US footwear giant Skechers kicked off 2024 with record-breaking sales of $8 billion in 2023, a 7.5 per cent Y-o-Y increase. The strong performance was fueled by a resurgent Asia-Pacific market and a thriving direct-to-consumer business.

The brand’s sales in the fourth quarter soared by 4.4 per cent, driven by a 6.9 per cent spike in international sales and a 0.3 per cent rise in domestic revenues.

Skechers’ direct-to-consumer sales surged by 20.3 per cent, while wholesale sales dipped by 8.3 per cent.

The brand’s sales in the Asia Pacific region grew by 15 per cent, with China leading the charge with double-digit gains. Its net earnings for the quarter reached $87.2 million, translating to diluted earnings per share of $0.56, up from $0.48 in the previous year.

David Weinberg, COO, says, the strong demand for the brand’s comfort technology products, particularly through its direct-to-consumer channels, is a testament to the brand's strength.