An Unheralded Sneaker Company Has Quietly Been Making Billions

Skechers’ sales are soaring. The company’s revenue in fiscal 2015 totaled $3.15 billion, which represents a 32% gain over the previous year. Skechers’ recent success can be attributed in part to consumers’ growing preferences for comfortable, stylish shoes over basketball sneakers, according to a new report from Morgan Stanley. “Athletic footwear fashion is changing, but trends are moving in a direction which is favorable to Skechers,” analysts write. “Comfort styles, which Skechers sells very well, are hot and categories where Skechers does not play, e.g. basketball, are slowing.” Read more at Business Insider.