Deckers Brands
 | |
 Headquarters in Goleta, California | |
| Company type | Public |
|---|---|
| Founded | 1973 |
| Founders | |
| Headquarters | Goleta, California, U.S. 34°25′47″N 119°51′43″W / 34.4296°N 119.86202°W |
Number of locations | 164 (2024) |
Area served | Worldwide |
Key people | Michael Devine III (Chairman) Stefano Caroti (CEO) |
| Products | Footwear, apparel, and accessories |
| Revenue |  US$4.29 billion (2024) |
| US$928 million (2024) | |
| US$760 million (2024) | |
| Total assets | US$3.14 billion (2024) |
| Total equity | US$2.11 billion (2024) |
Number of employees | ≈ 4,800 (2024) |
| Subsidiaries |
|
| Website | deckers |
| Footnotes / references Financials as of March 31, 2024[update].[1] | |
Deckers Outdoor Corporation, doing business as Deckers Brands, is a footwear designer and distributor based in Goleta, California, United States. It was founded in 1973 by University of California, Santa Barbara alumni Doug Otto and Karl F. Lopker.[2][3][4] In 1975, the company was incorporated in California under the name Deckers Corporation. In October 1993, Deckers initiated a public offering of stock in its company. Deckers' portfolio of brands includes UGG, Teva, Hoka One One, and Koolaburra.
History
[edit]In 1973, Karl Lopker began his career making and selling flip-flops at craft fairs along the West Coast of the United States. In 1975, Doug Otto visited Hawaii on business and found that locals referred to his sandals as "deckas", a slang word based on their striped layered construction that resembled a "deck" of stacked wood. Liking the name, Lopker and Otto named their brand Deckers.[5]
In 1985, Deckers expanded its range of sandals when it entered into a licensing agreement to produce and distribute Teva sandals. Deckers purchased Teva's patents, trademarks, and other assets in 2002.[6]
The company was renamed Deckers Outdoor Corporation when it went public on the NASDAQ in 1993, and Deckers purchased Simple Shoes.
In 1995, Deckers purchased UGG Holdings. UGG boots became well known after they were included on The Oprah Winfrey Show's Favorite Things segment in 2003.
In 2010, Deckers acquired MOZO Shoes, a brand that produced footwear for the culinary industry. The following year, Deckers acquired Sanuk shoes for $120 million, which it later divested to Canadian sportswear company Lolë.[7][8] In 2013, Deckers acquired Hoka One One.[9] In 2015, Deckers acquired Koolaburra and positioned it under its UGG brand.[10]
Brands
[edit]UGG
[edit]
UGG brand boots have a sheepskin upper with a wool inner lining and a tanned outer surface worn by men and women. Surfing helped popularize the boots outside of Australia and New Zealand, when surfer Brian Smith started selling the boots in the US through UGG Holdings, Inc. in 1979.[11]
Deckers is considered a niche market supplier due to heavy reliance on its UGG brand, a fashion luxury item, in its sales. In the economic downturn of 2008, Deckers continued to show earnings and sales growth.[12] UGG boots are Deckers' primary source of revenue.[1]
Hoka
[edit]Hoka is a sportswear company that designs and markets running shoes. It was founded in 2009 in Annecy, France, and had been based in Richmond, California before it was acquired by Deckers Brands in 2013. Hoka first gained attention in the running industry by producing shoes with oversized midsoles, dubbed "maximalist" shoes. It has sponsored a variety of professional runners and running competitions.
Teva
[edit] | |
| Founded | 1984 |
|---|---|
| Founder | Mark Thatcher |
| Products | Footwear and accessories |
| Parent | Deckers Brands |
| Website | teva.com |
Geophysicist Mark Thatcher invented Teva (Hebrew: טבע, pronounced "teh-vah" not "tee-vah," Hebrew for "nature"[13]). While working as a rafting guide in 1982 he noticed the lack of proper shoes for river activities. Sneakers would become heavy when wet and would take days to dry, and flip-flops would slide off feet very easily.
