Hoka Bondi 8
HOKA: BRAND OF THE YEAR & ATHLETIC
To the Max
Hoka is setting a torrid pace.
THIS BRAND IS on fire. Hoka, a division of Deckers Brands, eclipsed the $1 billion annual sales mark in 2022. For the first three quarters of 2002, the maximal cushioning brand only picked up steam as the year wore on. Net sales rose 54.9 percent to $330 million in Q1, followed by a 58.3 percent jump to $333 million in Q2 and a meteoric increase of 90.8 percent to $352.1 million in Q3. Not bad for a brand that amassed just $2 million in sales when Deckers acquired it in 2012 and hit a mere $350 million in 2020. What is fueling this epic run? For starters, Hoka has expanded well beyond its original core audience of ultra-marathoners, who became disciples of its max-cushioning technology at a time the industry had gone minimalist mad. The collection has since expanded into trail running, hiking, walking, and even weight lifting styles—proving its maximal midsoles have many applications and broad appeal. Consumers are buying into Hoka’s design premise that more cushioning helps prevent repetitive impact injuries that enables them to keep doing the exercise activities they enjoy. Plus, the shoes just look funky, in an over-the-top, techy way—and that hits on the old sneaker market adage: bells and whistles sell. “Hoka looks really fresh and new in the market,” says Matt Powell, an advisor with Spurwink River, a retail consulting firm. “The big brands all look tired. Consumers want uniqueness and freshness, and Hoka checks these boxes.” Even in the face of strong economic headwinds and an overall athletic market malaise, Hoka raced forward. But that was of little surprise to Powell. “Consumers have consistently shown that they will buy products that are fresh and unique,” he says.
“It really was a very good year for Hoka,” affirms Colin Ingram, vice president of product. “Our last quarter of 2022 certainly was cause for celebration, and while our product is at the heart of what we do, the emergence of the brand itself has been the over arching accelerator of sales.” The exec points to investments in athletes, events, and brand marketing as reaching more consumers who were able to learn about the Hoka’s unique attributes and what the brand stands for. “Last year was a tipping point to where you increasingly saw Hokas being worn across a broad array of demographics,” he says. “People are understanding our value proposition, and that our values that have resonated in the core running, outdoor, and triathlon communities also resonate globally.” Lester Wasserman, owner of Tip Top Shoes and West NYC in Manhattan, reports 2022’s Hoka sales were at another level. “We’ve been selling Hoka since 2015 and sales have grown steadily, but the growth since 2021 and, specifically this past year, has dwarfed any prior year,” he says, citing the Bondi 8 and Clifton styles as the most popular along with “outstanding” sales of the Speedgoat 5 and Anacapa trail styles. “Hokas have tremendous shelf appeal. There’s visible technology that looks comfortable on the wall, and once the customer puts it on, it’s a sale,” Wasserman says. Nick Krouse, director of footwear for Fleet Feet, reports a similar resounding success across the chain’s 250 running specialty stores nationwide. “As a brand that, a short time ago, was just cracking our top 10 list of footwear brands, Hoka has made remarkable strides in market share, which is now close to a quarter of our total footwear sales,” he reports. “It’s a direct reflection of their relentless pursuit of their vision, mission, and product evolution. They’ve done a tremendous job partnering across our brand to create a deep and meaningful partnership to support our local stores, and they also collaborate on storytelling moments and initiatives such as ‘Humans of Hoka,’ ultimately leading to increased customer demand.” In addition to the Bondi 8 and Clifton 9 that ranked consistently as Fleet Feet’s top-selling styles—both in-store and on fleetfeet.com—Krouse cites the updated Mach 5, a lightweight shoe for up-tempo runs, as a big seller. “It’s the shoe where you really want to fly, and it garnered a lot of positive attention from our customers,” he says. “And as a brand with roots in off-road styles, it’s important to call out the success of the Speedgoat and Challenger trail runners for their durability and versatility across varying terrain, as well as the Arahi and Gaviota styles, which were key in Hoka’s support category.” Krouse says Hoka’s max design premise has broad appeal for performance reasons as well as aesthetically. “A lot of runners and walkers find the classic Hoka combination of a thick midsole, low heel drop, and rocker shape to be quite comfortable, so it attracts a broad spectrum of consumers,” he says. “That includes people who regularly run, casual wearers who like the visual aesthetic, wellness seekers wanting a versatile shoe that can be used for a variety of activiColin Ingram, VP of product, Hoka ties, and health care and service industry professionals who need a comfortable shoe while working on their feet all day.” —G.D.
24 footwearplusmagazine.com • march 2023
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