SKECHERS USA (SKX) May Purchase an Interest in LA Clippers

SKECHERS USA, Inc. (NYSE: SKX), a global leader in footwear, today announced that it will explore acquiring an interest in the Los Angeles Clippers basketball team. The Company is consulting with its advisors about leading an investment group to acquire an interest in the team.

“As one of the five largest athletic footwear companies in the United States and with roots deep in Southern California, we believe acquiring an interest in the Los Angeles Clippers is a natural fit for Skechers,” said Robert Greenberg, Skechers Chief Executive Officer. “With numerous accolades for the Skechers Performance Division, Skechers has become a serious player in the athletic performance footwear market globally. Like Skechers, the Clippers are a great Los Angeles brand with a loyal following and recognition that extends way beyond Southern California.”

Skechers has a long association with professional sports. Most recently, elite athlete and Olympic medalist Meb Keflezighi won the 2014 Boston Marathon and broke his personal record wearing the new Skechers GOmeb Speed 3 shoes, becoming the first American male to win this event since 1983, and the first American since 1985. Meb has endorsed Skechers running shoes since 2011 when the Company launched the Skechers Performance Division and line of Skechers GO footwear. Skechers has also signed many athletic superstars and icons to endorsements over the past twenty years including Joe Montana, Larry Bird, Wayne Gretzky, Evander Holyfield, Karl Malone, Mark Cuban, Tommy Lasorda, and Rick Fox.

Mr. Greenberg continued: “We believe this presents us with a tremendous opportunity to leverage and cross-promote both the Skechers and Clippers brands. The Clippers play in the second biggest media market in the country, and Skechers is an advertising-driven consumer brand that markets and promotes its products worldwide via print, television, digital, radio, in-store, and in malls, stadiums and transportation hubs. We hope that Skechers can be part of giving the Clippers organization and fans a fresh start.”

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