Skechers USA, Inc. announced on Tuesday the company is transitioning its business in Latin America from a third-party distributor to a wholly owned subsidiary, Skechers Latin America, LLC.
The subsidiary will oversee more than 30 countries in the region, including the four key markets of Panama, Peru, Colombia and Costa Rica.
“Skechers’ strategic business model has established a strong framework for our brand to grow in many parts of the world – and we see Latin America as the next natural destination for us to employ this vision,” Skechers Chief Operating Officer David Weinberg said. “Over the years, our distributor in the region, Dabsan International, established an extensive retail and wholesale network in Latin America, and at one point became our largest distributor. Latin America and its key markets remain an important part of our international business, especially given our current growth in the Americas – including the United States, Canada, Brazil and Mexico.”
Skechers plans to transition 21 Skechers stores in the region to subsidiary-owned and -operated locations.
Based in Panama City,
Latin America will oversee the company’s business with regional showrooms in Panama, Peru, Colombia and Costa Rica. Additional regions under the new subsidiary include the Caribbean, Ecuador, Guatemala, El Salvador, Honduras and Nicaragua.