Skechers Expands in South America

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Casual shoemaker Skechers USA Inc. said Thursday it has established a new subsidiary in Chile that will become the base its South American distribution.

Skechers Chile Ltda. will be responsible for distribution of Skechers products throughout the region. The new unit of the Manhattan Beach company will be lead by Santiago Polanco and Cristian Donghi, who were in charge of distributing Skechers products there through a previous 10-year-old agreement. Chile becomes the 16th foreign nation where the company directly handles its sales.

“Chile has become an essential component to our Latin American strategy,” President Michael Greenberg said in a statement. “It will complement our growing business in Brazil through a recently established subsidiary along with our sales across many Central and South American countries, which are handled by our largest distributor based in Panama.”

Skechers sales last year grew 3.3 percent to $1.44 billion, while net income fell nearly 27 percent to $55.4 million.

Skechers shares were down 7 cents, or about 1 percent, to $6.51 in morning trading on the New York Stock Exchange.

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