Footwear giant Skechers will be acquired by 3G Capital in a $9 billion take-private deal, ending its 26-year run as a public company. The deal, approved unanimously by Skechers’ board, comes amid mounting uncertainty surrounding U.S. tariffs on Chinese imports.
The purchase price of $63 per share represents a 30% premium to Skechers’ 15-day average stock price. Shares surged nearly 25% Monday, closing at $61.56.
“With this partnership, we’re entering a new chapter focused on long-term growth,” said CEO Robert Greenberg, who will remain in charge along with the current leadership team.
The move follows a period of heightened trade tension. President Donald Trump’s new tariffs, raised to 125% on Chinese imports, have cast a shadow over U.S. firms reliant on overseas manufacturing. Skechers, which sources many of its products from China, has been directly affected.
In April, Skechers withdrew its 2025 guidance, citing an unpredictable trade environment. CFO John Vandemore noted that U.S.-bound products from China now face a total effective tariff of 159%, making sourcing from the region “prohibitively expensive.”
Still, about two-thirds of Skechers’ revenue comes from international markets. In 2024, the company reported a record $9 billion in revenue and $640 million in net income.
Executives say the company has “levers” to offset tariff pressures — including shifting production, renegotiating vendor terms, and adjusting pricing. However, the lack of a detailed production breakdown leaves some questions unanswered.
Skechers operates 5,300 stores globally, including 1,800 company-owned locations, and is the world’s third-largest footwear brand behind Nike and Adidas. Roughly 97% of clothing and footwear in the U.S. is imported, heightening industry-wide concerns.
The acquisition is expected to close in Q3 2025, with the company continuing to operate from its Manhattan Beach, California headquarters.
