Deckers Sells Sanuk to Canadian Active Company Lol? Brands
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Nearly a year after Deckers Brands announced its intention to divest Sanuk, the outdoor lifestyle shoe brand has officially been scooped up by Canadian active company Lol? Brands.
Terms of the deal, which closed on Aug. 15, were not disclosed.
According to Todd Steele, chief executive officer of Lol?, when the company heard that Deckers was selling Sanuk, it “jumped” at the opportunity.
“We think there are a lot of common themes between our two brands, from sustainability to creativity to the importance and connection to community,” Steele told FN in an interview. “We also think Sanuk can benefit from our global perspective since a large part of our business is done outside of the U.S.”
Steele said there is potential to expand Sanuk’s consumer base as well as its core product assortment. The CEO hopes that with renewed investment in the brand, Sanuk’s wholesale partners will discover the brand’s evolution, which includes a nimble and progressive approach to marketplace management and customer service.
“We’ve got a creative design team in Montreal and San Francisco that are excited to start collaborating on a whole new product category, as we haven’t participated in the footwear market in the past,” Steele added. “The chance to see Sanuk be an innovator in that area is exciting to all of us.”
To help execute this strategy, Lol? brought on Deckers and Sanuk veteran Katie Pruitt as the brand’s new vice president and general manager. Prior to the acquisition, Pruitt served as Sanuk’s brand manager at Deckers since 2022. Other roles she’s held at the company included product director, senior manager of product development innovations and footwear product development manager, among others.
In her new role, Pruitt told FN that she will oversee all strategic planning and execution of operations as well as the brand teams. This includes a focus on evolving the brand strategy and prioritizing direct-to-consumer and wholesale customers to drive innovation and growth.
“I’ve been with Sanuk for over a decade and had a chance to work on many sides of the business,” Pruitt said. “I also had the privilege of working with Sanuk founder Jeff Kelley and some of the other people that have built this brand. I’ve always been really inspired by their passion, and this has prepared me to carry forward their legacy and embrace this new opportunity.”