Major Footwear Industry Shake-up as Investment Giant Strikes Deal
US-Brazilian private equity firm 3G Capital has announced its acquisition of American footwear brand Skechers in a massive $9.4 billion all-cash deal, marking its return to high-profile dealmaking.
This strategic move offers Skechers shareholders $63 per share—nearly 30% above its last closing price. Alternatively, shareholders can accept $57 in cash and receive a stake in a newly private parent company.
Leadership and Strategy Post-Acquisition
Skechers CEO Robert Greenberg, who founded the company in 1992, will continue to lead the business alongside his son Michael Greenberg, who remains president. The company will also retain its California headquarters. 
3G Capital is known for partnering with founders to transform companies into global leaders. It famously merged AmBev and Interbrew in the early 2000s to form AB InBev, the world’s largest brewer. More recently, it acquired Hunter Douglas for $7 billion.
A Long-Term Vision with Shared Ownership
In a rare move for a private deal, 3G is allowing existing Skechers shareholders the option to retain partial ownership. This signals the firm’s long-term confidence in the footwear brand’s growth potential.
While 3G has historically expanded companies through acquisitions, insiders report that the focus for Skechers will be on organic growth.
Industry Challenges and Tariff Pressures
Despite reporting record sales of $2.41 billion in Q1 2025, Skechers has withdrawn its annual forecast due to macroeconomic uncertainty driven by global trade tensions.
The company cited serious risks from the U.S. tariff policy, which includes a 145% levy on Chinese imports. With 38% of its sales in the U.S. and most of its manufacturing based in China and Vietnam, Skechers is particularly vulnerable.
In response, Skechers and other major footwear companies signed a letter urging the U.S. President to exempt shoes from “reciprocal” tariffs. They warned of inventory shortages and an existential threat to the U.S. footwear retail market if the situation continues.
Deal Approval and Closing Timeline
The Skechers board has unanimously approved the deal, which is expected to close in Q3 of 2025. This acquisition could significantly reshape the competitive landscape in the global footwear industry.
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