Hoka up almost 60% in fiscal 2023
US footwear group Deckers Brands has reported that its net sales rose by 15.1% for the 12 months ended March 31, 2023, achieving $3.6 billion.
Full-year domestic net sales increased by 13.1% versus the year previous, reaching $2.5 billion, with international net sales up 19.7% to $1.2 billion year on year (YOY).
Both wholesale and direct-to-consumer net sales similarly saw double-digit growth, rising by 11.6% and 20.8% YOY, respectively.
At brand level, net sales for running shoe company Hoka One One (Hoka) experienced a 58.5% increase compared to fiscal 2022, bringing in $1.4 billion for the year. Sports sandal brand Teva, which announced a collaboration with French fashion house Chloé in May, likewise rose in double digits. Net sales were up 12.5% YOY to bring in $183.1 million.
Another sandal brand, Sanuk, saw a 11.9% reduction, however, contributing $38 million in net sales.
Meanwhile, sheepskin and casual footwear brands Ugg and Koolaburra by Ugg also declined over the 12 months, despite the re-emergence of Ugg among fashion influencers in recent years.
Ugg’s net sales were down 2.7% YOY to $1.9 billion, whereas Koolaburra contracted 9.6% to $64.1 million.
Deckers Brands president and chief executive, Dave Powers, called fiscal 2023 “an exceptional year” and described his team as “energised” for what lies ahead. “We continue to deliver record results, including the Hoka brand adding more than half a billion dollars of top-line revenue,” he said of his highlights from the fiscal year.
Image: Hoka.
