The Ledger
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Hoka reached $1.4B in annual sales, up from $153M in 2018
“This past year, Hoka did 1.4 billion dollars in sales. That is up from three million dollars in sales, as I mentioned, just 10 years ago, and a hundred fifty three million dollars in sales just five years ago.”
Deckers acquired Hoka for a reported $1M in 2012
“In 2012, the oversized sneaker brand Hoka was doing around three million dollars in revenue, and it was bought by Deckers, the owner of Ugg and Teva and a few other brands, and Deckers bought Hoka for a reported million dollars.”
Hoka failed a Dick's Sporting Goods test in 2014, returning in 2020
“In 2014, Hoka tested a small number of stores and they didn't see enough consumer demand, so they pulled the shoes from Dick's shelves very quickly. They'd only returned two Dick's in 2020 when the brand was multiples of its 20 14 size and they had enough dema…”
Hoka became triathletes' most-worn shoe brand starting in 2017
“After ultra marathoners came triathletes which Hoka became the most worn shoe ahead of Asics, Nike, and Saucony beginning in 2017.”
Hoka grew from under 10% to nearly 40% of Deckers' total revenue
“In 2018, when Hoka did a hundred fifty three million in revenue, the brand was responsible for less than 10% of Decker's revenues. Now, it accounts for nearly 40%.”
American elites increasingly view ugly footwear like Yeezys as high fashion
“Where it feels like the uglier the apparel or the footwear, the more fashionable it's considered by America's elite. You don't have to look any further than Yeezy foam runners, which are possibly the world's ugliest shoes.”