Skechers to open experiential store in Decentraland metaverse
Skechers has announced that it is entering the metaverse, becoming the first brand to sign a lease in the Fashion District of Decentraland, the Ethereum-based virtual world.
The lease agreement for the 5,000 sq ft space will allow Skechers to build an experiential store on Decentraland's Fashion District, which will also host the first-ever Metaverse Fashion Week from 24 to 27 March.
The global lifestyle brand has also filed trademark applications throughout the world to sell virtual goods including footwear and apparel, setting the foundation for new growth opportunities in the metaverse.
Michael Greenberg, President of Skechers said: "Our Decentraland agreement is an investment in our future. We look forward to embarking on this virtual era, and exploring creative ways for our brand to engage with new customers and audiences as we launch the new Skechers experience."
The company recently revealed that its 2021 revenues surpassed $6.29 billion, with plans to reach $10 billion in annual sales by 2026.