Deckers is planning to branch out more internationally in its bid to increase its annual sales to $1 billion by 2012. Deckers plans for its business outside the U.S. to account for 30 percent of its total sales by 2012, up from 16 percent now.
The group’s total turnover is expected to grow this year by between 7 and 9 percent, but from next year onward, the growth rate should rise to 10 percent from 2010-2012.
Its goal is to hit sales of $750 million with UGG, $110 million with Teva, $80 million with Simple, $40 million with Tsubo and $20 million with Ahnu. For 2009, Tsubo is forecast to have $5-7 million in sales, and Ahnu is expected to reach $4-6 million.
The group hopes to have 50 shop-in-shops outside the U.S. this year, up from 29 in 2008, and increase U.S. shop-in-shops from 40 to 70. The typical shop-in-shop has 100 styles compared with 40 in the typical account, and drives 35-50 percent of sales.
Separately, Deckers’ board of directors has approved a $50 million stock buy-back program. As of March 31, the company had more than $230 million in cash, cash equivalents and marketable securities.