Skechers to open a virtual store in Decentraland

Skechers to open a virtual store in Decentraland

A California-based footwear company, Skechers, has announced that it’s planning to build a virtual store in the Decentraland metaverse. Reportedly, the brand has signed a lease of virtual land in the Fashion District of Decentraland. Moreover, it has also filed a number of trademark applications to sell virtual goods, including footwear and clothes. This lays the groundwork for new metaverse growth opportunities.

Skechers is the third-largest sports shoe brand in the world. In 2021, it surpassed 6.29 billion USD in revenue. The brand expects to hit 10 billion USD in annual sales by 2026. In order to explore growth potential in the metaverse, Skechers has rented a 5,000 square foot virtual land on Decentraland’s Fashion Street. It intends to open an immersive store in the metaverse.

Michael Greenberg, Skechers President, stated that joining the metaverse is the brand’s investment in their future and that their goal is to explore creative ways to engage with new customers and audiences. 

The Skechers announcement is the latest in a long list of big companies entering the metaverse. Last month, the leading global financial services firm JPMorgan opened a lounge in Decentraland. Samsung also opened a virtual store in the popular metaverse at the beginning of the year.