<SEC-DOCUMENT>0000930413-17-003786.txt : 20171115
<SEC-HEADER>0000930413-17-003786.hdr.sgml : 20171115
<ACCEPTANCE-DATETIME>20171115161944
ACCESSION NUMBER:		0000930413-17-003786
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20171115
DATE AS OF CHANGE:		20171115
EFFECTIVENESS DATE:		20171115

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DECKERS OUTDOOR CORP
		CENTRAL INDEX KEY:			0000910521
		STANDARD INDUSTRIAL CLASSIFICATION:	RUBBER & PLASTICS FOOTWEAR [3021]
		IRS NUMBER:				953015862
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36436
		FILM NUMBER:		171205407

	BUSINESS ADDRESS:	
		STREET 1:		250 COROMAR DRIVE
		CITY:			GOLETA
		STATE:			CA
		ZIP:			93117
		BUSINESS PHONE:		8059677611

	MAIL ADDRESS:	
		STREET 1:		250 COROMAR DRIVE
		CITY:			GOLETA
		STATE:			CA
		ZIP:			93117

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DECKERS FOOTWEAR CORP
		DATE OF NAME CHANGE:	19930811
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>c89742_defa14a.htm
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<P align="center" style="margin:2.1mm 0 0; "><FONT style="font-family:sans-serif; font-size:4.5mm; "><B>UNITED STATES<br>SECURITIES AND EXCHANGE COMMISSION<br>Washington, D.C. 20549</B></FONT></P>
<P align="center" style="margin:6.3mm 0 0; "><FONT style="font-family:sans-serif; font-size:6.6mm; "><B>SCHEDULE 14A</B></FONT></P>
<P align="center" style="margin:6.3mm 0 0; "><FONT style="font-family:sans-serif; font-size:4.5mm; "><B>Proxy Statement Pursuant to Section 14(a) of<br>the Securities Exchange Act of 1934 (Amendment No. )</B></FONT></P>
<P align="center" style="text-indent:7mm; margin:8.4mm 0 0; "><FONT style="font-family:sans-serif; font-size:3.8mm; ">Filed by the Registrant <font face="Wingdings">x</font></FONT></P>
<P align="center" style="text-indent:7mm; margin:2.1mm 0 0; "><FONT style="font-family:sans-serif; font-size:3.8mm; ">Filed by a Party other than the Registrant <font face="Wingdings">o</font></FONT></P>
<P style="margin:2.1mm 0 0; "><FONT style="font-family:sans-serif; font-size:3.8mm; ">Check the appropriate box:</FONT></P>
<TABLE cellspacing=0 cellpadding=0 style="margin-left:0.00%; margin-right:0.00%; width:100.00%;" >
  <TR valign="bottom">
    <TD style="width:2.63%;"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:95.19%;"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
  </TR>
  <TR valign="bottom">
    <TD><P><FONT style="font-family:sans-serif; font-size:3.8mm; ">
      <font face="Wingdings">o</font></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="text-indent:-3.5mm; margin:0 0 0 3.5mm; "><FONT style="font-family:sans-serif; font-size:3.8mm; ">Preliminary Proxy Statement</FONT></P></TD>
  </TR>
  <TR valign="bottom">
    <TD><P><FONT style="font-family:sans-serif; font-size:3.8mm; ">
      <font face="Wingdings">o</font></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="text-indent:-3.5mm; margin:0 0 0 3.5mm; "><FONT style="font-family:sans-serif; font-size:3.8mm; "><B>Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</B></FONT></P></TD>
  </TR>
  <TR valign="bottom">
    <TD><P><FONT style="font-family:sans-serif; font-size:3.8mm; ">
      <font face="Wingdings">o</font></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="text-indent:-3.5mm; margin:0 0 0 3.5mm; "><FONT style="font-family:sans-serif; font-size:3.8mm; ">Definitive Proxy Statement</FONT></P></TD>
  </TR>
  <TR valign="bottom">
    <TD><P><FONT style="font-family:sans-serif; font-size:3.8mm; ">
      <font face="Wingdings">x</font></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="text-indent:-3.5mm; margin:0 0 0 3.5mm; "><FONT style="font-family:sans-serif; font-size:3.8mm; ">Definitive Additional Materials</FONT></P></TD>
  </TR>
  <TR valign="bottom">
    <TD><P><FONT style="font-family:sans-serif; font-size:3.8mm; ">
      <font face="Wingdings">o</font></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="text-indent:-3.5mm; margin:0 0 0 3.5mm; "><FONT style="font-family:sans-serif; font-size:3.8mm; ">Soliciting Material under &sect;240.14a-12</FONT></P></TD>
  </TR>
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<P align="center" style="margin:6.3mm 0 0; "><FONT style="font-family:sans-serif; font-size:6.6mm; "><B>DECKERS OUTDOOR CORPORATION</B></FONT></P>
<P align="center" style="margin:2.1mm 0 0; "><FONT style="font-family:sans-serif; font-size:3.8mm; ">(Name of Registrant as Specified In Its Charter)</FONT></P>
<P align="center" style="margin:2.1mm 0 0; "><FONT style="font-family:sans-serif; font-size:3.8mm; ">(Name of Person(s) Filing Proxy Statement, if other than the Registrant)</FONT></P>
<P style="margin:2.1mm 0 0; "><FONT style="font-family:sans-serif; font-size:3.8mm; ">Payment of Filing Fee (Check the appropriate box):</FONT></P>
<TABLE cellspacing=0 cellpadding=0 style="margin-left:0.00%; margin-right:0.00%; width:100.00%;" >
  <TR valign="top">
    <TD style="width:2.63%;"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%;"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:91.11%;"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
  </TR>
  <TR valign="top">
    <TD><P><FONT style="font-family:sans-serif; font-size:3.8mm; ">
      <font face="Wingdings">x</font></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="3"><P><FONT style="font-family:sans-serif; font-size:3.8mm; ">
      No fee required.</FONT></P></TD>
  </TR>
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    <TD><P><FONT style="font-family:sans-serif; font-size:3.8mm; ">
      <font face="Wingdings">o</font></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="3"><P><FONT style="font-family:sans-serif; font-size:3.8mm; ">
      Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD><P><FONT style="font-family:sans-serif; font-size:3.8mm; ">
      (1)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD><P><FONT style="font-family:sans-serif; font-size:3.8mm; ">
