Susan Itzkowitz, Dave Powers and Tacey Powers were inducted into the FN Hall of Fame at the 2024 FNAAs on Wednesday night.

The three exceptional leaders took the stage to reflect on their storied careers and thank those who helped them on their path to hall of fame status in the footwear industry.

In 2004, Susan Itzkowitz partnered with Marc Fisher to launch a new shoe venture, which has grown into a powerful player in the fashion footwear business, encompassing 14 brands, including licensed collections for Calvin Klein, Guess, Tommy Hilfiger, Hunter and others. And as a longtime board member for Two Ten Footwear Foundation, she has spearheaded efforts to increase representation and opportunities for women in the industry.  

“I overcame barriers I hadn’t even known existed, such as becoming one of the first women to hold senior roles in several male dominated companies,” Itzkowitz said. “It wasn’t always easy, and honestly, some of the toughest challenges came from other women. But their ruthless approach to leadership taught me a powerful lesson: women in business wield extraordinary strength when they lead with a balance of power and kindness, and embrace collaboration.”

Dave Powers made news this year as he announced he’d step down as chief executive officer of Deckers Brands in August, capping off an incredible 12-year run with the company. He joined Deckers as president of direct-to-consumer in August 2012, rising through the ranks to become CEO in 2016. Under his tenure, Deckers experienced explosive growth, led by its Ugg and Hoka businesses. For its last fiscal year, the company scored $4.3 billion in sales.

“It’s a tough world these days, and we’re grateful to have this opportunity to be with you all tonight and celebrate all of you,” Dave Powers noted. “I also want you to know it’s not lost on me how surreal this is for me. I mean, I grew up in a small, blue-collar town in New Hampshire, which actually at one point, was known for its shoe industry… But, I will leave you with a few words that is a motto that we use a lot at Deckers which is, ‘Stay hungry, stay humble and be kind.’ And that formula works every day.”

And for Tacey Powers, she joined Nordstrom in 1981, starting on the sales floor and working her way up to the executive level, where she now serves as executive vice president and general merchandise manager for shoes. In addition to overseeing the retailer’s stores in the U.S., she also has been committed to mentorship and giving back to the industry as a board member for Two Ten Footwear Foundation and Footwear Retailers and Distributors of America.

“To the Nordstrom family: I am grateful to have been part of your organization for over 40 years,” Tacey Powers said. And to my Nordstrom team: I work with a group of amazing people who bring joy and their special talent to work every day. I believe we have some of the best merchants in the business… I feel truly best blessed to sit in one of the greatest seats in the industry, and I will never take that for granted.”

For 38 years, the annual FN Achievement Awards — often called the “Shoe Oscars” — have celebrated the style stars, best brand stories, ardent philanthropists, emerging talents and industry veterans. The 2024 event is supported by sponsors Listrak, Marc Fisher, Nordstrom and Vibram.

On Dec. 4, Dave Powers will be inducted into the Hall of Fame at the 38th annual FN Achievement Awards. Below is an article from the magazine’s Dec. 2 print issue about his career and what he’s up to now that he’s retired.

After taking Deckers Brands to new heights as president and chief executive officer, Dave Powers announced earlier this year that he would step down from his post in August.

It was an unexpected move given the success of Deckers’ red-hot portfolio of brands, especially Hoka and Ugg, both of which continue to deliver stellar earnings. In fact, in Powers’ last quarter as CEO, for fiscal Q1, Deckers reported that net sales rose 21.1 percent to $825.3 million, compared with $675.8 million the same time last year. (The following quarter brought another 20.1 percent increase.)

Powers’ tenure at Deckers began in August 2012, when he joined as president of direct-to-consumer after previously holding leadership roles at Converse, Timberland and Gap.

In January 2014, Powers was appointed president of omnichannel at Deckers, later becoming the company’s president in March 2015.

He took over as CEO in June 2016 at a time when revenue growth had lagged at the company’s hero brand, Ugg. And soon he faced one of the biggest challenges of his career: a battle with an activist investor pressuring Deckers to pursue a sale. Stockholders eventually rebuffed the effort and have since been rewarded by years of positive gains fueled by both Ugg and Hoka.

