Walk into any running store today, any gym, any airport terminal, and you will see those unmistakable thick-soled shoes everywhere. HOKA went from a niche ultramarathon brand to one of the hottest footwear names on the planet in under a decade.
But behind those chunky midsoles and pastel colorways is an ownership story that connects two French trail runners, a small mountain town in the Alps, a $110 million acquisition, and one of the most impressive revenue growth stories in modern footwear history.
What Is HOKA?
HOKA (stylized as HOKA and formerly known as Hoka One One) is a French-founded sportswear brand that designs and markets running shoes, trail shoes, and lifestyle footwear.
The brand is headquartered in Goleta, California, with a design and R&D team still operating in Annecy, France — the Alpine town where it all began.
HOKA is best known for its “maximalist” shoe design — oversized midsoles that deliver extreme cushioning, in sharp contrast to the minimalist shoe trend that dominated running culture in the late 2000s. The name itself comes from a Māori phrase meaning “to fly over the earth” — a fitting description for shoes designed to make running feel effortless.
Who Owns HOKA in 2026?
HOKA is a wholly owned subsidiary of Deckers Brands (NYSE: DECK) — a publicly traded American footwear company headquartered in Goleta, California. Deckers acquired HOKA in April 2013 for a reported $110 million, and the brand has since grown to become the single most important revenue driver in the entire Deckers portfolio.
HOKA generated approximately $2.59 billion in net sales during Deckers’ fiscal year ending March 2026 — a 15.9% increase over the prior year — accounting for nearly half of Deckers’ total company revenue of $5.47 billion.
For a brand that had just $3 million in revenue when Deckers bought it, that growth is almost impossible to overstate.
The current President and CEO of Deckers Brands is Stefano Caroti, who succeeded longtime CEO Dave Powers effective August 1, 2024. Wendy Yang serves as President of HOKA and leads the brand’s day-to-day operations.
Ownership and Key Stakeholders Table
| Owner / Shareholder | Type | Stake | Key Detail |
|---|---|---|---|
| Deckers Brands (NYSE: DECK) | Direct Parent & 100% Owner | Full ownership of HOKA | Publicly traded; FY2026 total revenue $5.47 billion |
| Vanguard Group | Largest Institutional Shareholder | ~11% of Deckers (DECK) | Passive index fund giant; largest named DECK holder |
| BlackRock, Inc. | Second Largest Institutional Shareholder | ~8% of Deckers (DECK) | World’s largest asset manager |
| State Street Corporation | Institutional Investor | ~4.6% of Deckers (DECK) | Major index fund manager; consistent DECK holder |
| Geode Capital Management | Institutional Investor | ~2.8% of Deckers (DECK) | Quantitative investment firm |
| Stefano Caroti | President & CEO of Deckers Brands | Insider stake (low single digits) | Leads Deckers since August 2024; succeeded Dave Powers |
| Wendy Yang | President of HOKA | Management role | Runs HOKA brand day-to-day |
| Nicolas Mermoud & Jean-Luc Diard | Original Co-Founders | No current ownership | Co-founded HOKA in 2009 in Annecy, France; sold to Deckers 2013 |
The Origin Story: Two Trail Runners and a Mountain Town
HOKA was founded in 2009 by Nicolas Mermoud and Jean-Luc Diard — two former employees of Salomon, the French outdoor sports company — in Annecy, France, a small city nestled in the French Alps near the border with Switzerland.
Both founders were trail runners who were frustrated with existing shoe options. The dominant trend in running footwear in 2009 was the minimalist movement — thin-soled, barefoot-style shoes that were supposed to replicate natural running.
Mermoud and Diard believed the opposite approach would work better for long-distance trail running: a maximally cushioned, oversized midsole that would absorb the repeated impact of ultra-endurance events across rugged mountain terrain.
Their first prototypes were mocked within the running industry. The shoes looked outrageous — cartoonishly thick, wildly different from anything on the market. But the runners who tried them loved them immediately. HOKA shoes first gained traction among ultramarathon runners and were embraced by the trail running community before spreading to road running and eventually lifestyle consumers.
The $110 Million Deckers Acquisition
By 2013, HOKA had built enough momentum that Deckers Outdoor Corporation — already the owner of UGG, Teva, and Sanuk — came calling.
In April 2013, Deckers Outdoor Corporation completed its acquisition of HOKA for a reported $110 million. At the time of the purchase, HOKA had just approximately $3 million in annual revenue — a tiny fraction of the price paid. Deckers was betting on a vision, not a track record.
