Shoe Horned: Oakley To Leave Athletic Footwear Market

Oakley has decided to “walk away” from the athletic footwear business seven years after entering the marketplace, as the company is “refocusing its business lines to boost revenue,” according to Ronald White of the L.A. TIMES. Its top-end sneakers retailed for $100, and the decision to stop selling the footwear “will cost Oakley as much as” $5.3M. The company will continue to sell sandals, golf shoes and boots. Oakley in recent years “has diversified into backpacks, clothes and watches, but it never fared well” in the sneaker market. The company said that it will “renew its focus on eyewear this year,” as its glasses are “worn by several of the world’s top athletes.” D.A. Davidson & Co. analyst Mitch Kummetz said, “Historically Oakley has tried to be all things to all people. I think that is very difficult to do. We have seen a couple of signs that maybe they are changing, and that is a good strategy” (L.A. TIMES, 2/10).