After seeing the pitfalls that come with being a one-trick pony, I have to commend footwear designer and retailer Skechers (NYSE: SKX) for its success in pursuing a diversified approach to selling shoes.
The one-trick pony I'm referring to is shoe rival K-Swiss (NYSE: KSWS), which is hurting from an over-reliance on its Classic shoe brand. Classic makes up 65% of K-Swiss sales, and U.S. consumers despise the shoe right now. Skechers, on the other hand, is firing on all cylinders; it recently touted the creation of "10 on-target brands," and it's currently enjoying celebrity backing from the likes of Jessica Simpson, JoJo, the Game, and Nas. I have no idea who most of those people are or why the shoes they endorse are selling, but kids want 'em.
Skechers' reach doesn't end there: It also targets men and women in the "active, casual, dress casual and dress footwear" market segments.
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