Skechers: A Checkered Past-Will it have a Stable Future?
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Case Code: BSTR489 Case Length: 13 Pages Period: 1962-2015 Pub Date: 2017 Teaching Note: Available |
Price: Rs.600 Organization: Skechers USA Inc. Industry: Footwear Industry Countries: US, Global Themes: Business Strategy, Brand Management |
Abstract Case Intro 1 Case Intro 2 Excerpts
Background Note
Greenberg spent his childhood and young adulthood working at his father's fresh-produce stand called 'Belle's Market'. Later, he attended a hair-dressing school and became a hair stylist. In 1962, Greenberg opened a hair salon called 'Talk of the Town' in Massachusetts, US. In 1965, he
established a wholesale business that sold hair wigs called 'Wig Bazaar' after he discovered that the business was so lucrative that a US$ 50 could be sold for US$ 300. Three years later, he opened a retail outlet called 'Wigs 'n Things', apart from starting a mail order business for wigs. Eventually the wigs business emerged to be worth US$ 5 million. He then consolidated his wig business under the name 'Europa Hair', which he sold off in 1974.
Over the years, though Greenberg never invented anything himself; he capitalized on other people’s ideas to make millions. In 1973, he began importing and selling antique clocks from Korea. A few years later, he sold imported jeans under the brand name 'Wild Oats' at department stores. In 1977, he sold electronic tweezers for facial hair through a company called 'Removatron'. In 1979, Greenberg incorporated Good Times, Inc. (GTI) through which he operated a roller skates sales and rental shop in Los Angeles, US called 'Roller Skates of America'. When the sales of the skates declined, he closed the business and opened a women’s apparel store called L.A. Gear that sold branded clothes, shoes, and accessories, in 1982. Greenberg then launched the L.A. Gear (LAG) brand under which he sold casual clothes, shoes, and sandals. He also renamed GTI as L.A. Gear, Inc. (LAGI). When the retail store began to turn unprofitable, Greenberg wound up the business and began a wholesale business that solely sold shoes under the LAG brand...
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