Deckers Brands Names RealReal CEO Rati Sahi Levesque to Its Board

Deckers Brands, the parent of the HOKA and UGG brands, said on 22 October 2026 that Rati Sahi Levesque will join its board of directors effective 1 December 2026. Levesque is president, chief executive officer and a director of The RealReal, the Nasdaq-listed resale platform.

The appointment was announced with Deckers’ results for the quarter ended 30 September 2026. Lauri Shanahan retires from the board on the same date, after more than a decade of service.

Who Joins the Deckers Board

Deckers says Levesque has more than 15 years of retail leadership experience, with expertise in brand positioning and operational execution. She joined The RealReal as its first employee in 2011 and holds a B.S. in Economics from the University of California, Santa Cruz.

Levesque will sit on the board’s Audit & Risk Management Committee, and her seat replaces Shanahan’s. Patrick J. Grismer, a director since 2025, moves to the Corporate Responsibility, Sustainability & Governance Committee. Both committee changes take effect on 1 December.

An 8-K filed with the U.S. Securities and Exchange Commission says Shanahan’s retirement does not stem from any disagreement with the company’s operations, policies or practices. The filing says Levesque will receive pay under the company’s standard non-employee director compensation policy, and that no arrangements or understandings tie her to the appointment.

Q2 Sales and Outlook
Deckers reported second-quarter net sales of $1.481 billion, up 3.5%, and gave a fiscal 2027 net sales outlook of $5.700 billion to $5.725 billion in its results release dated 22 October 2026.

What Deckers and the New Director Said

Board chair Cindy Davis cited Levesque’s ability to turn consumer insights into differentiated experiences and sustainable growth. Davis also thanked Shanahan for more than a decade of service.

Levesque praised HOKA and UGG as exceptional brands and praised Deckers’ discipline in maintaining brand health over time. Shanahan said it had been a privilege to serve on the Deckers board.

The two companies trade on different exchanges: Deckers on the New York Stock Exchange as DECK, and RealReal on Nasdaq as REAL.

Second-Quarter Sales by Brand and Region

Consolidated net sales were $1.481 billion, up 3.5% from $1.431 billion a year earlier, and up 2.8% on a constant-currency basis. HOKA net sales rose 6.8% to $677.2 million, and UGG net sales rose 3.5% to $786.4 million. Other brands fell 54.3% to $17.0 million, reflecting the phase-out of standalone Koolaburra operations.

By channel, wholesale sales rose 5.5% to $1.093 billion. Direct-to-consumer sales fell 1.8% to $387.5 million, with comparable DTC sales down 6.4%. By geography, domestic sales slipped 0.4% to $835.8 million, while international sales rose 9.0% to $644.7 million.

Gross margin was 60.5%, compared with 56.2% a year earlier. The company said IEEPA tariff refunds added about 310 basis points to both gross and operating margin, from $46.0 million in net refunds and $3.0 million of interest. Operating income was $389.5 million, against $326.5 million. Diluted earnings per share were $2.31, against $1.82, and about $0.28 of that figure came from the refunds, net of tax.

Levesque joins the Deckers board effective 1 December 2026, replacing the retiring Lauri Shanahan.

Outlook, Refunds and Share Repurchases

For the twelve months ending 31 March 2027, Deckers now expects net sales of $5.700 billion to $5.725 billion. It expects HOKA sales to rise by a high-single-digit percentage and UGG sales by a low-single-digit percentage. The outlook also assumes gross margin of about 58.5%, operating margin of about 23%, and diluted EPS of $7.80 to $7.95.

The outlook includes IEEPA refunds received through 8 October 2026: $87.9 million in net refunds plus $4.7 million in interest. It puts the margin benefit at about 150 basis points and the projected EPS benefit at about $0.52, and assumes no further refund collections.

Cash and equivalents were $1.210 billion, down from $1.414 billion a year earlier, and the company had no outstanding borrowings. In the quarter, Deckers repurchased about 3.2 million shares for $299.3 million. Year to date, it has bought back about 6.5 million shares for $637.5 million, with about $4.4 billion left on its repurchase authorization. The EPS outlook assumes $1.0 billion of repurchases.

The conference call was set for 22 October at 4:30 p.m. Eastern Time, with a live webcast on the company’s investor site and a replay available for at least 30 days. Chief executive Stefano Caroti said second-quarter earnings were “above our expectations.”