Lolë Brands, a Canadian athleisure, active and outerwear brand, announced the acquisition of the outdoor lifestyle footwear brand Sanuk from Deckers Brands. Deckers had indicated its intention to sell the brand in fall 2023. In the financial year ended March 31, Sanuk’s revenue plummeted 33% to $25.4 million.
Founded in 1997, the Sanuk brand has long been known for its original styles and irreverent marketing and is rooted in the surfing, action sports and outdoor communities. The sale heralds a new era for the Southern California-based brand, as Sanuk and Lolë share a commitment to responsibly produced, innovative and stylish designs.
Under the new ownership, Sanuk will benefit from renewed investment to build on its core strengths. According to the new owners, further brand development will benefit Sanuk’s existing customer base.
Katie Pruitt, who has been with Sanuk for over a decade and brings 20 years of industry experience, has been appointed Vice President, General Manager of Sanuk. She will focus on further developing the brand strategy and emphasizing direct sales and wholesale to drive innovation and growth. Sanuk will relocate its operations soon and open a new office in Los Angeles, California.
“Sanuk is iconic for its disruptive spirit and loyal fanbase, and we’re pleased to welcome the brand to the Lolë family,” said Todd Steele, CEO of Montreal-based Lolë Brands. “We look forward to working alongside Katie and leveraging Lolë’s resources and partnerships to embark on a new stage of growth for the brand.”
This acquisition is the second for Lolë in the past year as the company expands its portfolio of eco-conscious consumer brands. In April 2023, Lolë acquired the San Francisco-based sustainable womenswear brand Époque Évolution.