Leaders within Deckers lauded Powers and the way he’s guided the organization. “Dave is an incredible leader,” said Anne Spangenberg, president of the company’s Fashion Lifestyle Group. “He lives and models our values to our team, in particular ‘Do Good and Do Great’ — his focus that respecting each other and our communities drives a sustainable business.”

Stefano Caroti, the current chief executive officer of Deckers, said that Powers’ Hall of Fame honors are a testament to his ethical leadership. “Dave’s guidance, trust and encouragement have created a sense of community, purpose and belonging that serve as an example for myself and our executive leadership team” he said.

In an interview with FN last month, Powers explained that part of the reason he stepped down now as CEO was to “get out of Stefano’s way.” Caroti, who was the company’s chief commercial officer, took over from Powers upon his retirement earlier this year.

“I wanted to give Stefano the opportunity [to lead Deckers], because he’s the right guy for the job right now,” Powers said. “He’s going to take this company to the next level. Way beyond where I was able to. So, the timing felt great for me, personally. I think it felt great for the business. And it’s also creating opportunities for Stefano and others in the team.”

Here, Powers reflects on the many ups and downs of his footwear journey and important lessons learned along the way.

What has been your proudest moment in your career?

Dave Powers: “Certainly, the success coming out of the activist battle in 2017. I mean, we almost lost the company there, right? But we were able to protect our brands. If we had lost that activist battle, then Deckers wouldn’t be Deckers anymore. So winning that battle, that whole year coming out of it was super rewarding for the employees and myself. And then, when you look at how we were able to turn the business around from that point, when we were stagnant and had negative growth, and turning that around to a 20-plus operating margin and close to $5 billion market cap, I still can’t believe it, to be honest with you. So certainly, from a personal perspective, seeing what employees did to rally around that and make it happen, you couldn’t ask for more.”

What have been some of the biggest hurdles for you over the years?

DP: “One is adversity in business and going through down times in business. It forces you to really dig deep. But the best part about that is you come out with a better understanding of what success is going to take, and you just continue to apply that forward. Looking back, I’ve been through challenges at Gap, when that business started to downturn and we had to refigure the merchandizing and the product. And at Timberland, with the yellow boot and trying to offset the decline of that in some cases. And then certainly at Deckers with the Ugg boot and the trend challenges — and with the activist investor situation. You know, Hoka wouldn’t be here today if we had lost that activist battle.”

What has been some of the best advice you’ve received and then passed on?

DP: “One of the things that I learned from my dad was that it’s always about the kids. Every decision you make should be what’s best for the kids. And so, I’ve taken that into the business world in the form of what’s best for our employees, what’s best for our customers. Other than that, stay humble, stay hungry, keep your head down, do good work. But the best advice is really to focus on what’s best for the people in your company who do the hard work, and then the rest will figure itself out.”

What’s next for you in post-retirement?

DP: “Right now, I am enjoying more free time with my family. I tell you what, it’s been amazing to have the time to be able to reflect on how hard we all work. This business is nonstop. It’s never easy, but you know, if you do it in a way that’s true to your integrity, and you find success, it can be the most rewarding thing in your life.”

For 38 years, the annual FN Achievement Awards — often called the “Shoe Oscars” — have celebrated the style stars, best brand stories, ardent philanthropists, emerging talents and industry veterans. The 2024 event is supported by sponsors Listrak, Marc Fisher, Nordstrom and Vibram.

As Hoka continues its winning streak in the first quarter of fiscal 2025, Deckers Brands executives are laser focused on building its wholesale business.

On the company’s first quarter earnings call on Thursday, Deckers Brands’ incoming president and chief executive officer Stefano Caroti dubbed fiscal 2025 “a year of wholesale growth” for Hoka, adding that the star running brand is seeing an expansion of both shelf space and new doors within the segment this year.

Caroti also noted on Thursday that some of the retailers expanding Hoka distribution are Dick’s Sporting Goods, Foot Locker, Intersport in Europe, Top Sport in China, Sport Chek in Canada and JD Sports in the U.S., Europe and Asia.

Results of this emphasis on growth were already seen in the first quarter, with Hoka bringing in $333 million in wholesale sales in the period, a 27.7 percent increase from the same time last year. Overall net sales at Hoka in the period were $545.2 million, up 29.7 percent from $420.5 million in Q1 2024.

