3G Capital’s Bold Bet on Skechers: What’s Behind the $9.4 Billion Acquisition?
The private equity world dropped a bombshell on May 5, 2025, when 3G Capital announced it’s snapping up Skechers for a hefty $9.4 billion. At $63 per share, 3G isn’t just paying a premium—it’s offering a cool 27.6% above what Skechers was worth before the news leaked. Wall Street definitely noticed, sending Skechers' shares up nearly 25% in a single day. Oddly enough, the stock still hasn’t clawed back all its losses for the year, hovering about 8% down when you look back to January.
So why does 3G want Skechers, and why now? With trade headaches piling up (think tariffs on imports from China and Vietnam that hit nearly 80% of Skechers' supply chain), the sneaker world could seem like a risky bet. But 3G Capital sees things differently. They’re betting that getting Skechers away from the public market’s glare will make it easier to weather the macroeconomic chaos caused by shifting trade policies. They’ve done this before, after all—they’re the same folks who engineered big shakeups at Restaurant Brands International, the parent company of Burger King, Popeyes, and Tim Hortons.
Don’t expect a Hollywood-style management shakeup. CEO Robert Greenberg and President Michael Greenberg aren’t going anywhere, and the brand’s Manhattan Beach headquarters will remain its home turf. That’s a sign 3G wants to keep Skechers’ playbook but build on it with their operational chops. The leadership team is staying put, which should calm nerves among Skechers’ 12,000 employees and global partners.
Skechers’ Numbers: Why 3G Thinks It Can Win Big
3G’s timing is interesting because Skechers just pulled its 2025 guidance, blaming “macroeconomic uncertainty” and those persistent trade obstacles. The U.S.-China tariff battle—carried over from the Trump era—hasn’t let up. About 40% of Skechers’ shoes come from China and another 40% from Vietnam, making the company painfully sensitive to price hikes at the border. Still, the latest data surprised: for the first quarter of 2025, Skechers notched $2.41 billion in sales, clocking in a 7% jump from last year’s already-strong numbers.
It might seem odd to buy a brand facing headwinds, but private equity loves adversity when they think the core business is resilient. By taking Skechers private, 3G is betting it can steer through short-term storms and push harder on international expansion, product innovation, and e-commerce—without sweating the month-to-month stock price. With Wall Street pressure off, Skechers gets the room it needs to rethink strategy on its own terms.
Here’s what the deal actually means for the company and its backers:
- Bigger bets on growth: 3G is expected to pump in operational expertise, streamlining how Skechers sources and sells shoes worldwide.
- No leadership overhaul: The Greenbergs, father and son, keep steady hands on the wheel. Continuity can go a long way during a big buyout.
- Staying local but thinking global: Skechers’ home stays in Manhattan Beach, but the new owners want stronger footprints in fast-growing regions like Asia and Latin America.
CEO Robert Greenberg sounded upbeat, calling the new partnership a chance for “our team to execute their expertise and drive long-term growth.” That optimism is clearly shared by 3G, who, despite the trade puzzles and a bumpy year on the markets, believe Skechers’ brand clout and steady sales are worth the risk. This deal is expected to close by the third quarter of 2025, so sneaker-watchers have plenty of time to see what the future holds for the now-private giant.