Mark Cuban to Promote Skecher’s Shoe LineTuesday, January 10, 2012
Shares of Skechers USA Inc. rose 8 percent on Tuesday after the maker of casual shoes announced that tech billionaire and Dallas Mavericks owner Mark Cuban would be featured in the company’s Super Bowl commercial promoting its line of high-performance running shoes.
The Super Bowl spot is scheduled to premiere during the two-minute warning in the first half of the Feb. 5 game.
Cuban, who also owns the HDNet high-definition television channel and the Landmark Theater chain, also has committed to appearing in a television, print, outdoor, in-store, online and viral marketing campaign. Terms of the deal were not disclosed, but Cuban has said he does not have a stake in the company.
"I pride myself on identifying technological breakthroughs and I have been wearing Skechers mid-foot strike products since they were introduced and felt the difference after standing on the court for hours at a time," said Cuban in a statement. "Skechers is coming to the running game with a star player, a real winner, and I am happy to be backing this exceptional product."
Skechers has struggled to regain its footing after sales of its wildly successful Shape-ups toning shoes, which are promoted by reality TV star Kim Kardashian, began sagging last year.
Shares closed up 96 cents, or 8 percent, to $12.42 on the New York Stock Exchange.