Outgoing president and CEO Dave Powers added on Thursday’s call that Q1’s wholesale growth was mostly due to the brand refilling inventory in the channel and continuing to see high levels of full price sell-through.

“Part of our approach to building Hoka brand awareness is through expanded points of distribution with key partners,” Powers said. “During the quarter, we added strategic doors with select partners around the world, which contributed to Hoka wholesale growth in the quarter. We also continued adding shelf space and gaining market share.”

Overall, Powers said that Hoka’s performance in the quarter was driven by the brand’s “compelling product assortment,” including new launches, which experienced strong demand across the brand’s global marketplace.

“More specifically, top styles like the Clifton and Bondi continued to experience healthy growth,” Powers said. “Emerging franchises like the Mach, Transport and Kawana drove outsized gains and new styles like the Skyward X, Cielo X1 and Skyflow brought incremental volume and attention to the brand through segmentation and greater innovation.”

The Clifton and Bondi models remain the leading franchises for Hoka, Powers added. “The brand continues to build demand for these popular franchises through distribution segmentation as the introduction of model updates increasingly allow for differentiation of key partners to satisfy incremental demand and limited-edition lifestyle treatments and collaborations that regularly sell out offering unique versions of these hero styles,” he said.

This comes as Deckers Brands reported net sales in the first quarter of 2025 increased 21.1 percent to $825.3 million compared to $675.8 million the same time last year. Net income in the period was $115.6 million, up from $63.6 million in the same quarter last year.

Looking ahead, Deckers is still expecting net sales for the full fiscal year 2025 to increase approximately 10 percent to $4.7 billion, with diluted earnings per share expected to be in the range of $29.75 to $30.65.

Shares for Deckers Brands were up over 8 percent in after-hours trading on Thursday as the company continues to see robust sales from Hoka and Ugg.

The Goleta, Calif.-based footwear company reported net sales in the first quarter of 2025 increased 21.1 percent to $825.3 million compared to $675.8 million the same time last year. Net income in the period was $115.6 million, up from $63.6 million in the same quarter last year.

Deckers also saw a bump in its direct-to-consumer channel, reporting an increase of 24 percent to $310.6 million compared to $250.4 million in Q1 of fiscal 2024. Wholesale net sales for Q1 were up 21 percent to $514.8 million compared to $425.4 million the same time last year.

By brand, Hoka saw the largest increase in sales in the first quarter, reporting a 29.7 percent rise to $545.2 million compared to $420.5 million in Q1 2024. Ugg also continued its winning streak in the period, posting net sales of $223.0 million, a 14 percent increase from $195.5 million last year.

Teva and Sanuk did not fare as well this quarter. In Q1, Teva saw a 4.3 percent decline in net sales $46.3 million compared to $48.4 million the same time last year. Sanuk reported a 28.4 percent drop in net sales to $6.9 million in the period compared to $9.6 million last year.

And interestingly, the company’s other brands division, primarily composed of Koolaburra, reported net sales increased 123.5 percent to $4.0 million compared to $1.8 million the same time last year.

Outgoing president and chief executive officer Dave Powers passed the baton to his successor in a statement on Thursday. “As this is my last quarter to report as CEO, I am pleased to share these strong results to kick-off fiscal year 2025,” Powers said. “Hoka and Ugg continue to drive robust full-price demand in the global marketplace by delivering compelling product that consumers love. Deckers has an exciting future ahead as Stefano transitions into his new role as CEO next week.”

At the same time, incoming president and CEO Stefano Caroti added his enthusiasm for taking over the reins at the company, stating that fiscal year 2025 is “off to a great start.”

“I’m excited by the opportunity to now lead Deckers and its iconic brands, with the support of our talented teams that remain focused on the long-term opportunities ahead for this great company,” Caroti said.

In its earnings release on Thursday, Deckers noted that it has entered into an agreement to divest the Sanuk brand, which is expected to close in August 2024. No other details were provided at the time of this story, but the notice follows the company’s announcement in October that it was seeking to divest the label.