      Title of each class of securities to which transaction applies:</FONT></P></TD>
  </TR>
  <TR valign="top" style="font-size:0.2mm">
    <TD colspan="3">&nbsp;</TD>
    <TD width="3"><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
    <TD align="center" style="border-top:solid .27mm Black; "><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
  </TR>
  <TR valign="top">
    <TD><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD><P><FONT style="font-family:sans-serif; font-size:3.8mm; ">
      (2)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD><P><FONT style="font-family:sans-serif; font-size:3.8mm; ">
      Aggregate number of securities to which transaction applies:</FONT></P></TD>
  </TR>
  <TR valign="top" style="font-size:0.2mm">
    <TD colspan="3">&nbsp;</TD>
    <TD width="3"><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
    <TD align="center" style="border-top:solid .27mm Black; "><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
  </TR>
  <TR valign="top">
    <TD><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD><P><FONT style="font-family:sans-serif; font-size:3.8mm; ">
      (3)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD><P><FONT style="font-family:sans-serif; font-size:3.8mm; ">
      Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined):</FONT></P></TD>
  </TR>
  <TR valign="top" style="font-size:0.2mm">
    <TD colspan="3">&nbsp;</TD>
    <TD width="3"><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
    <TD align="center" style="border-top:solid .27mm Black; "><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
  </TR>
  <TR valign="top">
    <TD><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD><P><FONT style="font-family:sans-serif; font-size:3.8mm; ">
      (4)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD><P><FONT style="font-family:sans-serif; font-size:3.8mm; ">
      Proposed maximum aggregate value of transaction:</FONT></P></TD>
  </TR>
  <TR valign="top" style="font-size:0.2mm">
    <TD colspan="3">&nbsp;</TD>
    <TD width="3"><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
    <TD align="center" style="border-top:solid .27mm Black; "><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
  </TR>
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    <TD><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD><P><FONT style="font-family:sans-serif; font-size:3.8mm; ">
      (5)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD><P><FONT style="font-family:sans-serif; font-size:3.8mm; ">
      Total fee paid:</FONT></P></TD>
  </TR>
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    <TD colspan="3">&nbsp;</TD>
    <TD width="3"><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
    <TD align="center" style="border-top:solid .27mm Black; "><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
  </TR>
  <TR valign="top">
    <TD><P><FONT style="font-family:sans-serif; font-size:3.8mm; ">
      <font face="Wingdings">o</font></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="3"><P><FONT style="font-family:sans-serif; font-size:3.8mm; ">
      Fee paid previously with preliminary materials.</FONT></P></TD>
  </TR>
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    <TD><P><FONT style="font-family:sans-serif; font-size:3.8mm; ">
      <font face="Wingdings">o</font></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="3"><P><FONT style="font-family:sans-serif; font-size:3.8mm; ">
      Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD><P><FONT style="font-family:sans-serif; font-size:3.8mm; ">
      (1)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD><P><FONT style="font-family:sans-serif; font-size:3.8mm; ">
      Amount Previously Paid:</FONT></P></TD>
  </TR>
  <TR valign="top" style="font-size:0.2mm">
    <TD colspan="3">&nbsp;</TD>
    <TD width="3"><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
    <TD align="center" style="border-top:solid .27mm Black; "><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
  </TR>
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    <TD><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD><P><FONT style="font-family:sans-serif; font-size:3.8mm; ">
      (2)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD><P><FONT style="font-family:sans-serif; font-size:3.8mm; ">
      Form, Schedule or Registration Statement No.:</FONT></P></TD>
  </TR>
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    <TD colspan="3">&nbsp;</TD>
    <TD width="3"><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
    <TD align="center" style="border-top:solid .27mm Black; "><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
  </TR>
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    <TD><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD><P><FONT style="font-family:sans-serif; font-size:3.8mm; ">
      (3)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD><P><FONT style="font-family:sans-serif; font-size:3.8mm; ">
      Filing Party:</FONT></P></TD>
  </TR>
  <TR valign="top" style="font-size:0.2mm">
    <TD colspan="3">&nbsp;</TD>
    <TD width="3"><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
    <TD align="center" style="border-top:solid .27mm Black; "><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
  </TR>
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    <TD><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD><P><FONT style="font-family:sans-serif; font-size:3.8mm; ">
      (4)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD><P><FONT style="font-family:sans-serif; font-size:3.8mm; ">
      Date Filed:</FONT></P></TD>
  </TR>
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    <TD colspan="3">&nbsp;</TD>
    <TD width="3"><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
    <TD align="center" style="border-top:solid .27mm Black; "><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
  </TR>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>



