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.

How do you keep a hot brand hot? That’s no small feat, but footwear industry veteran Robin Green is up to the task.

When Green joined the Deckers Brands-owned Hoka in February as president, she was tasked with expanding the brand’s relationship with consumers and athletes — and accelerating the product innovation pipeline.

“What’s been amazing about this experience so far has been connecting with the Hoka team, the employees within the organization, the leadership across Deckers and seeing how the brand connects with people on such a personal level,” Green told FN in early October. “The stories and emails we get from consumers are inspiring. This brand has really changed some people’s lives.”

The numbers tell the story. For several quarters, Hoka has been steadily increasing its market share in the competitive athletic footwear market. Hoka wrapped up fiscal 2024 earnings in May with net sales of $1.807 billion, a 27.9 percent increase from $1.413 billion in 2023. And in its most recent earnings report in October, momentum continued as the brand reported net sales of $570.9 million for the second quarter of fiscal 2025. That’s up 34.7 percent from $424 million in the year-ago period.

Wall Street is confident Hoka’s winning streak will remain a top driver for Deckers’ overall business.

“There continues to be significant growth avenues within the sporting goods [channel], among better independents — and, carefully, within athletic specialty distribution channels. Further, the international opportunities remain robust,” Williams Trading analyst Sam Poser wrote in a note last month.

Green, who most recently spent 17 years at Nike, understands the challenges that can arise with rapid expansion.

“Sometimes growth can overshadow that important relationship with the consumer and with the community,” she said. “We always want to be a brand that welcomes everybody. So that’s something I want to stay on top of, making sure … we always stay humble.”

Strengthening Wholesale

On the company’s first-quarter earnings call in July, Deckers Brands’ 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 the call 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.

This emphasis on wholesale growth was visible in the second quarter of fiscal 2025, with Hoka bringing in $362 million in sales in the business segment, a 37.7 percent increase from the same time last year.

Green — who had a front-row view of Nike’s wholesale missteps — sees retail partners as the “absolute center” of the business strategy. “We have incredible partners in terms of positioning and authenticating our brand across different channels. [In the future], they will play an important role in terms of how we grow Hoka, both in the U.S. and internationally,” Green said.

Hoka’s core run specialty business is also central to the company’s overall strategy.

“We have established credibility in a really personal way,” Green noted. “Whether it’s through activations at a community level, or how we look to enhance our storytelling and innovation launches going forward, [these retailers] play a critical role in that mix.”

Looking forward, both larger retailers and specialty accounts are equally important to Hoka’s success, Green insisted.

“I wouldn’t say that one is equal or less than the other. It’s just the relationship and engagement models are different. How we activate from a community and in-store standpoint is different between a run specialty account and a Dick’s Sporting Goods, as an example. Both play important roles in terms of allowing us to reach a broader range of consumer and get the product on the feet of people in an authentic way.”

The Global Agenda

In October 2023, Hoka planted its flag in Europe with its first boutique in London’s Covent Garden neighborhood. At the time of the opening, Caroti said in a statement that London is “arguably the most influential athletic lifestyle footwear market in the world” and is a “critically important market” for the brand.

In May, Hoka followed up its London success with a new store in Paris ahead of the Olympic Games, which drove major awareness in both cities, according to Dave Powers, the then-president and CEO of Deckers Brands.

“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 fitness oriented,” the now-retired Powers said in May. “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.”

Expect to see more stores like the ones in London and Paris as Hoka charts its path abroad. Green said that both Europe and Asia will play an important role in this next chapter of growth.

“We see a lot of upsides in these markets. The brand awareness is growing incredibly fast. We’re seeing a lot of exciting adoption on both fronts. So for the next couple years, international is where we’ll be looking to put a lot of focus and energy,” Green said.

One of the biggest lessons learned so far? Don’t be afraid to build out a flagship-size footprint where needed.

“The appetite for the brand is so high that our stores are all beating plan,” Green said. “Initially, we wanted to be strategic and not go too big too soon. But what we’re finding is the consumer interest in adopting the brand is moving so fast that we, in theory, could potentially look at some slightly larger spaces that allow for higher sales velocity, more product in-store and potential category expansion within the stores.”

What’s Next

Turning to the future, Green said there is a lot about Hoka that she hopes stays exactly the same.

“At the same time, we will continue to ‘zig’ when the industry ‘zags’ and do something completely different than people expect from us,” she said.

But one thing is clear: Hoka will continue to be itself.

“You don’t have to be an elite athlete, you don’t have to be a certain body type or fit into a specific mold. It really is a brand where everybody feels welcome to bring their most authentic self — whether you’re a walker or a runner or a hiker,” Green said. “We welcome everybody. And that just opens the door for people to feel like they can try something new.”

Looking ahead, Green is excited for the places Hoka will go. “We have an incredible runway ahead of us. We’re all extremely energized around where the brand is currently positioned, and where the brand is headed,” she said.

