The approval by India’s competition regulator clears the way for Skechers’ change of control at a global level
The Competition Commission of India (CCI) has approved the proposed global transaction that will see 3G Capital Partners LP acquire sole control of Skechers U.S.A, Inc., with financial backing from Singapore’s GIC through its investment arm Kakapo Investment.
The proposed combination involves two linked transactions. Under the 3G Transaction, affiliates of funds managed by 3G Capital — Beach Acquisition Co Parent, LLC and Beach Acquisition Merger Sub, Inc., will indirectly acquire Skechers. At the same time, the GIC Investment will see Kakapo Investment inject capital to partly finance the deal, securing certain rights in the footwear giant.
The Acquirers, set up specifically for this transaction, are wholly owned by 3G Fund VI LP, managed by 3G Capital. Established in 2004, 3G Capital is a global investment firm known for its owner-operator model and focus on long-term brand value creation. The firm has previously made high-profile investments in international consumer brands across food, beverages, and retail.
The GIC Investor, wholly owned by GIC Blue Holdings, is part of the broader GIC ecosystem, Singapore’s sovereign wealth fund. It serves as an investment holding vehicle and is managed by GIC’s Special Investments and Integrated Strategies Group arms. Headquartered in the US, Skechers is a leading player in the footwear, apparel, and accessories sector, with a portfolio that spans casual, performance, work, and lifestyle shoes. Beyond footwear, the company designs and markets apparel, bags, eyewear, yoga and fitness gear, and cold-weather products. Its products cater to a wide demographic of consumers globally.
Implications
The approval by India’s competition regulator clears the way for Skechers’ change of control at a global level, underscoring continued interest from private equity firms and sovereign wealth funds in premium consumer brands with strong international footprints.
