SKECHERS Signs Licensing Agreement for Branded Luggage and Travel Accessories

MANHATTAN BEACH, Calif.--(BUSINESS WIRE)--SKECHERS USA, Inc. (NYSE:SKX), a global leader in the lifestyle footwear industry, today announced that it has signed a licensing agreement with Olivet International for SKECHERS-branded luggage and travel accessories for men, women and kids. The collection is scheduled to launch in Fall 2011 in the U.S. and Canada.

“The SKECHERS logo is one of the most recognized brands in the world”

Under the agreement, Olivet International will design, produce and distribute SKECHERS-branded suitcases, wheeled totes, duffle bags and garment bags to launch in department stores, specialty stores and online retailers.

“Olivet is one of the largest luggage and accessories companies in North America and has an outstanding reputation for design excellence,” said Michael Greenberg, president of SKECHERS. “The new travel collections are an exciting addition to the SKECHERS brand, and we’re confident that Olivet will produce fashionable, on-trend products that perfectly complement our footwear and accessories collections.”

"The SKECHERS logo is one of the most recognized brands in the world,” said Jack Holodnicki, president of Olivet International. “They are a global leader in lifestyle and athletic footwear arena, and the new SKECHERS luggage collections will be an easy extension of the brand.”

In addition to Olivet International, SKECHERS has partnered with licensees to produce a wide range of products including children’s apparel, bags, sunglasses, legwear, medical scrubs and leather accessories. The Company is currently negotiating with additional licensees both domestic and abroad and continues to seek partnerships and opportunities that will bring the SKECHERS brand to new product segments around the globe.

About Olivet International, Inc.

Founded in 1984, Olivet International is a global trading company that designs and markets a wide range of products including luggage, handbags, insulated bags, bath products and apparel. Olivet holds licenses in various categories with many notable brands including Tommy Hilfiger, Jessica Simpson, Ellen Tracy, Jeep, Dockers, Joseph Abboud and Nascar. With headquarters in Mira Loma, California and offices in New York, Minneapolis, Boston, Los Angeles and various locations in China and Taiwan, Olivet is a global leader in the luggage and travel goods industry. For more information, please visit www.olivetintl.com.

About SKECHERS USA, Inc.

SKECHERS USA, Inc., based in Manhattan Beach, California, designs, develops and markets a diverse range of footwear for men, women and children under the SKECHERS name, as well as under several uniquely branded names. SKECHERS footwear is available in the United States via department and specialty stores, Company-owned SKECHERS retail stores and its e-commerce website, as well as in over 100 countries and territories through the Company’s global network of distributors and subsidiaries in Canada, Brazil, Chile, and across Europe, as well as through joint ventures in Asia. For more information, please visit www.skechers.com.

This announcement may contain forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or simply state future results, performance or achievements, and can be identified by the use of forward looking language such as "believe," "anticipate," "expect," "estimate," "intend," "plan," "project," "will be," "will continue," "will result," "could," "may," "might," or any variations of such words with similar meanings. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected in forward-looking statements. Factors that might cause or contribute to such differences include international, national and local general economic, political and market conditions including the global economic slowdown and the ongoing financial crisis and market instability; entry into the highly competitive performance footwear market; sustaining, managing and forecasting costs and proper inventory levels; losing any significant customers, decreased demand by industry retailers and cancellation of order commitments due to the lack of popularity of particular designs and/or categories of products; maintaining brand image and intense competition among sellers of apparel, accessories, footwear and other merchandise for consumers; anticipating, identifying, interpreting or forecasting changes in fashion trends, consumer demand for the products and the various market factors described above; sales levels during the spring, back-to-school and holiday selling seasons; and other factors referenced or incorporated by reference in SKECHERS’ Form 10-K for the year ended December 31, 2009 and SKECHERS’ Form 10-Q for the quarter ended June 30, 2010. The risks included here are not exhaustive. SKECHERS and Olivet International operate in a very competitive and rapidly changing environment. New risks emerge from time to time and the companies cannot predict all such risk factors, nor can the companies assess the impact of all such risk factors on their respective businesses or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, you should not place undue reliance on forward-looking statements as a prediction of actual results. Moreover, reported results should not be considered an indication of future performance.