In October, Powers told analysts that the decision to divest Sanuk was tough both “emotionally and financially,” but that the brand deserves “a good home” and someone who can “make it a priority” instead of being the fourth and fifth brand in Deckers portfolio. “I think it’s the best thing for the company and the brand to do this,” the exec said at the time.

Looking ahead, Deckers is still expecting net sales for the full fiscal year 2025 to increase approximately 10 percent to $4.7 billion, with diluted earnings per share expected to be in the range of $29.75 to $30.65.

Hoka has landed in Paris just ahead of this summer’s Olympic Games.

Located at 35 Boulevard des Capucines in the buzzy Opéra neighborhood, the 1,500-sq.-ft. store marks Hoka’s first shop in France and showcases the brand’s full line up of footwear, apparel and accessories.

According to the Deckers-owned running brand, the new store has been designed with natural design elements and features interactive displays that tap into Hoka’s ethos of “joyful movement and commitment to movement and motion for all.”

Guido Geilenkirchen, vice president and general manager of Hoka EMEA, said in a statement that the opening pays tribute to the French runners that have supported the brand since its launch.

“We’re proud to welcome them to the new Hoka store, where they’ll find their favorite products as well as our latest innovations,” Geilenkirchen said. “This opening also fits in with a commitment to creating a long-term relationship with Parisians and urban runners. Now more than ever, Paris is the 2024 capital of sports and we’re thrilled to be a part of it.”

Deckers chief executive officer Dave Powers also spoke about the Paris store opening briefly on the company’s fourth quarter earnings call last week.

“Though only open for a short time, we have been very encouraged by the consumer feedback, conversion and broad product adoption,” Powers said. “We are excited for Hoka to have a footing in this important market, particularly as the location expects to see high traffic during the upcoming summer Olympics.”

The opening comes as the brand focuses on international expansion after debuting its first London flagship in October. At the time of the opening, the London store was the first location in Hoka’s fleet to unveil its new design concept.

“Aligned with our strategy to solidify Hoka as a global player, international regions are driving particularly strong gains in awareness, increasing more than 80 percent versus the prior year,” Powers told analysts on last week’s call.

“Global consumers who identify as runners remain our highest awareness group and continue to see strong increases, but we are also seeing really powerful growth among consumers who are more general fitness oriented,” the soon-to-be retired CEO added. “While Hoka is increasing its awareness across all age groups, growth is strongest among 18- to 34-year-olds globally with brand awareness among this influential age group nearly doubling year-over-year.”

Deckers wrapped up fiscal 2024 on a high note last week, with net sales increasing 18.2 percent to a record $4.288 billion for the year. At Hoka, the company reported that the brand’s net sales in fiscal 2024 rose 27.9 percent to $1.807 billion, up from $1.413 billion in 2023.

As for fiscal 2025, Deckers is optimistic that Hoka will remain the main driver of growth across the company. The company said that it expects Hoka’s net sales to increase 20 percent over fiscal 2024 next year through consumer acquisition and retention gains in its direct-to-consumer channel, expanding strategically through key partners while maintaining disciplined marketplace management and maintaining a dedicated focus on growing awareness and market share internationally.

The topic of innovation is top of mind in the performance running shoe market – especially if you ask Nike, which has been widely criticized for having a lackluster product pipeline by analysts and the Street in recent months.

But for Deckers chief executive officer Dave Powers, this isn’t an issue for its star running brand Hoka. Indeed, on the product front, Hoka is driving growth and consumer acquisition through innovative updates and new introductions across a diverse assortment of footwear.

Powers told analysts on the company’s fourth quarter earnings call on Thursday that Hoka’s fiscal year 2024 performance was primarily driven by road running favorites like the Clifton and Bondi franchises, stability staples like the Arahi and Gaviota, both of which received updates during the year, trail conquers like the Speedgoat, Challenger and Stinson franchises and everyday performance lifestyle shoes like the Transport, Solimar and the Kawana.

“We expect these styles will continue to contribute to the growth of Hoka moving forward but are also really excited about the brand’s ongoing efforts to constantly infuse new innovations into the product assortment,” Powers said.

