Founded in the early 1990s and based in Manhattan Beach, California, Skechers is currently the third largest global sports footwear retailer. According to Abigail Gilmartin, a retail analyst at Bloomberg Intelligence, revenue has almost doubled over the past five years, with a path to reaching $10 billion in sales by 2026.
Skechers sources around 40% of its goods from China, but Gilmartin expects its global footprint will help ease tariff pressure, including price concessions and relocated goods.
The announcement of the contract began to reopen as financial markets, which were utilized after a sharp slowdown following the Trump administration’s first tariff announcement on April 2, begin to reopen.
Since then, debt financing for at least three leveraged acquisitions has become “hangs.” This means that banks were unable to sell bonds or loans to investors, and remained in the debt itself.
Debt Support QXO Inc.’s purchase of beacon roof supply was well received by investors in late April, but has been one of only a handful of successful transactions that banks have achieved since the outbreak of the World Trade War. JPMorgan’s efforts to sell debt for the acquisition of Skechers could serve as a Litmus test for investors’ appetites.
