20VC: From a $1.1M Acquisition to $1.4BN in Revenues; The Meteoric Rise of Hoka Running with Deckers CEO, Dave Powers

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

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?