Skechers to Open a Virtual Store in Decentraland

Skechers is opening in Decentraland (DCL). The top-three athletic footwear brand has leased a 5,000-square-foot space in DCL's Fashion District to offer an "immersive" shopping experience.

Skechers' president, Michael Greenberg, described the leasing agreement as a "investment" in the company's future. The company is excited to engage with customers in a new way and to offer a new Skecher's "experience."

“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,” said Michael Greenberg.

Skechers is one of many fashion brands that have recently entered the metaverse, such as Philipp Plein, who recently paid the equivalent of €1.2 million to purchase a large parcel of virtual real estate in the Decentraland metaverse. Other brands that have entered the metaverse include Gucci and Nike, JP Morgan, as well as the beauty giant L'Oréal.

Neither Greenberg nor any other Sketchers executive provided an ETA for the store's opening. Despite the lack of a public timeline for the project, Skechers' acquisition of land puts it ahead of many other companies with Web3 ambitions. Many brands and companies have applied for trademarks but haven't done anything concrete yet.