India emerges as top Asia Pacific market for Skechers in Q2

Footwear brand Skechers reported that India was its highest earner in the Asia Pacific market in terms of sales in the second quarter of the 2023 calendar year which ended on June 30. Sales in India represented 27% of the business’ total global sales. 

India was second only to Germany in terms of its share of Skechers’ total sales in the global business’ recent financial quarter, India Retailing reported. Germany represented the largest share at 29% and the Chinese market came in third with 19%. 
 
“Skechers second quarter results set a new quarterly sales record of $2.01 billion,” said Skechers’ chief operating officer David Weinberg, India Retailing reported. “We saw increases of 20% in APAC (Asia-Pacific), including 19% in China and 27% in India, as well as 16% in EMEA (Europe, the Middle East and Africa), including 29% in Germany and 13% in the UK. Our strong gross margin of 52.7% was primarily driven by a higher proportion of direct-to-consumer sales, which grew 29%.”

Skechers is based in California, US and counts regions outside America as its global market. The business is confident that it will achieve sales of between $1.95 billion and $2 billion in its third financial quarter this calendar year. 
 
Skechers has been focusing on the Indian market for growth and opened a new store in New Delhi’s DLF Promenade Mall in June. The brand partnered with Bollywood celebrities Ananya Panday and Rohit Saraf for the occasion and held a ‘Community Goal Challenge’ charity fundraiser.