Skechers Went After the Customers Nike Didn’t. It Paid Off.
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Skechers Went After the Customers Nike Didn’t. It Paid Off.

Shoe company has focused on comfort over cool—‘we’re just a different player’

By INTI PACHECO
Mon, Jan 13, 2025 10:00amGrey Clock 4 min

The NBA’s 2023 most valuable player and last season’s top European goal scorer aren’t Nike or Adidas athletes. When playing, they wear what Martha Stewart wears: Skechers .

The shoe company—known for its hands-free slip-in styles—has grabbed the attention of enough people to become the third-largest footwear company in the world by sales. It is on track to net $10 billion in revenue by 2026, without achieving the coolness status that can juice demand for a brand.

Skechers did it by capturing parts of the market that are largely neglected by its competitors. Nike has superstars. Hoka has tapped into hardcore runners. Tech bros are willing to pay up for On shoes . Skechers thrives on retirees looking for comfortable kicks and families looking for something more affordable for their children.

“It’s almost the complete opposite of what the bigger brands do,” John Vandemore , Skechers finance chief, said in an interview. “We’re just a different player.”

Skechers isn’t flashy. Executives say they are in the “foot covering” business, and they work to make those coverings comfy and cheap. Its children’s styles cost around $50, and the brand doesn’t sell the limited releases that can fetch hundreds of dollars. It does, however, make $115 pickleball shoes with Goodyear rubber.

The company gets about two-thirds of its sales outside the U.S. Instead of opening its own stores, Skechers sometimes works with a franchise system and will wait years before investing on its own operations overseas. Skechers executives say they are bigger than Nike in India.

“People try to pigeonhole us into the Nike model or the Adi model, and it just doesn’t work,” Vandemore said. “It doesn’t mean that our model isn’t successful.”

Skechers has also started making soccer cleats and basketball sneakers, and it has scored some superstar endorsers. It added Bayern Munich striker Harry Kane to its roster in 2023, then signed a deal with Philadelphia 76ers star Joel Embiid last year. “You get them because the marketplace didn’t take care of them,” said Skechers Chief Operating Officer David Weinberg .

The company reported sales of $8 billion in 2023, up from $1.8 billion about a decade ago. Investors have taken notice. Over the past five years, Skechers share price has nearly doubled, while shares of Nike and Adidas have declined more than 25%.

Entering the race

Skechers has been run by its founder, Robert Greenberg , for three decades. The 84-year-old chief executive operates the business from its Manhattan Beach, Calif., offices with his son Michael Greenberg as president.

The father-son team doesn’t participate in quarterly earnings calls, and the CEO hasn’t done a major media appearance in about a decade. In 1989, Robert Greenberg sued American Airlines after the company published a photo of him in an in-flight magazine, saying he agreed to be interviewed on the condition that no photographs of him were published.

Skechers didn’t make the Greenbergs available for this article.

The entrepreneur moved to California in the 1970s and got his start in the footwear industry by selling E.T.-branded shoelaces. Greenberg and his son turned that business into L.A. Gear, which became a large athletic-shoe maker in the 1980s with celebrity endorsers such as Michael Jackson .

L.A. Gear ran into trouble when it entered the performance market, sponsoring such athletes as Wayne Gretzky and Joe Montana . Greenberg was ultimately pushed out of the company he had founded. Analysts said that, at the time, the company had expanded too quickly.

Skechers was started in 1992, but sales didn’t take off for decades. Weinberg, the Skechers operating chief who was also an executive at L.A. Gear, said Skechers needed investments in its global operations and time to grow.

Skechers had some success in the 2000s with celebrity ambassadors—including Britney Spears —and later with its Shape-Ups walking shoes in the early 2010s. As the company expanded, there was some fluctuation in the results, Weinberg said, and people began to think that it was a boom-or-bust business.

“Today, there’s no shoe, no category, no customer, no geography that is a make or break for us,” Weinberg said.

Filling holes left by rivals

Skechers shifted in recent years into the performance arena to fill what its leaders see as openings left by Nike and others.