Hoka remains in the spotlight as Deckers Brands declares a major milestone for its star running brand.

Stefano Caroti, president and chief executive officer of Deckers Brands, told analysts on the company’s second quarter earnings call on Thursday that Hoka eclipsed $2 billion in revenue over the trailing 12-month period for the very first time.

“With this impressive first half growth, the Hoka brand achieved an exciting milestone,” Caroti said. “I’d like to congratulate our entire global team for their tireless efforts in building the special brand.”

With this significant milestone in hand, the CEO added that Hoka’s ongoing international growth efforts will remain a priority. “We’re globally driven, aiming to diversify and build international markets for a more balanced business, expanding regionally and strategically through various channels,” Caroti noted.

Digging deeper, the executive noted that in the long-term, he’d like to see a 50-50 split in sales between the U.S. and international business segments. “International is between two and three years behind the U.S.,” the CEO noted. “We’ve adopted the same playbook internationally that has been so successful here [in the U.S.]. There’s plenty of upside for us internationally, across all regions from China to Europe.”

Hoka’s international expansion really started to ramp up last year. In October 2023, Hoka planted its flag in Europe with its first boutique in London’s Covent Garden neighborhood. At the time of the opening, Caroti, said in a statement that London is “arguably the most influential athletic lifestyle footwear market in the world” and is a “critically important market” for the brand.

In May, Hoka followed up its London success with a new store in Paris ahead of the summer Olympics, which drove major awareness in both cities.

“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 fitness oriented,” now-retired CEO Dave Powers said in May. “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.”

This comes as the Goleta, Calif.-based Deckers Brands reported net sales in the second quarter of fiscal 2025 increased 20.1 percent to $1.3 billion, compared with $1.1 billion the same time last year. Net income in the period was $242.3 million, up from $178.5 million in the same year-ago quarter.

“Overall, Decker’s first half results demonstrate our team’s execution around the globe,” Caroti added on Thursday’s call. “Our brands are well positioned for the holiday season and on track to achieve an increased outlook for the full fiscal year.”

Looking ahead, Deckers raised its guidance for the year. The company now expects net sales for the full fiscal year 2025 to increase 12 percent to $4.8 billion. This is up from its previous guidance, which predicted sales for the year to rise 10 percent to $4.7 billion.

Deckers’ star brands Hoka and Ugg continued to lead the way for the company in the second quarter.

The Goleta, Calif.-based footwear company reported net sales in its Q2 of fiscal 2025 increased 20.1 percent to $1.3 billion, compared with $1.1 billion the same time last year. Net income in the period was $242.3 million, up from $178.5 million in the same year-ago quarter.

Shares for the company rose nearly 10 percent in after-hours trading on Thursday.

Deckers also saw a bump in its direct-to-consumer channel, reporting a 19.9 percent increase to $397.7 million, compared with $331.7 million in Q2 of fiscal 2024. Wholesale net sales for Q2 were up 20.2 percent to $913.7 million, compared with $760.2 million the same time last year.

By brand, Hoka saw the largest increase in sales in the second quarter, reporting a 34.7 percent rise to $570.9 million, up from $424 million in Q2 2024. Ugg also continued its winning streak in the period, posting net sales of $689.9 million, a 13 percent increase from $610.5 million last year.

After several quarters of declining sales, Teva returned to growth in the second quarter. Deckers said that its sandal brand reported a net sales increase of 2.3 percent in the period to $22 million, up from $21.5 million the same time last year. Sanuk, which was divested in the middle of the quarter, saw sales decrease 47.6 percent to $2.8 million, compared with $5.4 million last year.

Plus, the company’s Other Brands division, primarily composed of Koolaburra, reported net sales decreased 15.8 percent to $25.8 million, compared with $30.6 million in Q2 2024.

“Hoka and Ugg produced outstanding second-quarter results driven by strong consumer demand for our innovative and unique products,” Stefano Caroti, president and chief executive officer of Deckers Brands, said in a statement. “As I step into the CEO role, I’m committed to building on our proven foundation to support growth, guided by our consumer-first mindset, brand-led philosophy, innovation-forward products, and globally driven focus. Our dedicated teams’ continued execution of Deckers’ long-term strategy has our company well-positioned to achieve an increased outlook for fiscal year 2025.”

Looking ahead, Deckers raised its guidance for the year. The company now expects net sales for the full fiscal year 2025 to increase 12 percent to $4.8 billion. This is up from its previous guidance, which predicted sales for the year to rise 10 percent to $4.7 billion.

It’s still summer, but Ugg is getting ready to usher in one of its busiest times of year with the introduction of its latest campaign.

In the latest edition of its “Feels Like Ugg” marketing series, the Deckers-owned footwear company has tapped a diverse cast of creatives to showcase the brand’s new fall/winter 2024 collection.

