Skechers is vying for a bigger piece of the Central Eastern Europe (CEE) market. The company is transitioning its business in the region from third-party distributors to a new wholly-owned subsidiary, Skechers CEE, Kft.
With the subsidiary, Skechers is anticipating doubling its CEE sales in the next three-to-five years by expanding its offerings of men’s, women’s, and kids’ products, and growing its distribution base in new and existing markets that includes department, specialty and Skechers retail stores. The company will have headquarters in Budapest and plans to open regional showrooms in 14 countries.
Skechers president Michael Greenberg said, “For nearly two decades, we’ve successfully marketed our product to consumers in Central Eastern Europe through several distributors, but in the last few years we have seen a growing demand and increased potential for Skechers in the region.” He added, “With the strength of our diverse product worldwide, we believe the time is right to further grow our brand—and that transitioning to a wholly-owned subsidiary will allow us to leverage our capital, product, logistics and business model to achieve this growth.”
Petar Dulic, the former general manager and partner of Skechers distributor Office Shoes, has been named the new territory manager of Skechers CEE, Ktf. Since launching the brand in 1997, Dulic has overseen Skechers’ business in Serbia, Bosnia-Herzegovina, Montenegro and neighboring countries.
Dulic said, “With the right infrastructure, expertise and unparalleled marketing support, there is great opportunity to grow Skechers across Eastern Europe. Our distribution partners planted solid roots for Skechers’ growth in this region with the opening of seven retail stores and a strong network of established retailers.”