Ugg’s parent company, Deckers Outdoor Corp., has seen its shares fall from a high of $117 last fall to $39 last week. And considering the fact that the Ugg brand made up 87 per cent of the company’s revenue in 2011 ($1.2 billion), it’s unlikely that the drop could be attributed to one of Deckers’ less trendy footwear brands, such as Teva or Sanuk.
Sam Poser, an analyst with the U.S. investment firm, Sterne Agee, reported seeing the once highly-coveted boots on sale for the first time at discount website, BeyondtheRack.com. “It means some retailers have excess inventory,” Poser told the Wall Street Journal.
“It’s clear to us that the Ugg ‘fashion trend’ has faded.” This will be welcome news to Canadian sex symbol, Pamela Anderson, whose early endorsement of the sheepskin boots came back to haunt her when she joined PETA. And it should please podiatrists the world over, who maintain that the famously comfy boots are actually horrible for your feet. They’re also horribly ugly, according to the Facebook group, ‘Ugg boots are ugly’, which as of today, has 1,983 members and counting.