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LA Gear went further in 1993 by introducing the Leap Gear line of performance basketball shoes, which would light up when the player would jump off the ground. The program's success led to an exclusive national television advertising campaign with over 2000 doors at Foot Locker Inc.
Skechers was founded in 1992 by Robert Greenberg, who had previously founded LA Gear in 1983 (he stepped down as CEO of that company the same year he founded Skechers). Greenberg sought to focus on men's street shoes; Skechers' early products were utility-style boots popular in grunge fashion. [3]
Champs Sports was acquired in the 1980s by the Woolworth Corporation, then a specialty store division of the F. W. Woolworth Company.It, along with Foot Locker (which was owned by Woolworth and is now the name of the company that succeeded Woolworth), sold athletic merchandise, replacing the five and dime and department store concepts with the increasing specialty store concept.
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In the U.S., the annual footwear industry revenue was $48 billion in 2012. In 2015, there were about 29,000 shoe stores in the U.S. and the shoe industry employed about 189,000 people. [47] Due to rising imports, these numbers are also declining. The only way of staying afloat in the shoe market is to establish a presence in niche markets. [48]
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