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- Skechers USA Inc (NYSE:SKX) has transitioned its operations in the Philippines from a third-party distributor to Skechers USA Philippines Inc.
- The company said it is reestablishing the brand by setting up new offices in Manila and implementing a distribution center.
- Skechers plans to introduce new product categories and open more retail locations in 2022.
- “The Philippines has immense potential for Skechers, and with our dedicated team focused on growth and delivering the integrated capabilities of Skechers, we believe this step accelerates that potential,” said COO David Weinberg.
- Skechers’ prior distributor in the Philippines, Trendworks International, will continue to sell Skechers products through the end of 2021.
- Price Action: SKX shares closed lower by 3.67% at $40.16 on Monday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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