Skechers is set to be acquired by 3G Capital for $9.4 billion, meaning it will transition into a private company after the deal.
The footwear brand will exit the trade market on the New York Stock Exchange after the acquisition, which is expected to be completed by the third quarter.
Robert Greenberg, CEO of Skechers, said: “With a proven track record, Skechers is entering its next chapter in partnership with the global investment firm 3G Capital.
“Given their remarkable history of facilitating the success of some of the most iconic global consumer businesses, we believe this partnership will support our talented team as they execute their expertise to meet the needs of our consumers and customers while enabling the Company’s long-term growth.”
Robert Greenberg, CEO, President Michael Greenberg, and the company’s Chief Operating Officer (COO) David Weinber will continue to oversee operations at the footwear brand.
The acquisition comes on the heels of a successful performance by the footwear brand in Q1 2025, amid increasing economic pressures.
Executives at 3G Capital added: “We are thrilled to be partnering with Skechers and look forward to working with an entrepreneur of Robert’s caliber and the talented Skechers team. Skechers is an iconic, founder-led brand with a track record of creativity and innovation.
“We have immense admiration for the business that this team has built and look forward to supporting the Company’s next chapter. Our team at 3G Capital is built to partner with companies like Skechers.”
The footwear brand has been delivering strong performances and setting records despite uncertainty in the retail segment.
Moving forward, Skechers will continue to expand its global business with strategic initiatives and innovation, which have driven it to profitability and growth.
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