Skechers Collaborates with Goodyear on Footwear

MANHATTAN BEACH, Calif., Feb. 26, 2020 /PRNewswire/ -- Global footwear powerhouse Skechers is building on the technology in its footwear through a new collaboration with The Goodyear Tire & Rubber Company (NASDAQ: GT). Select styles across multiple categories for men, women and kids will utilize Goodyear rubber technology in custom Skechers outsoles that will deliver increased grip, stability and durability.

"This collaboration is an example of two trusted brands coming together to create a high-tech product that will truly benefit our consumer," said Michael Greenberg, president of Skechers. "Through this effort, select products will feature Goodyear Performance Outsoles, offering that extra edge where it's needed most—be it enhanced stability on a run, excellent grip over slippery surfaces in the workplace, or durability on the playground for long-lasting wear. We expect this will resonate with our customers who need these innovations in the comfortable Skechers footwear that they love."

"Goodyear has always worked to create innovative products that provide consumers with high-performance tires, and now we're using that same ingenuity to enable consumers to wear high-performance shoes," said Christian Jurado, Goodyear's global director of licensed products.

The shoes, featuring Goodyear Performance Outsoles, are designed for durability with long-lasting wear, excellent grip on a variety of surfaces and weather conditions and enhanced stability through exceptional traction. This is made possible with Goodyear-developed rubber technology that contains a special polymer including sustainable soybean oil—a renewable, bio-based material used in some of the company's top-performing tires – available in the U.S. and Canada – the Assurance® WeatherReady®, Eagle® Exhilarate® and Eagle® Enforcer® All Weather® and the Assurance ComfortDrive®.

Initially launched on three running shoes from the Skechers GOrun collection, the range of styles featuring Goodyear Performance Outsoles now includes a wider assortment of running and walking sneakers and will expand through 2020 to athletic lifestyle, trail, and work footwear categories for men and women, as well as kids' styles.

Skechers styles featuring Goodyear Performance Outsoles are available at Skechers retail stores, www.skechers.com, and select retail partners.

About Skechers U.S.A., Inc.
Based in Manhattan Beach, California, Skechers (NYSE:SKX) designs, develops and markets a diverse range of lifestyle footwear for men, women and children, as well as performance footwear for men and women. Skechers footwear is available in the United States and over 170 countries and territories worldwide via department and specialty stores, more than 3,550 Skechers Company-owned and third-party-owned retail stores, and the Company's e-commerce websites. The Company manages its international business through a network of global distributors, joint venture partners in Asia, Israel and Mexico, and wholly-owned subsidiaries in Canada, Japan, India, and throughout Europe and Latin America. For more information, please visit about.skechers.com and follow us on Facebook, Instagram, and Twitter.

About The Goodyear Tire & Rubber Company
Goodyear is one of the world's largest tire companies. It employs about 63,000 people and manufactures its products in 47 facilities in 21 countries around the world. Its two Innovation Centers in Akron, Ohio, and Colmar-Berg, Luxembourg, strive to develop state-of-the-art products and services that set the technology and performance standard for the industry. For more information about Goodyear and its products, go to www.goodyear.com/corporate.

Reference in this press release to "Sales" refers to Skechers' net sales reported under generally accepted accounting principles in the United States. This announcement also contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, Skechers' future domestic and international growth, financial results and operations including expected net sales and earnings, its development of new products, future demand for its products, its planned domestic and international expansion, opening of new stores and additional expenditures, and advertising and marketing initiatives. Forward-looking statements can be identified by the use of forward-looking language such as "believe," "anticipate," "expect," "estimate," "intend," "plan," "project," "will be," "will continue," "will result," "could," "may," "might," or any variations of such words with similar meanings. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected in forward-looking statements. Factors that might cause or contribute to such differences include international economic, political and market conditions including the challenging consumer retail markets in the United States; the disruption of business and operations due to the coronavirus; sustaining, managing and forecasting costs and proper inventory levels; losing any significant customers; decreased demand by industry retailers and cancellation of order commitments due to the lack of popularity of particular designs and/or categories of products; maintaining brand image and intense competition among sellers of footwear for consumers, especially in the highly competitive performance footwear market; anticipating, identifying, interpreting or forecasting changes in fashion trends, consumer demand for the products and the various market factors described above; sales levels during the spring, back-to-school and holiday selling seasons; and other factors referenced or incorporated by reference in Skechers' annual report on Form 10-K for the year ended December 31, 2018, and its quarterly report on Form 10-Q for the three months ended September 30, 2019. The risks included here are not exhaustive. Skechers operates in a very competitive and rapidly changing environment. New risks emerge from time to time and we cannot predict all such risk factors, nor can we assess the impact of all such risk factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, you should not place undue reliance on forward-looking statements as a prediction of actual results. Moreover, reported results should not be considered an indication of future performance.

SOURCE The Goodyear Tire & Rubber Company

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http://www.goodyear.com