Skechers announced that it is entering the metaverse. The global lifestyle brand is the first to sign a lease in the Fashion District of Decentraland. The Company also recently filed trademark applications throughout the world to sell virtual goods such as footwear and apparel—setting the foundation for new growth opportunities in the metaverse.
“Our Decentraland agreement is an investment in our future,” said Michael Greenberg, president of Skechers. “We look forward to embarking on this virtual era, and exploring creative ways for our brand to engage with new customers and audiences as we launch the new Skechers experience.”
With plans to open a store in Decentraland, Skechers is one of many fashion brands who has entered the metaverse in recent months such as Philipp Plein who recently forked out the equivalent of €1.2 million to buy a huge tract of virtual real estate in the Decentraland metaverse. Other brands to enter the metaverse varies from Gucci and Nike to beauty giant L’oréal.
A global designer, developer and marketer of lifestyle footwear, apparel and accessories, Skechers’ multiplatform campaigns connect billions of consumers to its latest styles and comfort technologies—from fashion trends to performance innovations, work shoes, charity collections, children’s styles and more. The Company surpassed $6.29 billion in 2021 revenues, and plans to reach $10 billion in annual sales by 2026.