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Home / Business / Hoka sneakers explode in popularity, increasing Ugg owner Deckers

Hoka sneakers explode in popularity, increasing Ugg owner Deckers



Susquehanna Financial Group analyst Sam Poser on Tuesday upgraded the company's rating of Deckers shares to a positive neutral rating, saying the Hoka brand in particular "accelerates faster than we previously expected." Susquehanna also increased his share price target to $ 169 from $ 161.

Decker's stock rose more than 4% on Tuesday to trade around $ 144 per share. The warehouse has rallied around 45% over the past year.

Hoka, known for its colorful and upholstered running shoes, was founded in France in 2009 and purchased by Deckers in 201

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It is gaining popularity among younger customers, mainly because it is an inked partnership with trendy, up-and-coming -coming dealers like Engineered Garments and Outdoor Voices to get their products in front of the millennia.

The partnership has nudged Hoka further into the lifestyle shoes category, which has grown faster than actors in the United States More and more consumers are turning to sneakers, not to gym trips, but to wear everyday.

The rapper Kanye West – who has his own line of Yeezy shoes by Adidas – was recently looked at wearing a Hoka boot. The style was immediately sold out online.

Susquehanna's Poser said the Hoka brand has a "long path for further expansion."

He said "buzz generated by the [Kanye West] image was organic and authentic, creating a halo effect for the entire brand."

Susquehanna estimates that the Hoka brand will exceed $ 300 million in revenue by 2021 and 500 $ 20 million in revenue in 2025. Revenue has climbed around 40% for the brand over the past three years. The company expects Deckers to use its own "Ugg playbook" to methodically build the brand and carefully allocate and segment the Hoka product. "

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