Michael Greenberg, in 1992. Their combined expertise has guided the company's growth since its inception.
Leadership Continuity
Robert Greenberg has been the CEO since October 1993, ensuring consistent leadership. Michael Greenberg has been President since the company's beginning.
Dual-Class Share Structure
A dual-class share structure was implemented to maintain founder control. Class B shares hold significantly more voting power than Class A shares.
Founder Voting Power
This structure ensures the founders' vision remains central to the company's strategic decisions. It allows for concentrated control over stockholder matters.
Early Investment Landscape
Publicly available details on initial equity splits are limited. However, control was largely consolidated within the Greenberg family from the start.
Consolidated Control
No other significant early backers with substantial equity stakes were publicly identified as major initial shareholders. The ownership was primarily founder-driven.
While specific initial equity splits at the company's inception are not publicly detailed, the Greenbergs, particularly Robert Greenberg, maintained significant control through a dual-class share structure. This included Class B Common Stock, which carried ten votes per share, compared to Class A Common Stock's one vote per share. As of December 31, 2024, Robert Greenberg beneficially owned 92.6% of the outstanding Class B shares, granting him substantial voting power over matters requiring stockholder approval. This arrangement ensured the founding family's vision consistently guided the company's strategic direction. No other notable early backers or angel investors with specific equity stakes were detailed as major initial shareholders beyond the founders, with control largely consolidated within the Greenberg family from the outset. Understanding the Revenue Streams & Business Model of Skechers USA provides context for how this ownership structure impacts the company's operations.
Key Ownership Aspects
The founding family holds a dominant position in the company's ownership and control.
- Robert Greenberg, a founder, holds significant voting power through Class B shares.
- Michael Greenberg, also a founder, is President and a Director.
- A dual-class share structure ensures continued founder influence.
- As of December 31, 2024, Robert Greenberg beneficially owned 92.6% of Class B shares.
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How Has Skechers USA’s Ownership Changed Over Time?
Skechers U.S.A., Inc. marked its 25th anniversary as a publicly traded entity in Q2 2024, a significant milestone in its ownership journey. The company's transition to private ownership, initiated by an acquisition announcement in May 2025, represents a fundamental shift from its prior structure. This move will alter its governance and strategic direction, moving away from public market pressures.
| Ownership Type | Percentage (as of June 30, 2025) | Notes |
|---|---|---|
| Institutional Investors | 82.25% | Includes major firms like BlackRock, Vanguard, and State Street. Early 2025 reports showed this figure ranging from 83.04% to 86.03%. |
| Insiders (Founding Family & Executives) | 0.62% | Hold a smaller percentage of Class A shares but significant voting power through Class B shares. |
| Other Investors | Approximately 17.13% | This category would encompass retail and other individual investors. |
Prior to its privatization, Skechers U.S.A., Inc. had a diverse ownership base, with institutional investors holding the vast majority of its Class A shares. As of June 30, 2025, these institutions accounted for approximately 82.25% of the company's stock, with firms like BlackRock, Inc., Vanguard Group Inc, and State Street Corp being among the largest holders. Insiders, primarily the founding family and key executives, held a smaller portion of the total stock at around 0.62% as of the same date. However, their influence was amplified by substantial holdings of high-voting Class B shares, giving them considerable control over corporate decisions. The company's history as a public entity began around the second quarter of 1999.
Key Ownership Transition: 3G Capital Acquisition
A pivotal moment in Skechers' ownership structure is the acquisition by 3G Capital, announced on May 5, 2025. This deal, valued at over $9 billion, will take the company private, with an expected closing in the third quarter of 2025.
- Acquisition Price: $63.00 per share in cash.
- Acquiring Entity: 3G Capital.
- Transaction Impact: Transition from public to private ownership.
- Founding Family Approval: The Greenberg family, holding approximately 60% of the voting power, approved the transaction.
- Regulatory Approval: Received approval from the Competition Commission of India on August 19, 2025.
The impending acquisition by 3G Capital marks a significant turning point for Skechers. Announced on May 5, 2025, this transaction will see the company go private in a deal valued at over $9 billion, with each share being acquired for $63.00 in cash. The acquisition is anticipated to be finalized in the third quarter of 2025, pending regulatory approvals, such as the one received from the Competition Commission of India on August 19, 2025. The Greenberg family, who collectively controlled about 60% of the company's voting power through their substantial holdings of Class B shares, have given their consent to the deal. They opted for a mixed consideration, which includes both cash and unlisted equity units in the new private parent company. This shift will fundamentally alter Skechers' operational landscape, moving it away from the quarterly reporting pressures and scrutiny typically faced by publicly traded companies. Understanding the Competitors Landscape of Skechers USA provides context for such strategic moves in the footwear industry.
