Expanded Reach in Europe with Local Expertise

  • Skechers acquires Scandinavian distributor Sports Connection Holding Aps
  • Peter Jørgensen to serve as country manager for Skechers in Nordic countries
  • 58 retail locations, e-commerce solutions and over 1600 wholesale customers included in the deal
  • Sports Connection has been Skechers’ exclusive distributor since 2005

Skechers has announced the acquisition of its existing Scandinavian distributor, Sports Connection Holding Aps. The deal includes 58 Skechers retail locations, several e-commerce solutions and over 1600 wholesale customers. Sports Connection will become a wholly-owned subsidiary of Skechers, responsible for driving the brand’s growth in Denmark, Finland, Norway, Sweden, Greenland, and the Faroe Islands. The company plans to continue operations at former Sports Connection offices and showrooms in Finland, Norway, Sweden, and Denmark. Peter Jørgensen, CEO of Sports Connection, will serve as Skechers country manager for all Nordic countries. Skechers COO David Weinberg expressed excitement about the acquisition, stating that it would allow them to combine local expertise with worldwide capabilities for further growth in Europe.

Factuality Level: 10
Factuality Justification: The article provides accurate information about Skechers’ acquisition of Sports Connection Holding Aps, details about the business and its operations, and quotes from relevant parties that support the announcement.
Noise Level: 2
Noise Justification: The article provides relevant information about a company acquisition and expansion into new markets, with no irrelevant or misleading content. It also includes quotes from key figures involved in the deal. However, it does not offer any analysis or insights beyond the basic facts of the announcement.
Financial Relevance: Yes
Financial Markets Impacted: Skechers’ stock price may be impacted by this acquisition news.
Financial Rating Justification: The acquisition of a distributor by Skechers indicates a strategic business move that could potentially affect the company’s financial performance and stock value, making it financially relevant.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: No extreme event mentioned in the text.

Reported publicly: www.retailsector.co.uk