Customers are far from giving Ugg the boot.
According to parent company Deckers’ latest earnings, Ugg sales for the second quarter totaled $610.5 million, a 28.1% jump year-over-year and nearly 56% of Deckers’ total sales. Meanwhile, at resale site StockX, Ugg is on pace to set an all-time trade record in 2023. It remains the fastest-growing brand in StockX’s ‘shoes’ category, and searches for “Ugg Tasman” and “Ugg Tazz” are up 2,340% and 1,340%, respectively, in the last year. Even dupes of Ugg are taking off on platforms like Amazon and TikTok Shop.
Ugg is considered one of the most recognizable Y2K-era brands, even though it was founded in the late 1970s. For much of the 2000s, celebrities and the public alike flocked to “short” and “tall” Uggs in colors like chestnut and pink. While demand eventually dipped, Ugg is now back in the game amid an early-2000s nostalgia resurgence. In fact, Ugg — along with Hoka — contributed to record revenue at Deckers for both the second quarter and first half of fiscal year 2024, Deckers CEO David Powers said in a press release. Zooming out even further, Ugg sales outgrew Hoka’s for the first time since Deckers acquired Hoka more than 10 years ago, Tom Nikic, svp of equity research at Wedbush Securities, pointed out.
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