Deckers aims to sell Sanuk brand
California-based Deckers Brands recently announced that it plans to part from its Sanuk comfort shoe brand in order to focus on allocating resources that are considered to best align with the company’s long-term objectives.
Commenting on this decision, Deckers president and chief executive Dave Powers stated: “I’m proud of how the teams have managed this brand over the last few years from a marketplace management standpoint, and the product right now is very, very strong. But what we realised is that the journey to scale that brand so that it’s meaningful in our portfolio is just too long.”
According to Mr Powers, the decision was both emotionally and financially tough, but added that the brand deserves ‘a good home’ and someone who can ‘make it a priority’ rather than it being lower down the list in Deckers’ portfolio. “It’s not that Sanuk was holding us back from building and launching a new brand,” the CEO is reported to have said. “We look at this decision separately as just fine-tuning our model. We have the distribution channels. We have the DTC network. We have a lot of leverage in the marketplace and some really innovative, exciting products. It will be a long haul, but we think this is a space that is emerging and that we want to make sure that we have some skin in the sneaker game going forward beyond Hoka.”
This article was originally published on page 3 of the November 2023 issue of SATRA Bulletin.