Deckers Outdoor Corp. announced that is has decided to cease the distribution of Simple Shoes at the end of the year due to the overlap between the brand and recently acquired Sanuk.
“Simple Shoes was the first brand to prove it’s possible to make eco-conscious footwear, and we’re proud to have accomplished all that we have,” according to Angel Martinez, president, CEO, and board chairman. “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, which owns UGG, Teva, Sanuk, and Simple amongst others, signed a definitive asset purchase agreement for Sanuk in March for $120 million plus earn outs. There’s no word at this point what Deckers’ plans for the Simple brand include.