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Skechers Investor Proposes Aggressive Share Buybacks[]

A high-level Skechers investor proposed corporate changes to bring more funds to investors.

The Tremblant Capital Group, which owns 5.1% of Skechers, stated that the sneaker company should engage in an aggressive share buyback program with some of the $1.18 billion Skechers held in cash and cash equivalents at the end of Q3.

Tremblant proposed that Skechers simplify its dual-share structure and offer only one type of shares.

The Greenberg family currently owns 60% of the voting power in Skechers.

The changes, according to Tremblant, would align shareholders with management so that “unease around the founding family dynamics will dissipate, driving the multiple higher and creating tremendous value for shareholders.”

The investment firm predicted that its recommendations could add $4 billion in value to the Greenbergs’ $1.1 billion stake over 10 years.

  • Skechers’ sales reached $1.55 billion in the third quarter, a 19.2% year-over-year increase.
  • The company is reportedly considering an IPO of its Asia segment that could raise $1.5 billion.

Skechers promotes its brand with a host of current and retired athlete endorsers.