Women may finally be favouring comfort over fashion, if sales of US footwear brand Skechers are any guide.
Skechers co-founder and president Michael Greenberg says sales of the company's impact-absorbent walking, running and casual shoes have risen by more than 35 per cent in Australia in the June quarter, mirroring strong double-digit growth in its US and international operations.
Founded by Mr Greenberg and his father Robert in 1992 after the collapse of their first footwear company, LA Gear, Skechers is now one of the world's largest footwear companies, with global sales of $US1.85 billion last year and almost 1000 stores worldwide.
If the current rate of growth continues, Mr Greenberg expects sales to reach $US 3 billion in 2015.
Mr Greenberg, who is visiting Australia this week for the first time since 2000, attributes the company's enviable sales growth to casual clothing trends and growing demand for comfort.
"People are really into dressing comfortable today – it's more of a relaxed lifestyle," he said. "We're never going to be in the business of manufacturing stilettos or heels."
He admits Skechers' fabric and polyurethane slip-on loafers and running shoes – worn by celebrities such as Kim Kardashian, Britney Spears and even Robert Downey jnr – are not the most beautiful shoes in the world. "But they are the most comfortable," he says.
"In the footwear business you can continue to grow. We have been at it since 1992, developing a worldwide brand, and in another 20 years from now we would still not have maximised the growth," he said.
Mr Greenberg believes Skechers' 20-year relationship with the Accent Group is key to its success in Australia and New Zealand.
Accent distributes global footwear brands such as Vans, Dr Martens, Palladium and Timberland.
Next year Accent expects to distribute 1.5 million pairs of Skechers in Australia and New Zealand through stand-alone Skechers stores and third-party retailers.
"They are really committed not only emotionally but financially to developing the brand, which shows through their success and their growth," Greenberg says.
Accent plans to open three Skechers stores by Christmas, taking the Australian total to 30, and Mr Greenberg sees scope for more than 60 stores in Australia in the next few years.
Read more: http://www.smh.com.au/business/retail/somethings-afoot-as-skechers-shoe-sales-boom-20140923-10kxqm.html#ixzz3EmiydNbT