中产鞋王，被迫卖身三个巴西人

Core Viewpoint - Skechers, a major player in the athletic footwear market, is set to be acquired by Brazilian investment firm 3G Capital for over $9 billion, marking the largest deal in the global footwear industry to date [3][5][6]. Group 1: Acquisition Details - The acquisition price is $63 per share, representing a 30% premium over the 15-day volume-weighted average stock price [5]. - Skechers has been performing well, with a reported global sales of $8.97 billion in 2024, a year-on-year increase of 12.11% [6]. - The acquisition is seen as a strategic move to navigate the pressures from U.S. tariffs and to enhance operational flexibility [18][20]. Group 2: Financial Performance - In Q1 2025, Skechers reported sales of $2.41 billion, a 7.1% increase from the previous year, with a gross profit margin of 52% [13][30]. - However, the operating profit margin decreased by 2.3%, attributed to rising costs from tariffs imposed on imported goods [12][20]. - The company’s sales in China fell to $268.7 million, a decline of 15.9%, while international sales outside China saw growth [30]. Group 3: Market Context and Challenges - Skechers faces challenges due to U.S. tariffs on imported goods, with approximately 40% of its products sourced from China [8][9]. - The high tariffs have significantly increased retail prices, with a reported 53% increase on certain footwear [14]. - The company’s lack of manufacturing facilities and long-term contracts with manufacturers has heightened supply chain uncertainties [15][16]. Group 4: Future Outlook - 3G Capital aims to restructure Skechers for better efficiency and market share, with a focus on internal expansion rather than industry consolidation [26]. - Skechers plans to continue investing in the Chinese market despite recent declines, indicating a commitment to growth in a competitive landscape [29]. - The acquisition is expected to provide Skechers with the necessary resources to adapt to market changes and pursue new growth opportunities [31].