“Innovation is the Hoka brand’s top priority, continuing to develop groundbreaking products that energize consumers around the world,” the soon-to-be retired CEO continued. “We are fortunate to have a phenomenal roster of Hoka athletes, who we will continue partnering with to drive greater athlete enhanced innovations into our most pinnacle products while also further developing the assortment to segment and differentiate Hoka distribution as we continue to scale. The recently launched Skyward X is the perfect example of new product innovation that benefits our segmentation efforts. This all-new style was developed as our first carbon-plated shoe that is designed for everyday runs with maximum cushion.”

Looking ahead, Powers noted that the company is “methodically” widening Hoka’s distribution over the next year. “We intend to selectively expand our distribution with key partners while carefully monitoring the productivity of those doors,” he said.

This comes as Deckers wrapped up fiscal 2024 on a high note, with net sales increasing 18.2 percent to a record $4.288 billion for the year. At Hoka, the company reported that the brand’s net sales in fiscal 2024 rose 27.9 percent to $1.807 billion, up from $1.413 billion in 2023.

As for fiscal 2025, Deckers is optimistic that Hoka will remain the main driver of growth across the company. The company said that it expects Hoka’s net sales to increase 20 percent over fiscal 2024 next year through consumer acquisition and retention gains in its direct-to-consumer channel, expanding strategically through key partners while maintaining disciplined marketplace management and maintaining a dedicated focus on growing awareness and market share internationally.

Company-wide, Deckers is expecting net sales for fiscal 2025 to increase approximately 10 percent to $4.7 billion, with diluted earnings per share expected to be in the range of $29.50 to $30.00.

Shares for Deckers Brands were up over 8 percent in after-hours trading on Thursday as the footwear company wrapped up fiscal 2024 on a high note.

The Goleta, Calif.-based footwear company reported net sales in the fourth quarter of 2024 increased 21.2 percent to $959.8 million compared to $791.6 million the same time last year. Net income in the period was $127.5 million, up from $91.8 million in the same quarter last year.

Deckers also saw a bump in its direct-to-consumer channel, reporting an increase of 21 percent to $415.2 million compared to $343.1 million in Q4 of fiscal 2023. Wholesale net sales for Q4 were up 21.4 percent to $544.6 million compared to $448.4 million the same time last year.

By brand, Hoka saw the largest increase in sales in the fourth quarter, reporting a 34 percent rise to $533.0 million compared to $397.7 million in Q4 2023. Ugg also continued its winning streak in the period, posting net sales of $361.3 million, a 14.9 percent increase from $314.3 million last year.

Teva and Sanuk, the latter of which the company announced plans to divest late last year, did not fare as well this quarter. In Q4, Teva saw a 15.6 percent decline in net sales to $53.0 million compared to $62.8 million the same time last year. Sanuk reported a 39.1 percent drop in net sales to $6.5 million in the period compared to $10.7 million last year. Other brands division, primarily composed of Koolaburra, reported net sales were approximately flat at $6.0 million in Q4.

As far as the full fiscal year 2024, Deckers reported net sales increased 18.2 percent to $4.288 billion compared to $3.627 billion in fiscal 2023. Net income for the year was $759.6 million, up from $516.8 million last year.

By channel, Deckers’ direct-to-consumer saw net sales increase 26.5 percent in fiscal 2024 to $1.855 billion compared to $1.467 billion the prior year. Wholesale net sales for the year were up 12.6 percent to $2.432 billion compared to $2.161 billion in 2023.

Hoka came out on top again for the year, with net sales in fiscal 2024 of $1.807 billion, a 27.9 percent increase from $1.413 billion in 2023. Ugg also saw its net sales for the year increase by 16.1 percent to $2.239 billion compared to $1.929 billion the prior year. Also on the positive side for the year, Deckers’ other brands division, primarily composed of Koolaburra, saw net sales up 5.9 percent to $67.9 million compared to $64.1 million.

Teva wrapped up the year down 18.9 percent to $148.5 million compared to $183.1 million, while Sanuk reported a 33.0 drop in net sales in 2024 to $25.4 million compared to $38.0 million last year.

Deckers president and chief executive officer Dave Powers said in a statement on Thursday that this year’s performance reflects a “continued dedication” to maintain “exceptional levels” of profitability as the company’s brands scale. “Hoka and Ugg remain two of the most admired and well-positioned brands in the marketplace, each with a robust innovation product pipeline designed to win with global consumers,” Powers noted. “Looking forward, our talented teams are highly motivated to continue driving towards the long-term opportunities of these iconic brands.”

