|
Go To |
Deckers Outdoor
Headquarters: 495-A South Fairview Ave. Website: http://www.deckers.com Deckers is a maker of fashion and outdoor footwear. Currently, the Company offers three primary product lines under the following brand names: Teva - high-performance sports sandals, thongs, amphibious footwear, trail running shoes and rugged closed-toe outdoor footwear; Simple - innovative casual lifestyle shoes that combine the comfort elements of athletic footwear with casual styling; and UGG - authentic sheepskin boots, slippers, slides and other casual footwear.All of the Company's footwear shares the common feature of high quality with a primary focus on functionality and comfort. The Company offers its products through domestic retailers, international distributors and through its websites, catalogs and retail outlet stores. Deckers is headquartered in Goleta, CA and also operates in China, Macau and the United Kingdom. The company reported record revenues in 2009 of $813.2 million, a 17.9% increase, and net income of $116.9 million. UGG brand sales made up $711.8 million in revenues. History Doug Otto, Chairman of Deckers, began producing sandals in 1973 in Goleta, CA. Back in the early 70's the local Hawaiians adopted Doug Otto's rugged flip flops, being made at that time under the name, "Driftwood Dan". Quickly the islanders gave them a nick name. The flips' unique multi-layered construction gave the impression of multiple decks, and soon enough, the Hawaiians simply began calling them "Deckas" (the pidgin version of Deckers). During one of Doug's "business" trips to Hawaii in '75, he heard everyone calling the thongs Deckas. He thought the name made sense and had a nice ring, so when he returned to the mainland he renamed his brand "Deckers." Deckers Brand flip flops spread in popularity throughout the 70's and 80's, helping to create and mold the burgeoning surf lifestyle marketplace. Deckers manufactured its original brand of Deckers sandals for just over 20 years. In 1985 the company entered into a licensing agreement to produce and distribute Teva sandals. With this new license, the company experienced tremendous growth and set the stage for today's success. Teva, the original sport sandal, was initially designed for river rafting in 1984 by Grand Canyon river guide Mark Thatcher. At first, Teva was known only as a sports sandal with its unique patented strapping system. Since 1994, however, the Teva line has also included fashionable leather casuals that are ideal leisure-wear for men, women and children. Deckers' success with Teva was evidenced when Deckers was awarded "Company of the Year" by Footwear News in 1992. In 1993, Deckers acquired Simple Shoes. Created in 1991 by Eric Meyer as a link between athletic and outdoor shoes, Simple styles now include sneakers, clogs, sandals, and men's and women's casuals. The shoes are designed to blend performance and style into easy-to-wear shoes for the "feel good lifestyle" inherent to Santa Barbara, California. Deckers also completed its Initial Public Offering in 1993 trading on NASDAQ. Two years later, Deckers acquired UGG Holdings, Inc. Brian Smith founded UGG in 1979 in order to import sheepskin boots from Australia to the U.S. Initially popular among the surfing crowd in Southern California, UGG boots caught fire in the early 90's. Benefits Employees are eligible to enroll in the insurance plan after being employed by Deckers for
three months. Their eligibility date will be the first day of the month following their third
month anniversary. The company pays approximately 80% of the employee s premium and a portion
of the premium for spouse and/or family coverage (this will be detailed in orientation). The
employee s and spouse/family portion is paid through the Section 125 Flexible Spending Plan,
which lowers the actual cost of the plan up to 28-35% due to pre-tax deduction through payroll. This plan allows employees to set aside money from earnings, pre-taxed for premium payments of
health and dental insurance for employees and their families; medical, dental and vision expenses
for employees and their families; and day care expenses for children up to the age of 13. The
portion of your pay that is paid to the Flexible Spending Plan is not subject to Federal, State,
or Social Security Taxes. This saves all participating employees approximately 28-35% of every
dollar spent. Employees are eligible to enroll in this plan immediately. Deckers covers cost of
administration for this plan. Deckers also offers a Life Insurance policy that provides all full-time employees with coverage
of two times their annual salary. Additional life insurance can be purchased through Met Life. Employees are eligible the first day of the month following their third month
anniversary for the following AFLAC supplemental voluntary benefits: These benefits are extremely affordable, portable (you can take them with you if you leave employment with
Deckers at the same rate) and are paid via payroll deduction (most deducted on a pre-tax basis). AFLAC provides
cash benefits directly to you to spend as you see fit for uncovered medical expenses, for everyday living
expenses, for sickness or illness-related treatments. This plan will allow you to voluntarily invest pre-tax dollars (Federal and State Taxes) towards a retirement plan.
You may join this plan the first of the month, three months from your date of hire. You may increase or decrease your
contributions at the first of each month. Employees are allowed to contribute up to $16,500 per year pre-tax (subject
to IRS Testing of all participants). Deckers will pay for administrative charges and quarterly reports for each and
every eligible employee. There is a Company contribution of $.50 per $1.00 contributed by each employee on a bi-weekly
basis, up to 6% of compensation. This match encourages all employees to join the plan. This match is vested at 100%. All full-time employees accrue vacation as follows: Vacation time should be taken during the year that it is accrued or shortly thereafter. In order to encourage you to take vacation time, you may accrue vacation time up to a
maximum numbers of hours. The maximums are as follows: All full-time employees are granted forty (40) hours worth of sick leave each January and can
accumulate throughout years of employment. For those employees who begin working for the Company
throughout the year, sick leave will be granted on a prorated basis. Sick leave is not paid upon
termination of employment. Deckers observes the following eleven legal holidays:
Deckers provides all employees with the opportunity to obtain discounted Spectrum Gym memberships. The membership allows you to use any one of the three Spectrum gyms in Santa Barbara and Goleta. The cost to the employee is $7.36 per paycheck plus a $25 set up fee. Employees will receive a discount of 30% below wholesale list price on Teva, Simple, and Tsubo shoes, and 20% below wholesale list price on UGG products. Updated June 30, 2010 |