Directed by We Are From L.A., photographed by Samuel Bradley and created in partnership with AKQA, the campaign sees the cast on an energy-filled journey throughout the streets of Seoul, South Korea wearing the brand’s fall/winter 2024 collection.

The campaign takes the cast from creating solo memories to connecting and celebrating each other’s self-expressions including Leah Dou and Young Mazino playing music in a record store, Karabo Poppy Moletsane creating one-of-a kind works of art, Phil Oh photographing Alex Consani and Precious Lee in an impromptu photoshoot and Hanni expressing herself through song.

For Anne Spangenberg, president of Ugg and Koolaburra by Ugg at Deckers Brands, the decision to assemble such an eclectic cast comes from the brand’s desire to create an environment centered around inclusivity.

“I’m excited to continue to celebrate our community,” Spangenberg told FN in an exclusive interview. “As a global lifestyle brand, it’s important to reflect the consumers that we serve. And so, in thinking about the cast, we wanted a group that will bring our consumer that feeling of connection and community, both from a product perspective and also a messaging perspective.”

Speaking of product, Spangenberg said this fall will see an evolution of some of Ugg’s most iconic styles. “This year, we split the platform of our signature Classic boot [into two chunkier pieces], which we call New Heights,” the executive noted. “We will also continue to celebrate the twin seam. The other thing that’s going to be fun this season is the idea of a lot of volume. Whether that’s in height or width, we’re celebrating that as well in a collection we call Pumped.”

Looking closely at some of the shoes seen in the campaign, consumers will discover the New Heights Cozy Clog ($140), the Pumped Slide ($150), the Classic Mini Dipper ($160), the Classic Ultra Mini New Heights ($170), the Classic Twin Seam New Heights ($190), the Classic Mini Pumped Molded ($200), the TrailGazer ($200), the Neumel High Weather Hybrid ($210) and the New Heights Platform Xtra ($280).

This fall, the brand will host a series of activations and events where participants can express themselves and connect with others. The brand’s social-first activation and in-store events will kick off Sept. 21. Later this year, Ugg will open the next rendition of its global Feel House, a ten-day multi-sensory community retail space. Further details on events and activations to be announced in the coming weeks.

This campaign comes as Ugg, along with Hoka, continue to drive winning results at Deckers Brands. In July, Deckers 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.  At Ugg specifically, net sales increased 14 percent to $223.0 million, up from $195.5 million the same time last year.

The reason behind Ugg’s momentum? Spangenberg told FN that she believes it all comes back to community. “The brand really resonates with consumers as we think about what we stand for, and most importantly, what we celebrate in our consumers – and that is self-expression,” she said.

Looking ahead, Spangenberg said the brand still has opportunity in the men’s space – a segment outgoing Deckers chief executive officer Dave Powers has also pinpointed.

“I never thought that I would say that we were underserving men,” Spangenberg said. “But we’ve got a huge opportunity. I’m very excited and very proud of the work that our team have done to better understand our men’s consumers and the opportunity in that space and to better serve them.”

What’s on deck for the men’s collection? The executive noted new platform silhouettes, updates to the Tasman and a new loafer coming in the spring. “There’s a lot of energy around the men’s styles that we are going to deliver this season, and in the seasons to come,” she added.

Directed by We Are From L.A., photographed by Samuel Bradley and created in partnership with AKQA, the campaign sees the cast on an energy-filled journey throughout the streets of Seoul, South Korea wearing the brand’s fall/winter 2024 collection.

See all of the photos from the new campaign below.

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 president Robin Green has two aces up her sleeve when it comes to leadership skills. For one thing, she’s a footwear industry veteran whose resume includes a 17-year stint at Nike, culminating in her role as global vice president and general manager of men’s running and fitness. And on top of that, her background as a seasoned trail running athlete has translated to unique skills in the business and leadership world.

“Trail running has taught me humility, resilience and the importance of authentic positivity — building up not only yourself but others as well,” said Green, who joined Deckers Brands in February as president of Hoka and who spends her downtime running trails throughout the Western U.S. “It has also taught me discipline and focus. There have been so many times I didn’t want to get in a long training run or wanted to stop during a race, but had to dig deep, sticking to the commitment I set forth to accomplish. This is a perspective that I have also translated to difficult times in my career.”

Green added that her experience playing soccer also contributed to her deeply held values of teamwork and community, something she seeks to foster by mentoring other people in the industry.

“Forming meaningful relationships with others across teams and organizations, especially when you have the opportunity to shape someone else’s growth and eventual success, is something that has been very important throughout my career,” she said. “It is truly where I get a lot of energy and inspiration as I take on this new role at Hoka.”

A version of this article appeared in the June 3 print issue of FN, as part of the “Women Who Rock” special section. On June 5, FN and Two Ten Footwear Foundation honored these women at a live event in New York City.

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.