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Explore the meteoric rise of Hoka, the popular shoe brand that went from less than 10% to nearly 40% of its parent company's revenue. Learn about Hoka's history, the great product solving a big problem, and the obsessive focus on a core audience. Discover how Hoka rose so quickly and their shift in marketing strategies.
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Quick takeaways
- Hoka's success was driven by targeting and satisfying the needs of a niche ultra running community.
- Hoka's intentional choices such as cautious market entry and collaborations with status brands positioned them as a luxury brand, differentiated from competition.
Deep dives
Lesson 1: A great product solving a big enough problem over a long enough time frame is a boring formula but the best formula for building a great business
Hoka, an oversized running shoe brand, stood out as a contrarian in 2009 when minimalist shoes were the trend. Despite initial skepticism, Hoka founders Jean-Luc Dior and Nicholas Mermoud created a shoe that provided stability and cushion for ultra runners, revolutionizing the market. Their slow and methodical approach to revenue growth allowed them to establish brand awareness and capitalize on consumer demand.
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