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The Game's Hurricane Kicks Blow Off The Shelves
Strong sales of The Game's new sneaker helps Skechers U.S.A Inc. shares rise 8%.
According to research reports from Wedbush Morgan Securities, Game's Hurricane shoe designed by 310 Motoring has recorded strong sales since its release into stores late last year.
"The product arrived in stores on December 26 and we found that many locations have already sold out and reordered the sneaker," Wedbush analyst Vera Van Ert told the Dow Jones Newswire. "Interestingly, the sneaker was designed in collaboration with rap artist The Game and we noted that sales-thrus were especially strong in his hometown of Los Angeles."
Skechers' stock recently rose to $17.37 a share, showing a $1.24 hike. Van Ert also pointed out that Skechers' popularity is also growing among the young adult demographic and is poised for a bigger growth in the future.
"This is Game's report card to corporate America that he has the power to reach more than just the urban community," Jimmy Henchmen, Game's manager, told SOHH.com. "And he was able to accomplish this without diluting his craft. This is an example that Hip-Hop has open the door that was previously closed."
Source: sohh.com
According to research reports from Wedbush Morgan Securities, Game's Hurricane shoe designed by 310 Motoring has recorded strong sales since its release into stores late last year.
"The product arrived in stores on December 26 and we found that many locations have already sold out and reordered the sneaker," Wedbush analyst Vera Van Ert told the Dow Jones Newswire. "Interestingly, the sneaker was designed in collaboration with rap artist The Game and we noted that sales-thrus were especially strong in his hometown of Los Angeles."
Skechers' stock recently rose to $17.37 a share, showing a $1.24 hike. Van Ert also pointed out that Skechers' popularity is also growing among the young adult demographic and is poised for a bigger growth in the future.
"This is Game's report card to corporate America that he has the power to reach more than just the urban community," Jimmy Henchmen, Game's manager, told SOHH.com. "And he was able to accomplish this without diluting his craft. This is an example that Hip-Hop has open the door that was previously closed."
Source: sohh.com