×
2 485
Fashion Jobs
AESOP
Retail Consultant | Fixed-Term | Part-Time | Brighton
Permanent · Brighton
PRETTYLITTLETHING
Senior Affiliate Marketing Executive
Permanent · MANCHESTER
BOOHOO
Ecommerce Trading Executive
Permanent · MANCHESTER
ESTEE LAUDER
Clinique - Consultant - Brown Thomas, Dublin - 15 Hours - Part-Time, Permanent
Permanent · Dublin
SHISEIDO
Nars Account Manager - Harvey Nichols London (37.5 Hours)
Permanent · London
ESTEE LAUDER
Clinique - Consultant - m&s Newcastle - 15 Hours - Part Time, Permanent
Permanent · Newcastle upon Tyne
ESTEE LAUDER
jo Malone London - Marketing And Consumer Engagement Director
Permanent · London
AESOP
Retail Consultant | Part-Time, Permanent | Aesop Selfridges Exchange Square, Manchester
Permanent · Central
BOOHOO
Print Sales Account Manager
Permanent · MANCHESTER
VF INTERNATIONAL
dc Team Leader
Permanent · COALVILLE
ESTEE LAUDER
Mac Cosmetics - Business Manager - Mac Stratford2, London - 37.5 Hours / Week - Full Time, Permanent
Permanent · London
HARRODS
Brand Manager
Permanent · LAKESIDE
HARRODS
Uniformed Security Officer
Permanent · LONDON
VF INTERNATIONAL
Senior Distribution Systems Specialist
Permanent · COALVILLE
ESTEE LAUDER
Bobbi Brown, la Mer And Darphin - CRM & Insights Assistant
Permanent · London
HARRODS
Food Supply Manager
Permanent · LONDON
JOHN LEWIS
Loss Prevention Partner
Permanent · CAMBRIDGE
HEAD OFFICE
Cyber Security Lead – Incident Response
Permanent · BRACKNELL
HEAD OFFICE
Delivery & Operations Manager
Permanent · BRACKNELL
BOOHOO GROUP
Product Manager
Permanent · MANCHESTER
DEBENHAMS
CRM Executive
Permanent · LONDON
PRETTYLITTLETHING
Business Analyst
Permanent · MANCHESTER
Published
Dec 15, 2017
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Deckers defeats activist investor Marcato, keeps business intact

Published
Dec 15, 2017

Deckers shareholders voted to keep the company's Board in tact, defeating activist investor Marcato whose Board nominees wanted to make changes to the company that included selling off its Hoka, Teva and Sanuk brands.


The brand has implemented a number of measures to turn its business around - Deckers Brands


Marcato Capital Management is a SF-based private equity firm that holds 8.4% of Deckers stock. Marcato cited underperforming business as the reason it sought to replace the nine Board members up for reelection with its own nominees. Key actions Marcato's nominees were in favor of were selling the three Deckers' brands it saw were losing business.

Deckers campaigned actively to inform its shareholders about how it was attempting to turn the business around and asked for their vote of continued confidence. The brand has set a goal of improving operating profits by $100 million by 2020 and its actions have been showing results.

To better meet its financial goals, the company centralized operations at its Goleta, CA headquarters and has completed strategic layoffs to reduce expenses. It also announced plans to expand the Ugg business with more seasonal collections and deepen penetration of Hoka through global expansion.

In an official statement, Deckers thanked shareholders and announced it was pleased with the outcome of the vote. Deckers said, "Today’s outcome reaffirms that we are on the right track. We remain focused on continuing our strategic transformation as we optimize our retail strategy, improve operating profits, refresh our Board and return capital to stockholders."

Deckers has been in business for 40 years and its brands are sold in 50 countries. Its portfolio includes Ugg, Koolaburra, Hoka One One, Teva and Sanuk. 

Deckers will file the official results of the proxy vote with the SEC.

Copyright © 2022 FashionNetwork.com All rights reserved.