20VC: From a $1.1M Acquisition to $1.4BN in Revenues; The Meteoric Rise of Hoka Running with Deckers CEO, Dave Powers
20VC
Dec 21, 2023
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Dave Powers serves as President and CEO of Deckers Brands, a global footwear and apparel company where he focuses on the company’s five high-performing brands: UGG®, Teva®, Sanuk®, HOKA One One® and Koolaburra®. Prior to Deckers, he held executive leadership roles at Converse and Timberland, where he led worldwide retail merchandising, marketing, visual and store design as well as the creation of a sustainable line of footwear and apparel.
In Today’s Episode with Dave Powers:
1. The Unlikely CEO of a Global Footwear Company:
How did Dave make his way into the world of consumer and fashion from the ground up?
Why did Dave never think he was the type of person to be a CEO?
What does Dave know now that he wishes he had known when he started his career?
2. From $1.1M Acquisition to $1.4BN Revenues: The Hoka Story:
Why did Deckers acquire Hoka for $1.1M? What did they see in this, at the time, futuristic running shoe that no one else saw?
Was the growth of Hoka linear or were there needle-moving moments that propelled the brand?
What did they do so right that led to their success?
What would Dave have done differently in the Hoka journey if he had his time again?
3. From $14.7BN Acquisition to Oprah’s Favourite: The UGG Journey:
How much of a needle mover was it for UGG when Oprah added it to her list of favourite items?
Why did UGG go through a tough period? What did they do wrong?
What does it take to resurrect a brand? How can they bring UGG back to life and make it cool?
4. From Abercrombie to LVMH: An Analysis of the Industry:
How does Dave analyse the rise and fall of Abercrombie and Hollister? Where did it go wrong?
What does Dave believe LVMH are the best in the world at? What does he learn from them?
How important is it for consumer companies to have a hero product?
How can consumer companies scale to mass markets without losing their core audience?
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