As far as fiscal 2025, Deckers is expecting net sales for the year to increase approximately 10 percent to $4.7 billion, with diluted earnings per share expected to be in the range of $29.50 to $30.00.

Deckers Brands has promoted Marco Ellerker to president of global marketplace, a newly created post. The move is effective Aug. 1.

In his new role, Ellerker will oversee the omnichannel teams for all brands globally, according to the Goleta, Calif.-based footwear company. He will also become a member of the executive leadership team, reporting directly to Stefano Caroti, incoming chief executive officer and president of Deckers Brands.

Ellerker has served in various operational roles at Deckers since 2017, most recently as senior vice president and general manager of EMEA, Japan and distributors in Asia Pacific. He has also held the roles of vice president and general manager of Deckers EMEA and vice president of Ugg EMEA.

Ellerker joined Deckers from Pentland Brands, where he spent nearly 14 years in various roles including global president of the lifestyle division, global managing director of Ellesse, global managing director of Brasher Boot Company and regional vice president of Lacoste footwear.

Prior to Pentland, Ellerker spent four years at Reebok, and held other roles at Initial Textile Services and American Express.

“Marco has played a key role in the incredible success our brands have achieved on a global scale,” Dave Powers, the current president and CEO of Deckers Brands, said in a statement. “We are excited to have him in this role, and we are confident that he will build on our successful omni-channel strategy, together with our agile marketplace team, to continue to scale the success of our portfolio.”

Ellerker said he is eager to take on this new role as the company further develops its brands.

“Over the last several years, we have worked diligently to establish a disciplined, consumer-centric approach to marketplace management that has resulted in significant growth across our brands,” Ellerker said. “I look forward to working with the whole Deckers team to continue executing on our strategy and capturing the many global opportunities ahead.”

This news comes after Deckers Brands reported in February that net sales in the third quarter of 2024 increased 16 percent to $1.560 billion compared to $1.346 billion the same time last year.

By brand, Hoka saw the largest increase in sales in the third quarter, reporting a 21.9 percent rise to $429.3 million compared to $352.1 million in Q3 2023. Ugg also continued its winning streak in the period, posting net sales of $1.072 billion, a 15.2 percent increase from $930.4 million last year.

In March, Deckers relaunched its Ahnu label. As for how Ahnu fits into the Deckers portfolio at a time when the company is winning in the shoe market, Powers told FN at the time that he sees it as the possible future of the company. “I’ve always told the teams here that we have two incredible growth brands right now, and at some point, we may need another one,” the CEO said. 

Since last fall, Deckers Brands has teased a new “super sneaker brand.” Now, the scope of the project is in full view.

Called Ahnu, many market watchers following the Goleta, Calif.-based footwear company for a while might recognize the name. In fact, in 2009, Deckers acquired the Ahnu label for an undisclosed sum and ran the then outdoor focused shoe brand until the company shuttered its operations in 2018.

But Tuesday’s announcement is not considered a relaunch of the Anhu of the past. “We originally had no intention of using the Ahnu name for this project, but we were having challenges coming up with a name that we could use on a global level when it came to securing trademark rights and all of those things,” Deckers Brands president and chief executive officer Dave Powers told FN in an exclusive interview ahead of the launch. “So we landed on Ahnu because we already had the IP (intellectual property) and we have all the sites globally, so it just made sense. Choosing this name saved us a lot of headaches of setting up sites globally, and integrating with our systems and everything. It made it super easy for us.”

And while the new launch shares the same name as its predecessor, the two are nothing alike. When Powers first teased the idea of this new brand in October during the company’s second-quarter earnings call, he told analysts that Deckers would be investing in creating a new brand that he described as a “super sneaker brand across various categories that combine the best of Hoka and Ugg along with all the learnings the company has from those two brands.”

The final result is what Powers calls a “true sneaker brand” that incorporates “timeless and modern style with innovative materials” meant for all-day wear and comfort.  

Ahnu’s debut shoe is called the Sequence 1 sneaker. Inspired by a running shoe but meant to be worn throughout the day for most occasions, the Sequence 1 is crafted with a high rebound, durable PEBA foam and a responsive carbon-fiber plate for all-day comfort.

