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  "documentTitle": "Skechers U.S.A., Inc. (SKX)",
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  "authorName": "Spruce Point Capital Management",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2022-07-19 00:00:00",
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      "text": "Skechers' advertising campaigns rely heavily on retired or past-their-prime sports or entertainment personalities. However, we believe these efforts do little to generate brand appeal in international markets.",
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      "text": "Skechers' primary brand positioning is comfort at a reasonable price. As a result, the business has historically been driven by children (largely pre-high school) and women aged 35 and over. We believe “comfort” is an amorphous concept, and our conversations with a former international GM suggests the positioning may increasingly struggle overseas, particularly in Asia, where fashion plays a more important role in driving consumer purchase decisions. Furthermore, advertising is a major focus of the Company, with the Company’s motto being “Untold, Unseen, Unsold”. Skechers' advertising campaigns rely heavily on retired or past-their-prime sports or entertainment personalities. However, we believe these efforts do little to generate brand appeal in international markets.",
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      "text": "“They just do stupid commercials. They say ‘I’m comfortable’, but who cares. What does that even mean. They are very corny or cheesy. The retired athletes in the U.S. have no name value in Asia, and they still use them. They want Asians to follow the U.S., but Asians want something different... As a JV partner, you have to make U.S. management understand what you want to do, and that’s the hardest thing. Skechers doesn't let the JV partners spend on marketing like they want to.”",
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      "kind": "quote",
      "text": "“Skechers doesn't really represent anything in Asia. They just follow the trend. They are like pirates. They just copy other brands and then flood the market with cheap product...They aren't going to be big forever...It's all comfort... no offense, but it's old. It's for mature customers. Comfort means old. You grow with your customers, who then die off...Unless the younger generation really embraces comfort, they are just going to die off. It isn't clear where they are going with their brand. They've abandoned the performance division. Skechers failed miserably in Japan. Americans think they know everything, but they don't.”",
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      "text": "“The other international brands in China like Nike and Adidas do a lot of local collaborations. But Skechers doesn't do that. Many people really don't understand the brand. They need to do more to sustain the brand, but they are not. The others are doing all these hip things with designers and influencers. Nike invests a lot in current athletes, artists, and collaborations. Adidas the same thing. They are focused on what people want.”",
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      "text": "\"Skechers doesn't really represent anything in Asia. They just follow the trend. They are like pirates. They just copy other brands and then flood the market with cheap product...They aren't going to be big forever...It's all comfort... no offense, but it's old. It's for mature customers. Comfort means old. You grow with your customers, who then die off...Unless the younger generation really embraces comfort, they are just going to die off. It isn't clear where they are going with their brand. They've abandoned the performance division. Skechers failed miserably in Japan. Americans think they know everything, but they don't.\" — Spruce Point Interview With Former Regional GM Familiar With Asia",
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      "text": "Source: Spruce Point research",
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      "text": "Skechers' Long-Term Brand Positioning is Challenged, Especially in Asia-Pacific",
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      "kind": "title",
      "text": "Perspectives on the Skechers Brand in Asia-Pacific",
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