Buying SKX @ $31.07
2% position
Skechers USA is a shoe company, first and foremost. People who grew up in the 90s will think of them as a cheap shoe company that memorably made the "shape ups" or whatever the name was. A shoe with a rounded bottom to help women get in shape.
That's not the company any more.
I first started getting interested in SKX as I've gotten really into running in the last year. Carbon plates inside shoes is the latest racing shoe craze. Skechers came out with the cheapest carbon plate shoe, which caught my attention. They've also had pretty good success in the affordable performance running category. Both trail running and road running.
At ~30x P/E, it definitely isn't cheap.
But it's as pure of a way to play affordable fitness as possible.
I'd pick HOKA if it wasn't such a tiny part of DECK (Deckers). HOKA is making major inroads in the running world. If it was a pure-play public company, I'd have a core allocation to it. If DECK pulls down 20% or so, I'll get it into the portfolio.
But for now, we'll use SKX as the way to play.
2% position
Skechers USA is a shoe company, first and foremost. People who grew up in the 90s will think of them as a cheap shoe company that memorably made the "shape ups" or whatever the name was. A shoe with a rounded bottom to help women get in shape.
That's not the company any more.
I first started getting interested in SKX as I've gotten really into running in the last year. Carbon plates inside shoes is the latest racing shoe craze. Skechers came out with the cheapest carbon plate shoe, which caught my attention. They've also had pretty good success in the affordable performance running category. Both trail running and road running.
At ~30x P/E, it definitely isn't cheap.
But it's as pure of a way to play affordable fitness as possible.
I'd pick HOKA if it wasn't such a tiny part of DECK (Deckers). HOKA is making major inroads in the running world. If it was a pure-play public company, I'd have a core allocation to it. If DECK pulls down 20% or so, I'll get it into the portfolio.
But for now, we'll use SKX as the way to play.
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