Parent of Ugg brand considers sale

Deckers Brands announced on Tuesday is it reviewing strategic alternatives, including a possible sale.



The decision comes as the company said it has made “significant progress” in streamlining its cost structure, optimizing its retail store fleet, and realigning its brands to improve profitability. Deckers portfolio includes the popular footwear brands Ugg and Teva.



“The management team continues to remain focused on driving improvements in the business through our recently announced $150 million savings program,” said Dave Powers, president and CEO, Deckers. “With the board of directors and management team focused on enhancing stockholder value and a commitment to pursuing the right course of action for all stockholders, the Board believes now is an appropriate time to explore a broad range of strategic alternatives that may have the potential to unlock further value.”



Deckers has retained Moelis & Company LLC as its financial advisor. The company has not set a timetable for completion of the review process.