爆了！全球第三大运动鞋零售商突然退市，背后藏着这些 “大危机”！

Core Viewpoint - Skechers, the world's third-largest athletic shoe retailer, announced its privatization by accepting a buyout offer from 3G Capital, which has sparked significant public interest and discussion online [1] Company Overview - Skechers was founded in 1992 by Robert Greenberg and is headquartered in Manhattan Beach, California. Initially selling work boots, it expanded into athletic shoes for adults and children, covering various sports categories [1] - The company is known for its comfortable footwear priced lower than competitors like Nike and Adidas, making it one of the largest consumer goods companies led by its founder [1] Acquisition Details - 3G Capital will acquire all outstanding shares of Skechers at $63 per share, representing a 30% premium over the weighted average stock price over the past 15 days. The transaction is expected to be completed by the third quarter of 2025 [1] - Post-acquisition, 3G Capital is projected to hold approximately 80% of the newly formed company, transitioning Skechers into a privately held entity [1] Financial Performance - Skechers reported a sales revenue of $9 billion for 2024, marking a 12% year-on-year increase, with international sales accounting for 65% of total revenue. However, the profit margin declined by 2.4% in the first quarter of 2025, and the stock price has dropped 28% year-to-date [2] Challenges Faced - The new U.S. tariff policies have significantly increased shoe prices, with a pair of shoes rising from 1,100 yuan to nearly 1,700 yuan for consumers. Skechers warned that global trade policy changes pose a major risk to its business [3] - The U.S. market contributed 38% of Skechers' global sales in fiscal year 2024, but recent tariffs on major sourcing countries like China and Vietnam have led to increased costs and declining profit margins. The global sales growth rate plummeted from 36.7% in 2021 to 12.1% in 2024 [3] - Skechers faces supply chain vulnerabilities, with 60% of its production capacity concentrated in Asia, which is exposed to tariff and geopolitical risks. Transitioning to a more diversified production strategy would require an investment of at least $2 billion [3] Strategic Implications - The privatization of Skechers allows the company to escape the financial disclosure constraints of being publicly traded, providing greater operational flexibility to adjust supply chains and pricing strategies without the pressure of Wall Street expectations [3] - This move may signify a broader transformation and consolidation within the athletic footwear market, with industry observers keenly watching the implications of this acquisition on Skechers and the sports leisure sector [4]