That bet has turned out to be one of the most successful acquisitions in the history of the footwear industry. From $3 million in revenue in 2013 to $2.59 billion in FY2026 — that is a growth of nearly 86,000% in thirteen years. No major footwear acquisition in recent memory has delivered returns anywhere close to that multiple.
Is HOKA Owned by Nike or Adidas?
This is one of the most commonly searched questions about HOKA — and the answer is a definitive no. HOKA has never been owned by Nike, Adidas, or any other major sportswear giant. It was founded independently in France, acquired by Deckers in 2013, and has remained under Deckers’ ownership ever since.
Deckers Brands is a separate, independent publicly traded company with no ownership connection to Nike or Adidas. The confusion likely arises because HOKA competes directly with those brands in the running shoe category and has surpassed many of their performance shoe lines in popularity among serious runners.
HOKA’s Rebrand: From “Hoka One One” to Just “HOKA”
On December 22, 2021, HOKA officially announced a rebranding — dropping the “One One” suffix and simplifying the brand name to just HOKA. The name “Hoka One One” came from the original Māori phrase, but the company decided that a cleaner, simpler name would better serve its evolution from niche trail shoe to global lifestyle brand.
The rebrand coincided with HOKA’s rapid expansion beyond its core running audience into everyday wear, healthcare and nursing professionals (who discovered the shoes’ comfort for long shifts on their feet), and fashion-conscious consumers.
Today, HOKA sells not just performance running shoes but also hiking shoes, recovery slides, and lifestyle sneakers that are as likely to be seen on a New York City sidewalk as on a mountain trail.
Deckers Brands: The Full Portfolio
Understanding who owns HOKA means understanding the company it calls home. Deckers Brands (NYSE: DECK) is a publicly traded American footwear company that operates a focused portfolio of brands alongside HOKA.
Its other major brands include UGG (the iconic sheepskin boot brand, and still a huge revenue contributor), Teva (sport sandals), Sanuk (casual footwear), and Koolaburra by UGG (a more affordable lifestyle boot brand).
Deckers has described its strategic direction clearly: it is increasingly a two-brand company, with HOKA and UGG together accounting for the overwhelming majority of its $5.47 billion in FY2026 revenue.
Deckers has no controlling individual shareholder. The company executed a six-for-one stock split in 2024 to broaden retail investor accessibility, repurchased over $1 billion of its own shares in FY2026, and carries essentially no debt — with approximately $1.5 billion remaining under its stock repurchase authorization as of March 31, 2026.
Where Are HOKA Shoes Made?
Despite being founded in France and headquartered in California, HOKA shoes are manufactured primarily in Vietnam, with additional production in China, Indonesia, and Bangladesh — all under Deckers Brands’ oversight and quality control processes. No HOKA shoes are currently manufactured in the United States.
The R&D and design teams operate across two locations: Goleta, California (the primary hub) and Annecy, France (where the brand was born and where a core design team still works). This dual-location structure allows HOKA to maintain its original creative identity while benefiting from the global operational infrastructure of its Deckers parent.
Frequently Asked Questions (FAQs)
Q1. Who owns HOKA shoes in 2026?
HOKA is fully owned by Deckers Brands (NYSE: DECK), a publicly traded American footwear company headquartered in Goleta, California.
Q2. When did Deckers buy HOKA?
Deckers Outdoor Corporation acquired HOKA in April 2013 for a reported $110 million, when the brand had just $3 million in annual revenue.
Q3. Who founded HOKA and where?
HOKA was co-founded in 2009 by Nicolas Mermoud and Jean-Luc Diard — two former Salomon employees — in Annecy, France.
Q4. Is HOKA owned by Nike or Adidas?
No. HOKA is owned by Deckers Brands and has no ownership connection to Nike or Adidas.
Q5. How much revenue does HOKA generate in 2026?
HOKA generated approximately $2.59 billion in net sales in Deckers’ fiscal year ending March 2026 — a 15.9% increase year over year.
Q6. Who is the current CEO of Deckers Brands?
Stefano Caroti became President and CEO of Deckers Brands on August 1, 2024, succeeding longtime CEO Dave Powers.
Q7. Where are HOKA shoes manufactured?
HOKA shoes are manufactured primarily in Vietnam, with additional production in China, Indonesia, and Bangladesh — none are made in the USA.
Q8. What other brands does Deckers own besides HOKA?
Deckers Brands also owns UGG, Teva, Sanuk, and Koolaburra by UGG — with HOKA and UGG being by far its two largest revenue drivers.