Who Is the Skechers Owner? Founder, Family, and Acquisition Explained

The Skechers owner for most of the brand's history was Robert Greenberg, who co-founded the company in 1992 with his son Michael. Last year, investment firm 3G Capital completed a roughly $9.5 billion acquisition of Skechers, taking it private.

The Greenbergs retained equity and both continue to lead the business.

Who Founded Skechers and How Did It Start

Robert Greenberg and his son Michael Greenberg co-founded Skechers in 1992 in Manhattan Beach, California. The company began as a distributor of Doc Martens footwear.

That arrangement fell through by 1993, and the Greenbergs pivoted to producing their own line of imported shoes at accessible price points.

That pivot turned out to be the right call. By 1996, when the first Skechers sneaker line launched under the brand's own name, annual revenue had reached $115 million.

What's often overlooked is how quickly the brand scaled after that: revenue grew to $185 million the following year.

In practice, Skechers succeeded by targeting a gap that performance brands were not focused on. Comfortable, affordable, trend-adjacent shoes for everyday wear. That positioning proved durable across decades.

Robert Greenberg: Background Before Skechers

Robert Greenberg was born in Boston, Massachusetts in 1940. His first career was not in business. He trained as a hairstylist and opened his first salon, Talk of the Town, in Brookline, Massachusetts in 1962.

What followed was a long run of ventures: a mail-order wig business, imported antique clocks, electronic tweezers, jeans, and roller skates. Each one gave him a sharper sense of what moved off shelves and why.

By the time he entered footwear in the early 1980s, he understood distribution and trend cycles well enough to move fast.

He founded L.A. Gear in 1983. The brand grew quickly, with sales topping $800 million in 1990, ranking it third behind Nike and Reebok at the time. The business collapsed shortly after due to overextension, and Greenberg was forced out in 1992.

His son Michael, who had been working at L.A. Gear as national sales manager, lost his position around the same time.

They started Skechers together shortly after, with roughly $13 million in starting capital.

How Skechers Grew Into a Global Footwear Company

Skechers went public in 1999 on the New York Stock Exchange under the ticker symbol SKX. Early investor reaction was cautious, given the L.A. Gear history. But the company kept delivering results.

In its last full year as a public company, as reported by Forbes, Skechers posted record annual sales of $9 billion, a 12% year-over-year increase. The brand had expanded into approximately 180 countries and operated around 5,300 retail stores worldwide.

It held a position as the third-largest footwear company in the world by that point, and was included in the Fortune 500.

Teams familiar with the footwear industry generally note that Skechers' consistency came from staying disciplined about its core positioning.

Rather than competing directly with premium athletic brands, it kept building out the comfort and lifestyle segment.

That focus is widely credited with sustaining its growth through multiple retail cycles. The Greenberg family, across Robert, Michael, and Robert's five other children, held approximately 12% of company shares through two family trusts at the time of the sale.

The 2025 Acquisition: Who Is the Skechers Owner Now

What 3G Capital Did as the New Skechers Owner

As reported by CNBC, 3G Capital agreed to acquire Skechers for $63 per share, a 30% premium to its market price, in a deal announced on May 5, 2025.

The acquisition was completed on September 12, 2025.

Skechers shares were delisted from the NYSE on that date. The company is now privately held.

3G Capital is a global private investment firm founded in 2004. Its previous acquisitions include Burger King and Tim Hortons.

The firm operates on a long-term, owner-operator model and has a documented pattern of retaining existing management teams after closing deals.

How the Greenberg Family's Stake Was Handled

The Greenbergs chose to receive $57 in cash per share plus one share of the new private parent company, rather than a full cash exit at $63 per share.

Across their total holdings, that translated to approximately $1 billion in cash and around $100 million in equity in the new private entity.

Robert's five other children, Jennifer, Scott, Jeffrey, Jason, and Joshua, were listed as beneficiaries of the two family trusts that held the shares. Jason and Joshua also held executive positions at the company before and after the deal.

Robert Greenberg remained CEO and Michael Greenberg remained President after the acquisition closed.

Operationally, the Greenbergs continue to run the business. In terms of controlling ownership, 3G Capital is now the majority owner.

Skechers Ownership: Key Facts at a Glance

This summary reflects publicly confirmed information as of the acquisition date. Financial details beyond this point are not publicly disclosed, as Skechers no longer files as a public company.

Conclusion

Skechers was built by the Greenberg family over more than 30 years. As of September 2025, 3G Capital holds controlling ownership through a $9.5 billion acquisition.

Robert and Michael Greenberg retain equity and continue to serve as CEO and President respectively.

Frequently Asked Questions

Who is the original founder and owner of Skechers?

Robert Greenberg co-founded Skechers in 1992 alongside his son Michael Greenberg in Manhattan Beach, California. Robert has served as CEO since the company's founding and continues in that role under 3G Capital's ownership.

Is Skechers still owned by the Greenberg family?

The Greenberg family retains an equity stake in the privately held company following the 2025 sale. However, 3G Capital acquired controlling ownership through a $9.5 billion deal completed in September 2025.

Is Skechers publicly traded?

No. Skechers traded on the NYSE under the ticker SKX until September 12, 2025. After the 3G Capital acquisition closed, the company was taken private and shares are no longer publicly traded.

Who is the current CEO of Skechers?

Robert Greenberg, the Skechers co-founder, remains CEO following the 3G Capital acquisition. His son Michael Greenberg continues to serve as President of the company.

What is 3G Capital?

3G Capital is a private investment firm founded in 2004, known for long-term acquisitions of major consumer brands including Burger King and Tim Hortons. It completed its purchase of Skechers in September 2025.