The business got a boost from Nike’s decision during the pandemic to exit many retailers that catered to lower-income consumers and focus on selling directly to consumers. Nike also cut back on styles that sold for less than $100.

In late 2023, Nike sued Skechers, claiming its rival was infringing on Nike’s patents for its Flyknit technology for seamless shoes. Skechers responded that the lawsuit was baseless and an example of Nike using its financial resources to stifle competition. The case is pending.

Skechers executives said they are still more interested in creating comfy shoes than signing the most expensive athletes. On its website, the company dedicates a section to showcase its comfort technologies.

Maria Afsharian is a convert. The Montclair, N.J., real-estate agent wore only sandals and had given up on sneakers because she couldn’t find ones that wouldn’t hurt her heels. Last year, her chiropractor recommended Skechers.

“I don’t even think about my feet anymore,” Afsharian said. The 59-year-old said the Skechers Go Walk shoes have made her more active, and she doesn’t get blisters anymore. “Since I have these, I’m unstoppable,” she said.

Skechers does work with designers, street artists and celebrities, but executives said they don’t rely on projects that are limited releases because they don’t think limited releases generate the same hype and awareness as they do for other brands.

“That’s not really our consumer,” said Vandemore, the finance chief. “That’s not what somebody’s looking for us to do.”



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Randy Boyagoda’s new novel, “Lords of Serendipity,” delivers a biting satire of cheating, politics and dysfunction across modern universities.

By
Thu, Sep 3, 2026 5 min

Administrative cowardice. Rampant cheating. The soaking and scamming of undergrads and grad students. Performative wokeism. Intensifying competition for international tuition dollars from an expansive China.

These are either the latest dire headlines about American higher ed or the myriad subplots of “Lords of Serendipity,” an ambitious new novel by Randy Boyagoda. Unlike most campus fiction, its scope extends well beyond the cloister of the liberal arts classroom to whammy the entire university system, from its financial model to its function within a globalized economy. Along the way, it skewers its lightning-rod targets with a precision too sharp to be considered entirely fictional.

That its author is not only well-versed in satire, having written four other novels in the genre, but is also a professor of English at the University of Toronto and an experienced college administrator, further blurs the lines between comic fiction and brutal fact. It’s the kind of no-holds-barred book only a consummate insider would know to write—but only one who is also conveniently outside the American university system could get away with writing.

“This is someone who’s got the inside dope on what can go on at universities, especially with international students, and what kind of con games are going on,” said Margaret Atwood, a friend and fellow Torontonian.

The novel, like Boyagoda himself, is often very funny—even as the dilemmas its characters face read as tragedy. Its cast includes the bickering members of a Sri Lankan hotel cleaner’s family, insecure American freshmen, dead-end third-tier college professors and their highflying Ivy League counterparts and dispirited university functionaries. An old-fashioned Dickensian tale, it sweeps across continents and campuses, from a classic liberal-arts college to a stand-in for Harvard University to an urban technical school to the dilapidated buildings of a state-run university in Sri Lanka.

“I’m a joyful person,” Boyagoda said in an interview, though he prefers to see his outlook on academia as “hopeful” rather than optimistic. He smiles and laughs frequently. He bikes everywhere. He derives energy from his students and from his four daughters, ages 14 to 20. They help him and his American wife, Anna, also an educator, care for Boyagoda’s father, an immigrant from Sri Lanka who has dementia and lives with the family.

Randy Boyagoda speaks at a panel discussion.
Randy Boyagoda taking part in a panel discussion at the University of Toronto in 2024. Polina Teif/University of Toronto

The germ of the novel came to Boyagoda during the pandemic, when he was serving as a vice-dean. An urban legend was circulating about a statistics grad student selling passing grades to international students. The cheating scheme itself may well have been apocryphal, but it felt tantalizingly plausible.

“As a novelist, it stayed with me,” Boyagoda said. “Who would sell grades for a stats course? Why would someone buy grades? What’s motivating them? Why wouldn’t the university be doing something about it?” What he didn’t want to do, he explained, was write “another novel about a creative writing professor and his drama with students.”

