Skechers to Delist, Acquired by 3G Capital for $9 Billion Amid Tariff Pressure

American footwear giant Skechers has announced its decision to delist from the stock market, marking a significant shift in its corporate strategy. The company, renowned for its production of athletic and casual footwear, has agreed to be acquired by Brazilian private equity firm 3G Capital. This acquisition will transform Skechers into a privately held company after more than two decades of being publicly traded.

The move comes at a time when American footwear manufacturers, including Skechers, are facing substantial pressure due to the U.S. government's aggressive tariff policies. The majority of these companies' production lines are concentrated in Asia, making them particularly vulnerable to the economic fallout from these policies.

According to a joint statement released by Skechers and 3G Capital, the acquisition will be executed at a price of $63 per share, totaling over $9 billion. Skechers' board of directors has unanimously approved the transaction, which is expected to be finalized in the third quarter of this year.

This acquisition is taking place against a backdrop of uncertainty created by the Trump administration's tariff policies. In its first-quarter financial report released in April, Skechers did not provide the customary revenue guidance for the next quarter. The company's Chief Financial Officer, John VanderMolen, cited the rapidly changing environment as the reason for the lack of reliable performance projections. On May 2, Skechers filed a document with the U.S. Securities and Exchange Commission warning that the government's tariff policies could have a significant adverse impact on the company's operations, driving up costs and potentially leading to price increases and reduced sales.

Analysts suggest that Skechers' decision to delist is a strategic move to free itself from the financial reporting requirements of a public company, thereby gaining greater operational autonomy. With approximately 5,300 retail stores worldwide, Skechers generates about two-thirds of its revenue from markets outside the United States.

According to data from the U.S. Apparel & Footwear Association, about 97% of the apparel and footwear products purchased by American consumers are imported, with the majority coming from Asia. The industry has expressed significant concern over the impact of U.S. tariff policies, with major footwear brands, including Nike, Adidas, Skechers, and Under Armour, collectively urging the White House to exempt the footwear sector from these measures, citing the potential for severe economic harm.