Deckers Outdoor Corp. announced that the company has made the strategic decision to cease distribution of its Simple Shoes brand.
Angel Martinez, President, Chief Executive Officer and Chair of the Board of Directors, commented: “Simple Shoes was the first brand to prove it’s possible to make eco-conscious footwear, and were proud to have accomplished all that we have. Given that there is some degree of overlap between Simple and Sanuk consumers, and Sanuk’s positive outlook and global appeal, we make this difficult decision knowing it is in the best interests of the brands, the Company and its shareholders.”
Deckers will cease distributing the Simple Shoes brand effective Dec. 31, 2011.
As reported, Deckers on May 19 signed a definitive asset purchase agreement to acquire the Sanuk brand for $120 million plus earn outs, or nearly three times Sanuk’s 2010 sales of $43 million.
Deckers Outdoor’s brands include Teva, Simple Shoes, UGG Australia, TSUBO, and Ahnu..
