Doug Otto | |
|---|---|
| Born | Douglas B. Otto 1951 (age 72–73) |
| Education | University of California, Santa Barbara (B.A. 1973) |
| Occupation | Business executive |
| Years active | 1973–2008 |
| Employer | Deckers Outdoor Corporation |
| Board member of | The Whale Beach Foundation |
| Spouse | Rita Otto |
| Children | 3 |
Douglas B. Otto (born 1951) is a business executive who co-founded Deckers Outdoor Corporation whose portfolio includes the UGG Australia brand.
Early life and education
Otto was born in 1951 to two high school educators.[1] He attended and graduated from the University of California, Santa Barbara with a B.A. in business economics in 1973.[1][2]
Deckers Outdoor Corporation
While at UCSB in 1973, Otto began producing sandals with classmate Karl F. Lopker.[3][4][5]
He really invented the modern flip-flop we know today, the neoprene rubber with parachute webbing. They were called Deckers.
–Angel Martinez, Deckers President and CEO[6]
The duo, with Otto handling sales and distribution while Lopker oversaw manufacturing, based the company on durable, long-lasting sandals which catered to the surf community.[7] After buying out Lopker in 1982, Otto decided to license and manufacture other companies' product which resulted in a 1985 agreement with Teva.[7]
Deckers went public in October 1993[8] and in 1995 acquired UGG Australia. The move, engineered by Otto, has been described as a "... brilliant and lucrative business maneuver..."[7] and "one of the great success stories within the consumer category."[9] The UGG brand, with Deckers, gained market traction slowly, but after an Oprah Winfrey feature on a "Favorite Things show sales and popularity increased dramatically.[9] UGGs soon became a fashion trend ingrained in popular culture with celebrities such as Kate Moss,[9] Katy Perry, Gisele Bündchen, and Sarah Michelle Gellar all wearing the brand as well as being shown on Sex and the City.[9]
Otto retired from Deckers in 2008,[2] but revenue continued to climb and first hit $1 billion US dollars in 2010.[10]
Personal life
Doug Otto is married to Rita Otto and has three children.[1] He is currently the President and Chairman of the Board for The Whale Beach Foundation, roles he has held since 1994.[1] He was honored by UC Santa Barbara in 2009 with its "Distinguished Alumni" award, joining his Deckers Corporation co-founder Karl Lopker who was a 1998 honoree.[11]
References
- 1 2 3 4 "2009 Babson Forum Doug Otto Biography". Babson Entrepreneurship Forum. Retrieved October 22, 2014.
- 1 2 Jervis, Laurie (March 25, 2009). "Decker's Founder to Speak at SBCC". Noozhawk. Retrieved October 22, 2014.
- ↑ "Deckers Outdoor Corporation". Bren School of Environmental Science & Management. 2009. Retrieved October 22, 2014.
- ↑ Olsen, Patricia R. (January 23, 2010). "The Joy of a Family Shop". The New York Times. New York City, New York. Retrieved October 22, 2014.
- ↑ Leff, Lisa (February 16, 1997). "Money, Fame And Family". Los Angeles Times. Los Angeles, California. Retrieved October 22, 2014.
- ↑ Kacik, Alex (December 7, 2011). "Deckers Outdoor Corp. Breaks Ground on New Headquarters in Goleta". Noozhawk. Retrieved October 22, 2014.
- 1 2 3 Stewart, Ethan (December 8, 2011). "Diamonds on the Soles of Their Shoes". Santa Barbara Independent. Archived from the original on October 21, 2014. Retrieved October 22, 2014.
- ↑ Adelson, Andrea (February 7, 1995). "Market Place; Deckers makes a hot-selling sandal, but Wall St. remains cool". The New York Times. New York City, New York. Retrieved October 22, 2014.
- 1 2 3 4 Conley, Lucas (September 9, 2010). "The Golden Fleece". The Wall Street Journal. New York City, New York. Retrieved October 22, 2014.
- ↑ "Deckers Outdoor Corporation Revenue & Earnings Per Share (EPS)". NASDAQ. Retrieved October 22, 2014.
- ↑ "Distinguished Alumni Award". UC Santa Barbara Alumni Association. Archived from the original on March 19, 2015. Retrieved October 22, 2014.