Skechers, World's Third-Largest Shoe Brand, Sold to 3G Capital for $9.4 Billion Amid Trump Tariffs

Skechers, the global footwear company known for its slip-on sneakers and ranked as the world's third-largest shoe brand, has agreed to be acquired by private equity firm 3G Capital in a $9.42 billion take-private deal. This transaction marks the largest buyout in the footwear industry to date and will end Skechers' 26 years as a publicly traded company. The deal comes amid ongoing trade tensions and tariffs imposed by the Trump administration, which have affected the company's operations. 3G Capital, a Brazilian-American investment firm associated with billionaire Jorge Paulo Lemann and known for its cost-cutting strategies with companies like AB InBev and Kraft Heinz, will take Skechers private. The acquisition is expected to provide 3G Capital with a strong foothold in the footwear sector, competing with major brands such as Nike, Adidas, and Under Armour. Robert Greenberg, the founder of Skechers and a former hairstylist, along with his family, stands to gain approximately $1.1 billion from the sale. The deal was finalized with a cash payment exceeding $9 billion, reflecting investor confidence despite the challenging trade environment.