Deckers to acquire outdoor footwear brand
20/05/2011
In announcing the definitive agreement, Deckers president, chief executive and chairman, Angel Martinez, said: "Sanuk is an ideal addition to the Deckers family of brands. It's a profitable, well-run business with a corporate culture similar to ours, and provides substantial growth opportunities, particularly within the action sports market where it has a large and loyal customer base of active outdoor enthusiasts. Its authentic product collections complement our existing portfolio with minimal overlap, and it's a brand that we believe has true global lifestyle potential."
Sanuk (which means "fun" in Thai) was founded in 1997 by entrepreneur Jeff Kelley, whose first product was a sandal made of carpet. Sanuk is currently available in more than 1,700 retailers in 40 countries and at Sanuk.com.
Mr Kelley commented: "We are excited to join forces with a company of Deckers' calibre and culture. Deckers' specialty and focus is and has always been footwear, and this expertise will help globalise and accelerate Sanuk's growth. The management team at Deckers has a great track record of brand building, and we look forward to accessing the experience, operational expertise and global infrastructure they've built for their family of brands."
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