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Thatcher added a nylon ankle strap to a traditional thong-style sandal, thus creating the first sports sandal. Thatcher patented his invention and signed an agreement with the shoemaker California Pacific to manufacture the shoes. He marketed the "amphibious utility sandals" as their salesman, selling 200 pairs the first year. Although it was effective water sports footwear, it proved less effective for regular sports, as the first Teva users often complained of blisters between the first and second toes caused by the thong-style strapping system. However in 1984 demand for Teva sandals suddenly increase as young Americans found the sandal fashionable. California Pacific then claimed rights over the Teva name and patent, stating that Thatcher was merely an employee of their company. Thatcher sued California Pacific and won his case the following year, severing links with California Pacific. He then started the Teva company in Flagstaff, Arizona.[14]
In late 1985, Thatcher set up an exclusive licensing agreement with Deckers Corporation to manufacture and distribute Teva sandals. Deckers eventually obtained exclusive rights to Teva, including US patent #4,793,075 for the basic design and a trademark for the brand name. The sandal was redesigned, creating the "Universal Strapping System". The strapping system includes a heel strap that goes around the ankle to prevent the sandal from sliding off, and a side strap that prevents the sandal from stretching in awkward positions where injury could occur. Each strap is connected to the others by triangular "rings". The basic model consists of a two-layer sole; the inner sole is softer and serves as the footbed, and most models come with arch support and Microban Zinc, a technology that reduces odor and kills bacteria. The outer sole is harder and is formulated to have a good grip on wet surfaces.[citation needed]
On November 25, 2002, Deckers Outdoor Cooperation acquired the worldwide Teva patents, trademarks, and other assets from Mark Thatcher.[6]
Koolaburra
[edit]Koolaburra is an American importer of sheepskin footwear founded in 1991.[15] Originally based in Santa Barbara, California, Koolaburra boots and shoes are currently made in Vietnam, and in the past have been made in Australia, Spain, Portugal, and China.[16]
In 2005, it lost a lawsuit with Deckers Outdoor Corporation about the use of the term "ug" in reference to Australian sheepskin boots.
Deckers Brands acquired Koolaburra in 2015 and positioned it under its UGG brand.[10]
References
[edit]- ^ a b "FY 2024 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. May 24, 2024.
- ^ Leff, Lisa (February 16, 1997). "Money, Fame And Family". The Los Angeles Times. Retrieved October 14, 2014.
- ^ Stewart, Ethan (December 8, 2011). "Diamonds on the Soles of Their Shoes". The Independent. Archived from the original on October 21, 2014. Retrieved October 14, 2014.
- ^ Olsen, Patricia R. (January 23, 2010). "The Joy of a Family Shop". The New York Times. Retrieved October 14, 2014.
- ^ "Company History". Deckers Outdoor Corporation. Retrieved April 14, 2014.
- ^ a b "Deckers Outdoor Corporation Form 8-K/A". U.S. Securities and Exchange Commission. Retrieved May 21, 2023.
- ^ "Deckers Outdoor to Acquire Sanuk; Valuation Set at More than 3X Sales | SGB Media Online". sgbonline.com. May 23, 2011. Retrieved June 24, 2020.
- ^ Garner, Stephen (August 15, 2024). "Deckers Sells Sanuk to Canadian Active Company Lolë Brands". Footwear News. Retrieved September 6, 2024.
- ^ "Deckers Acquires Hoka One One Shoes". Runner's World. April 2, 2013. Retrieved June 24, 2020.
- ^ a b Ahssen, Sarah (June 1, 2015). "Deckers strengthens brand portfolio with Koolaburra". Fashion Network. Retrieved June 24, 2020.
- ^ Marks, Kathy (February 17, 2004). "There's no business like shoe business". The Independent. London, United Kingdom. Archived from the original on December 5, 2008. Retrieved November 17, 2009.
- ^ "Will Triple-Digit Earnings Growth Push Deckers Outdoor into Higher Ground? - Investors.com". Archived from the original on October 18, 2014. Retrieved October 10, 2014.
- ^ "Teva History". Deckers. Archived from the original on March 12, 2011.
- ^ "Inventor of the Week: Archive". MIT. August 1998. Archived from the original on March 2, 2003. Retrieved March 28, 2007.
- ^ "Deckers Earnings: Hoka Sales Up 90% in Third Quarter, Ugg Slides Slightly".
- ^ http://www.koolaburra.com/faq.html#A26 [bare URL]
External links
[edit]- Official website
- Business data for Deckers Outdoor:
