The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
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Powers: Nike is Hoka's primary internal target for market share capture
“Well, for Hoka, it's, you know, it's Nike. That's the one that really drives us internally, is, hey, you know, we think that we could take a chunk of their business.”
Powers: Hoka will never market directly to mass-market casual consumers
“We're not going to market mass market to the casual consumer out there. That's not who we are. We are performance brand through and through.”
Powers: HOKA has the potential to reach $5 billion in revenue
“Maybe not all from Nike, but it has the potential to be five billion in revenue for sure.”
Powers: Hoka customers buy two to three pairs per year
“When we used to sell UGG Once every two or three years, a 160 dollar price point. Now we're selling Hoka two to three times a year at a 160 dollars set price point.”
Dave Powers compares Hoka's customer brand fandom to Patagonia
“It's, I always liken this brand to Patagonia, you know, and I, maybe I'm personalizing that, but I always just was obsessed with Patagonia and wanted more of their product and their brand. I think people feel that way about Hoka.”
Hoka grew from a $1.1M acquisition in 2012 to $1.4B revenue in 2023
“Hoka Shoes was bought for 1.1 million in 2012. Now it's doing 1.4 billion dollars in revenue in 2023.”
Dave Powers: Hoka and On hold small global market shares with huge upside
“Between the two of us, our market shares are still relatively small globally. There's so, so much potential for both brands to do incredibly well.”
Powers: Hoka had to pull back inventory and close accounts early on
“We actually went through a period early on where we had a lot of markdown inventory in the channel. We were selling off price to people, and it was because we were trying to chase a growth number. So fortunately, we recognized that early on, and we pulled back…”
Dave Powers: Hoka succeeded in US by dominating run specialty first
“That was our success in the U S is really kill it in the run specialty channel and the core outdoor channel. And then you can move out beyond that.”
Powers: Hoka delivers Deckers' highest initial margin, followed by UGG
“Initial margin is Hoka. But UGG is a close second. I mean, they're both very, very healthy in the industry.”
Dave Powers: Running shoe brand loyalty is shifting as consumers try disruptors
“Well, traditionally, they're very loyal, you know, and it's hard to get a consumer that was running in ASICs for 10 years or Saucony for 10 years to switch brands. I think that's changing dramatically. I think people are open to trying different brands now. An…”
Powers: Most late-stage Ironman finishers wear Hoka shoes
“From 11 to midnight at the Ironman championships where the last finishers are coming in, you know, some of them have disabilities, some of them are 70 plus and older, and most of those people are wearing Hoka.”
Powers: Deckers is developing a loyalty and auto-delivery program for Hoka
“And we need the loyalty program that you can get automatic deliveries or the next big launch earlier or special treatment as a loyalty member. And that's something we're working on.”
Powers: Hoka rejects more wholesale retail accounts than it accepts
“We say no to more, you know, more accounts than we say yes to.”
Dave Powers: 2023 UTMB and Ironman Champions Both Competed in Hoka
“The winner of the ultra marathon, the UTMB at the ultra marathon, but the ultra trail Montblanc and Chamonix, you know, the winner of that race was wearing Hoka. And two weeks later, the winner of the Ironman championships in Nice was wearing Hoka.”
Dave Powers: Deckers' best decision was reallocating capital to Hoka and Ugg in 2016
“You know, what myself and the finance leaders at the time did in 16 and 17 would say, actually, no, you don't all need that money. These two things need that money. And we're going to reset. That was the biggest reallocation success that we had.”