HOKA is betting its future on premium running shoes, not volume

Hoka's parent company, Deckers Brands, has laid out a clear picture of where it sees its running shoe business heading next, positioning road, trail and lifestyle as three distinct but increasingly connected pillars of future growth.

Speaking during Deckers Brands’ latest quarterly earnings call, the company said HOKA has “a number of exciting product updates to come” across its key priorities of “winning in road, dominating trail, and igniting lifestyle,” offering rare insight into how the brand is thinking beyond individual shoe launches.

The comments arrive just as HOKA’s road running shoe range enters a busy period, with the Cielo X1 3.0 landing as the brand’s latest top-tier racing shoe.

Deckers described it as “the fastest and lightest racing shoe HOKA has ever created,” underlining how seriously it is taking the premium end of the performance market.

Behind the scenes, the numbers suggest that the upscaling approach is paying off, with HOKA’s revenue growing 18% year-on-year in the most recent quarter.

Importantly, Deckers said the growth was achieved while maintaining high levels of full-price selling, a sign that demand remains strong even as prices rise across the running shoe market.

Road running moves upmarket

One of the more revealing data points shared on the call was HOKA’s performance in the US road-running market.

According to Deckers, the brand has gained significant market share in the category above $140, placing it firmly in the premium bracket alongside established rivals.

Rather than chasing volume at the lower end of the market, HOKA appears focused on convincing runners to spend more by doubling down on performance innovation and race-day credibility.

Trail remains a core strength

While road shoes tend to grab the headlines, Deckers was clear that trail running shoes remain a major focus.

Upcoming updates, including the next iteration of the Speedgoat, are framed as part of an effort to reinforce HOKA’s dominance off-road rather than as simple refreshes of existing models.

The company said it is now operating in a “cleaner” global marketplace than a year ago, with tighter control over inventory and product transitions.

That, combined with strong sell-through at retail, has given it confidence to push ahead with more assertive trail launches without overloading the market.

Lifestyle is no longer an afterthought

Perhaps the most telling shift is how openly Deckers now talks about lifestyle.

Rather than treating it as a side project, the company described it as a significant opportunity, driven in part by consumers already wearing performance shoes in everyday settings.

Deckers noted that performance remains at the core of the HOKA brand, but acknowledged that many of its most recognisable silhouettes have naturally crossed over into casual wear.

New lifestyle-focused products and marketing campaigns are designed to build on that behaviour without undermining HOKA’s technical credibility.

The company's latest earnings report offers a useful snapshot of where HOKA is heading in 2026 and beyond.

Road running is being pushed further into premium territory, trail remains a cornerstone, and lifestyle is increasingly treated as a legitimate growth category rather than a bolt-on.

One thing is for sure: exciting times are ahead for HOKA fans.

[via Deckers Brands]