The new Sequence 1 sneaker is now available in low, mid, and high variations, each priced at $225, $240, and $255, respectively. According to Powers, the debut shoe is available in-store at two NYC retailers, ONS and Westerlind. Online purchases on Ahnu’s e-commerce site will start on March 14.

This launch comes one month after Deckers Brands reported its largest quarter in history in February, driven by its star Hoka and Ugg brands. The Goleta, Calif.-based footwear company reported that net sales in the third quarter of 2024 increased 16 percent to $1.560 billion compared to $1.346 billion the same time last year.

By brand, Hoka saw the largest increase in sales in the third quarter, reporting a 21.9 percent rise to $429.3 million compared to $352.1 million in Q3 2023. Ugg also continued its winning streak in the period, posting net sales of $1.072 billion, a 15.2 percent increase from $930.4 million last year.

As for how Ahnu fits into the Deckers portfolio at a time when the company is winning in the shoe market, Powers sees it as the possible future of the company. “I’ve always told the teams here that we have two incredible growth brands right now, and at some point, we may need another one,” the CEO said. “I think it’s always important to have green shoots in your company that could be the next big brand, or that you can learn a lot from and apply to other businesses. But the idea for me is we’re going to start planting seeds now for future growth drivers.”

Looking ahead, Powers is taking a slow and steady approach to building the brand. “We want to use this first sneaker to gain recognition for the brand, get the brand out there, versus layering in a number of styles from the start and not getting traction on at least one of them,” Powers said.

But that doesn’t mean more styles are not in the works. The CEO added that that the Ahnu team is looking into a court style sneaker, a skate sneaker, and even a basketball sneaker. “We are exploring many different categories and will develop our iteration, our interpretation of what defines that segment, while also incorporating our own materials and technologies,” Powers added.

Deckers Brands president and chief executive officer Dave Powers, who just announced his plans to retire, gave more details on the company’s new “super sneaker brand” during its third-quarter conference call with analysts on Thursday.

Powers, who teased the idea of this new brand in October during the company’s second-quarter call, told analysts on Thursday to “stay tuned.”

“You’ll hear about the soft launch in the next few weeks, and then as we head into March and April, [you’ll hear more] in a more robust way,” Powers said.

The response was given after an analyst probed Powers about the innovations coming out of Deckers X Labs. “We established this Deckers Lab innovation engine a few years ago with the help of Jean-Luc [Diard], who is one of the co-founders of Hoka, and it has been quietly building as a force in our pipeline for all of our brands,” Powers said. “So, some of the innovation you’re seeing in Ugg and Hoka, and we’ll soon see some of that in Teva as well, has come from that.”

The CEO added that while working in the lab, the team has discovered its opportunity for “a new kind” of sneaker brand. “We would put this under the category of super sneaker brand,” Powers said. “It’s pretty exciting. It’s more sophisticated in styling, it’s made for really all-day wear, but it comes with a lot of the technologies that you would find in a performance running brand.”

Some of the features that could end up in this new “super sneaker brand” include carbon plates, different foams, more modern materials and cleaner lines, according to Powers. He also noted that the line will have “a bit of an elevated price point,” situated at above $200. “We’re excited to launch this into the market,” Powers added. “I’ll let you know the name as soon as what I’m allowed to. But stay tuned.”

This update comes after the CEO told analysts in October that Deckers will be investing in creating a new brand that he described as a “super sneaker brand across various categories that combine the best of Hoka and Ugg along with all the learnings the company has from those two brands.”

“We have a lot of leverage in the marketplace and some really innovative, exciting products,” Powers said at the time. “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.”

Deckers Brand reported its largest quarter in history on Thursday, driven by its star Hoka and Ugg brands. The Goleta, Calif.-based footwear company reported net sales in the third quarter of 2024 increased 16 percent to $1.560 billion compared to $1.346 billion the same time last year.

By brand, Hoka saw the largest increase in sales in the third quarter, reporting a 21.9 percent rise to $429.3 million compared to $352.1 million in Q3 2023. Ugg also continued its winning streak in the period, posting net sales of $1.072 billion, a 15.2 percent increase from $930.4 million last year.