Footwear business Skechers USA has launched a new subsidiary in Latin America, transitioning the business from a third-party distributor.

The subsidiary will oversee more than 30 countries in the region, including the four key markets of Panama, Peru, Colombia and Costa Rica.

Skechers said it plans to build on its 20-year history in Latin America with the move through growing its operations and footprint, transitioning 21 Skechers stores in the region to subsidiary-owned and -operated locations.

The company said it will also be looking at new retail destinations and expanding its account distribution base.

"With the increased demand for our brand and incredible growth that Skechers has experienced over the last few years – including our international wholesale business, which has grown more than 60% in the second quarter of 2015 year over year – we see an opportunity to drive our Latin America business to the next level," said COO David Weinberg. "We believe that we can use the strengths of our marketing, advertising, capital and infrastructure to significantly grow this key market, helping it reach its full potential."