Lolë, a Montreal-based activewear brand, has acquired the footwear brand Sanuk from Deckers Brands, owner of Ugg, Teva and Hoka. Based in Southern California, 27-year-old Sanuk is known for its casual and laid-back footwear, particularly sandals and slip-ons.
Sanuk’s distribution is primarily focused on wholesale channels and online sales, with its wholesale partners including a mix of specialty retailers, including surf shops, and larger chain stores. Its wholesale versus direct-to-consumer sales are not disclosed publicly, and the acquisition amount was not disclosed.
“Sanuk’s revenues have seen some decline in recent years, but we see incredible opportunities for growth in the brand, and our hope is that, in the hands of a smaller company, it will receive unique attention and investment,” said Lolë CEO Todd Steele.
This acquisition is part of Lolë’s strategy to strengthen its position in the North American market, particularly in the U.S. where Sanuk has a well-established presence. Known for its versatile and eco-friendly products, Lolë has seen steady growth since its launch in 2002. Lolë is available DTC through its website and stores in Canada and the U.S. It also sells in more than 1,000 points of distribution, with wholesale partners including Nordstrom in the U.S. Lolë is owned by Coalision, a Montreal-based company specializing in designing and distributing lifestyle and activewear brands. Its annual revenue is north of $150 million.
“Sanuk has enjoyed an amazing journey with Deckers, achieving remarkable success together,” said Katie Pruitt, president of Sanuk, on a call with Glossy. “Now, we’re looking forward to a fresh environment and new resources that will drive meaningful transformation and success for Sanuk. Deckers announced the sale of Sanuk publicly in October and took their time with a comprehensive and careful process to meet prospective buyers. They wanted to ensure that Sanuk went to great new owners who would continue its legacy.”
Pruitt emphasized the alignment between Lolë and Sanuk. “Lolë’s commitment to creating versatile, eco-friendly activewear aligns perfectly with Sanuk’s laid-back ethos,” she said. “This partnership will enable both brands to leverage each other’s strengths, expanding our product offerings and enhancing our market presence.”
She added that, with Lolë’s support, Sanuk is poised to grow in new ways, tapping into the full potential of the North American market. The acquisition will help the brand expand its product offerings and market reach by leveraging the resources and expertise of the acquiring company. “We’re just getting started, but in the coming months, we’ll work closely with the Lolë team to integrate our operations and explore new opportunities,” said Pruitt. “Consumers and retailers can expect exciting new product launches and marketing campaigns that remain true to the brand ethos. We’re planning to expand Sanuk’s presence in key markets and internationally.”
Lolë’s acquisition of Sanuk reflects the brand’s broader ambition to become a leading player in the activewear and lifestyle sectors. Combining Sanuk’s established customer base and distribution channels with Lolë’s approach to fashion and sustainability, both brands are positioning themselves for further growth.
“Sanuk shares Lolë’s dedication to responsible production, sustainable choices, innovation in the marketplace and building a genuine connection with the communities we serve,” said Steele. “Looking ahead, we will be focused on product innovations that stay true to what customers love about Sanuk — namely fun, comfort and sustainability — and are eager to explore fresh ideas that will ensure the brand keeps evolving.”
Many Canadian brands have found significant success in the U.S. market, often benefiting from their proximity to the American border and the cultural similarities between the two countries. Lululemon, Canada Goose and Aritzia have established strong presences in the U.S., leveraging high-quality products to appeal to American consumers’ preference for premium goods. Aritzia, for example, is set to continue its expansion in the U.S. market, driven by strong real estate investments. Aritzia’s first-quarter 2024 results from July 2024 showed growth, with net revenue climbing 7.8% to $498.6 million, fueled by a 13% surge in U.S. sales.
Acquisitions are nothing new for Lolë. In April 2023, the company announced its acquisition of San Francisco’s Époque Évolution, a sustainable fashion label founded by Nancy Taylor. Taylor, with experience at brands including Athleta and Gaiam, has continued leading Époque Évolution while also becoming head of design and creative director at Lolë. The partnership expanded Époque Évolution’s presence in North America and Europe, with the collection available in Lolë in its 19 retail locations primarily in Canada and online.
