Summary of summer news from footwear players

Crocs, Deckers and even Skechers reported good financial performance during the summer season, underscoring that, post-Covid and confinement effects, consumers around the world are still looking for comfort .

strong financial results

Thus, in the first six months of fiscal year 2023, which ended June 30, US shoe maker Crocs, which oversees the brands of the same name and Heydude, reported $1.9 billion (1.7 billion euros) in revenue, compared to $1.6 billion in 2023. Registered business. Its sales got a boost from a year ago, especially in the Asia-Pacific region. During the period, sales of the Crocs brand, known for its customizable plastic clogs, grew 16% to reach a turnover of $1.48 billion. To entice consumers, Crocs is ramping up collaborations, with the brand recently introducing a clog model featuring hip hop group Wu Tang Clan, and unveiling its second collaboration with designer of sneakers Salehey Bembury.

On its part, Deckers, a Goleta, California-based shoe distributor whose portfolio includes the Hoka, Teva and Ugg brands, published a turnover figure of $676 million for the first quarter of its 2023/24 fiscal year ending June 30. The group, up 10%, is driven by its star brand Hoka, which posted growth of 27.4% to $420.5 million. On the other hand, Ugg, Teva and Sanuk are all down.

Alliances with Artists and Athletes

Bad news for Skechers as well. After unveiling the first model of its collection of boots with an urban accent featuring rapper Snoop Dogg, the American shoe label is foraying into the football footwear segment with cleats. And for this first attempt, Skechers will field Harry Kane, one of the English football stars recently recruited by Bayern Munich. The striker would wear the SKX 01 model and immediately sign a lifetime contract with Skechers. The announcement comes as the brand reports a turnover of $4 billion (3.6 billion euros) in the first half of 2023 fiscal, a growth of 8.9%, and expects annual revenue of $8 billion.

stock market at a glance

In another register, German shoe brand Birkenstock may soon launch its IPO. Indeed, according to Bloomberg, L Catterton should launch the German shoe brand’s IPO in September, which could be valued at more than $8 billion (just over 7 billion euros).

The private equity firm, backed by French luxury group LVMH, will thus be working with Goldman Sachs and JP Morgan on a potential IPO in the United States. Known for its comfortable sandals, Birkenstock, which also plays the card with collaborations such as Dior or Manolo Blahnik, saw its turnover grow last year by 29% to nearly 1.2 billion euros ($1.3 billion).