Cuban Says He’s Not an Investor in Skechers Shoes
“I just really like mid-foot strike technology and Skechers is the best,” Cuban said today in an e-mail. “I have been wearing their shoes since they came out 3 or 4 years ago.”
Skechers, based in Manhattan Beach, California, announced earlier today that Cuban would be featured in an advertisement via a press release headlined, “Mark Cuban ‘Buys Into’ Skechers” that prompted a rise in the share price.
The Super Bowl ad highlighting Skechers’ GOrun shoe will be part of a campaign that also includes Cuban in print and online marketing, the company said. Skechers has been working to increase its appeal as an athletic brand with endorsement deals with former professional sports stars such as Joe Montana and Kareem Abdul-Jabbar.
Skechers advanced 8.4 percent to $12.42 at the close in New York. The shares fell 39 percent last year.
Cuban is owner of the National Basketball Association’s Dallas Mavericks, the HDNet high-definition television channel and the Landmark Theater chain.
The ad will mark the third-straight year Skechers has bought air time during the National Football League championship game. Last year’s commercial featured reality-television star Kim Kardashian. The game airs Feb. 5.
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