Footwear Insight - Business Report Quarterly

HEARD AROUND THE INDUSTRY… 14 Footwear Insight Business Report Quarterly ~ Q1 April 8 2024 footwearinsight.com THEY SAID IT... February 21, 2024 "I think the future of the outdoor category is lighter and faster and more athletic and more versatile. And I think certainly predicated on not just function, but also style. And I think that's where – in Merrell, we can work harder is really hitting that style piece and designing great looking shoes that are versatile that can only not only be worn on the trail, but also can be worn for everyday wear. e onus is on the category leader to help reinvent. I think the reinvention is lighter and faster. And I think the work we've done on the pipeline is important." Chris Hufnagel, President, and CEO of Wolverine Worldwide February 1, 2024 "We believe the success of our brands and company as a whole continues to be the direct result of innovative product that is on-trend and resonates with consumers across the globe, decision-making that is guided by our long-term strategic objectives, alignment between product creation, marketing, and omni-channel distribution that centers around the consumer, and the strong execution of our teams to deliver in real time while remaining focused on the longer-term vision of our marquee brand." Dave Powers, President, and CEO of Deckers Brands He will retire from both positions on Aug. 1 but will remain on the company's board of directors. March 12, 2024 "We all know that the pandemic has been a catalyst for change, redefining lifestyles, and fashion norms. We have been liberated to work more from home, introduce sports and movement to every day, and wear sportswear as the new uniform. Going way back, this revolution reminds me of Coco Chanel freeing women from corsets and introducing comfort and pants to the female wardrobe. Yes, pants…is happened in the early 20th century. Since then, tech fibers and new manufacturing methods of footwear and apparel have allowed sports brands to retire the military uniform and the classic dress as prime archetypes and inspiration for fashion— out with the coat, formal jackets, leather shoes and in with sneakers, tights, track pants, hoodies, and technical jackets. It's the next revolution. e last pivotal years made it clear that sports is the new uniform, the new normal that will continue to transcend culture and fashion. Sports is not just an activity, it's a statement, a lifestyle, a new luxury for a generation, valuing movement and exploration over possession and status." David Allemann, Executive Chairman and Co-Founder of On Holding AG February 21, 2024 "For 2024, we are working on more initiatives and collaborations including a global agreement with John Deere that will unite two trusted brands for a new technical footwear offering." David Weinberg, Chief Operating Officer, Skechers March 21, 2024 "We need to sharpen our focus on sport. We must drive a continuous flow of new product innovation. Our brand marketing must become bolder and more distinctive. And while Nike Direct will continue to play a critical role, we must lean in with our wholesale partners to our brand and grow the total marketplace." John Donahoe, President and CEO of Nike Inc. February 15, 2024 "e Crocs brand has entered 2024 with momentum. From a product perspective, we expected to deliver more height for her, street for him and drive personalization at scale. We expect Sandals to continue to gain as a percentage of sales, driven by newness as we relaunched the classic Sandal 2.0 and scale, our recently introduced Getaway Sandal franchise… In the fourth quarter, we tested slippers in four colorways and we're able to get these to market 60% faster than our normal product cycle. is test sold out in two and a half weeks and we're building this into a full line for 2024." Andrew Rees, CEO of Crocs, Inc. n

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