In addition to writing novels—the first of which was a finalist for Canada’s prestigious Giller Prize; he’s written eight books in total—Boyagoda teaches literature full-time. For his students next semester, kids raised in a purportedly “post-literature era,” he’s assigning three 700-page novels, he noted mischievously, books by George Eliot, Ralph Ellison and Kiran Desai.

On RateMyProfessors, students remark on Boyagoda’s heavy assignments, tough grading and distaste for cellphones, but also hail his “comedy.” When alerted to these reviews, Boyagoda laughed. “Guilty as charged,” he said.

“Randy’s one of those people in academia who is very well educated but doesn’t have an ounce of superiority about him,” said John Irving, who frequently guest lectures in Boyagoda’s classroom. “It’s amazing to see how willing students are to talk in his classrooms, how little afraid they feel of being mocked or put down—he gets complete candor out of them.”

Negotiating competing interests seems to come naturally to him. Like many college campuses, after the Oct. 7 Hamas attack on Israel, the University of Toronto was embroiled in protests, encampments and discord; part of the school’s response was to convene a working group on civil discourse. Boyagoda was put in charge, serving for two years. It’s the kind of thankless task many professors would flee from, but Boyagoda relished the prospect and thinks the group, which is ongoing, made progress.

He has since pivoted to another formidable academic concern: the waning prestige of the humanities. In July, Boyagoda became the director of the Jackman Humanities Institute and special advisor on the humanities to the dean of arts and science. This fall, he is starting a series of gatherings he calls the Dead Book Club. (Dead writers feature heavily among his favorites: St. Augustine, Dante, William Faulkner, Evelyn Waugh, Saul Bellow.)

“The goal is to encourage students to read for its own sake and have conversation for its own sake,” Boyagoda said. “The importance of the humanities will be revealed to those who participate.”

Illustration of the book cover for "Lords of Serendipity" by Randy Boyagoda, depicting a woman wearing a hat with various buildings on top, against a blue background with a white airplane.

“Lords of Serendipity,” which publishes next week, reflects Boyagoda’s commitment to the pursuit of knowledge: “I’m supposed to say I learn more from my students than they do from me, but no,” Boyagoda said. “I enjoy sharing my excitement and joy about literature and ideas. There are these moments when you are teaching and you can see someone’s face change because they didn’t know something and then they did. That moment when you’re actually watch someone enlarge themselves is deeply satisfying.”

In literary circles, Boyagoda is often referred to as a Catholic novelist, a description he embraces. “A novelist willing to give shape and voice to contemporary religious experience is needed,” Boyagoda said. “I understand myself as a Catholic novelist, provided that I’m not only a Catholic novelist, I’m also a South Asian novelist and I’m a Canadian novelist. I don’t want to be captive to one label.”

His characters, he said, are subjected to what he calls “Graham Greene character situations.”

“They are trying to do good in a fallen world and realize the most they can do is less harm than someone else would do in that same role,” he explained. “They have to accept they are complicit in something that provides some good thing to others. It’s a very Graham Greene way of thinking about sacrifice.”

The campus green they inhabit is a febrile zone in which lofty ideals and cynicism regularly collide. It’s a place where a traditional holiday college celebration is now an occasion for political protest. Kids freely police one another inside and out of the classroom with social media their constant, ready weapon of choice. International students, knowing their family’s financial futures hinge on their degrees, operate in terror of failure and deportation.

Early readers of the book include Gary Shteyngart and Junot Diaz, both of whom have taught at universities and written comic novels. They each contacted Boyagoda midway through to say, in essence, “You nailed it.”

As biting as “Lords of Serendipity” can be, Boyagoda’s faith in higher education remains undaunted.

“It’s absurd that we live in societies that make the decision to take people between the ages of 18 and 22, when they are most physically capable of contributing to our nations and communities, and tell them, ‘Go away for four years, and read and learn and have conversations,’” he said. “I want students to be aware of what an incredible privilege that is.”

Corrections & Amplifications
Randy Boyagoda is a special advisor on the humanities to the dean of arts and science at the University of Toronto. An earlier version of this article incorrectly said he is a special adviser to the dean of humanities. (Corrected on Sept. 2)

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