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Who Sits on Skechers USA’s Board?
The current board of directors for Skechers U.S.A., Inc., as detailed in the 2024 proxy statement, comprises Robert Greenberg (Chairman and CEO), Michael Greenberg (President), David Weinberg (Executive Vice President and COO), Katherine Blair, Morton Erlich, Zulema Garcia, Yolanda Macias, and Richard Siskind. This group includes the company's founders, Robert and Michael Greenberg, who hold significant executive roles.
| Director Name | Position |
|---|---|
| Robert Greenberg | Chairman of the Board and Chief Executive Officer |
| Michael Greenberg | President and Director |
| David Weinberg | Executive Vice President, Chief Operating Officer and Director |
| Katherine Blair | Director |
| Morton Erlich | Director |
| Zulema Garcia | Director |
| Yolanda Macias | Director |
| Richard Siskind | Director |
Skechers U.S.A., Inc. employs a dual-class share structure that significantly influences voting power. Class A Common Stock shareholders receive one vote per share, while Class B Common Stock shareholders are granted ten votes per share. This arrangement concentrates control, with Robert Greenberg beneficially owning 92.6% of the outstanding Class B Common Stock as of December 31, 2024. This ownership effectively grants him control over most stockholder-approved matters. As of February 19, 2025, the company had 130,041,034 shares of Class A and 19,313,651 shares of Class B outstanding. This structure has historically allowed the founding family to maintain substantial control, enabling them to appoint directors and guide the company's strategy with minimal external shareholder influence, even as a public entity. With the planned privatization by 3G Capital, the governance will shift to align with a private equity owner-operator model, though the current leadership, including the Greenbergs and David Weinberg, is expected to continue.
Understanding Skechers USA Ownership
The ownership structure of Skechers U.S.A., Inc. is heavily influenced by its dual-class share system. This structure ensures significant control for key individuals, impacting corporate decisions.
- Class B shareholders have 10 times the voting power of Class A shareholders.
- Robert Greenberg holds a dominant position due to his substantial Class B share ownership.
- This structure has historically facilitated founder-led strategic direction.
- The upcoming privatization may alter the long-term ownership dynamics.
- Understanding this structure is key to grasping Skechers USA ownership.
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What Recent Changes Have Shaped Skechers USA’s Ownership Landscape?
The ownership landscape of Skechers USA has undergone a significant transformation recently, with a major acquisition announced in May 2025. This development marks a pivotal moment in the company's history, shifting its status from a publicly traded entity to a privately held one.
| Ownership Event | Announcement Date | Acquirer | Valuation | Expected Close |
|---|---|---|---|---|
| Acquisition Agreement | May 5, 2025 | 3G Capital | Over $9 billion | Q3 2025 |
Prior to the acquisition announcement, Skechers USA was actively engaged in returning capital to shareholders through share repurchase programs. In the second quarter of 2024, the company's Board of Directors authorized a new share repurchase program valued at $1 billion. Throughout 2024, Skechers repurchased approximately 5.2 million shares of its Class A common stock, amounting to $330.1 million. As of December 31, 2024, $789.9 million remained available under this program. However, no shares were repurchased in the first quarter of 2025, a pause likely attributed to the impending acquisition by 3G Capital. Before this privatization, institutional investors held a substantial portion of the company's stock, with ownership ranging between 83.04% and 86.03% in early 2025. The privatization deal is expected to consolidate ownership under 3G Capital. The executive management team, including Robert Greenberg, Michael Greenberg, and David Weinberg, is anticipated to continue their leadership roles post-acquisition, ensuring operational continuity.
Acquisition by 3G Capital
Skechers USA agreed to be acquired by 3G Capital for over $9 billion, announced on May 5, 2025. This transaction is set to take the company private, with an expected closing in the third quarter of 2025.
Share Buyback Activity
In 2024, Skechers authorized a $1 billion share repurchase program and bought back 5.2 million shares for $330.1 million. This activity paused in Q1 2025 ahead of the acquisition.
Institutional Ownership Trends
Leading up to the acquisition, institutional investors held a significant majority of Skechers USA stock, between 83.04% and 86.03% in early 2025. The privatization will consolidate this ownership under 3G Capital.
Management Continuity Post-Acquisition
Key members of Skechers' leadership, including Robert Greenberg, Michael Greenberg, and David Weinberg, are expected to remain in their roles after the acquisition. This suggests a focus on maintaining operational stability and strategic direction.
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