Shares of Skechers (NYSE:SKX) advanced 1.9% Monday after American Meb Keflezighi, who is sponsored by the shoe manufacturer, won in the Boston Marathon.
Keflezighi, who won Boston in a time of 2:08:37, originally signed with Skechers in 2011 and in 2013 re-signed with the company through 2016.
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"This is a very significant win for both Meb and the Skechers Performance Division, but also, and more importantly, for Boston and America," said Rick Higgins, VP of Merchandising & Marketing for the Skechers's performance unit, in a statement.
"We are so proud of Meb and his monumental accomplishment on what was clearly a very emotional day. We could not think of a better Skechers Performance brand ambassador than Meb."
Keflezighi debuted the company’s new SkechersGOmeb Speed 3 in the Boston win coinciding with Skechers’s new ad campaign.