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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Deckers Brands Files Investor Presentation
Highlighting Progress of Transformation and Board Strength</B></P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><I>&nbsp;</I></P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><I>Deckers&rsquo; Stock Price Has Outperformed
Its Peer Group </I></P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><I>&nbsp;</I></P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><I>Recent Strong Earnings Results Demonstrate
Successful Execution of Transformation Strategy</I></P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><I>&nbsp;</I></P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><I>Deckers Underscores Strength and
Experience of Board in Overseeing Transformation</I></P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><I>&nbsp;</I></P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><I>Urges Stockholders to Vote &ldquo;<B>FOR</B>&rdquo;
All of Deckers&rsquo; Highly Qualified Director Nominees on the <B>WHITE</B> Proxy Card <B>TODAY</B></I></P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0">GOLETA, Calif. &ndash; November 15, 2017 &ndash; Deckers
Brands (NYSE: DECK), a global leader in designing, marketing and distributing innovative footwear, apparel and accessories, today
filed an investor presentation in connection with Deckers&rsquo; upcoming 2017 Annual Meeting of Stockholders to be held on December
14, 2017.</P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0">The presentation and other important information related
to the annual meeting can be found on Deckers&rsquo; website at <U>www.votedeckers.com</U>.</P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0">Highlights of the Deckers presentation include:</P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0"><B>Deckers&rsquo; Board and management team are driving
results:</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD>Deckers&rsquo; stock performance has significantly outperformed its proxy peers, with gains of approximately 143% over the
past two years, compared to approximately 85% for its proxy peers.<A HREF="#note_ftn1" NAME="note_ftnref1" STYLE="font-size: 65%; vertical-align: 35%">1</A></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD>Non-GAAP EBIT has significantly expanded and revenue has grown in fiscal year 2018, even while turning off unprofitable streams
(e.g., retail closures and wholesale account rationalization).</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD>Deckers expects its strategic initiatives to lead to an increase of 380 basis points in operating profit margin from fiscal
year 2017 to fiscal year 2020.</TD></TR></TABLE>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0"><B>Deckers&rsquo; Board and management team are executing
on a marketplace transformation focused on:</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD>Delivering a premium brand experience to the consumer, elevating the UGG brand to drive sales, implementing a multi-season
and multi-brand product strategy with a broader lifestyle offering, positioning all brands for sustained growth, exploiting the
Hoka One One brand, and growing internationally.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD>Evolving the organization to address the changing marketplace by merging office and brand groups to facilitate better collaboration,
creating greater efficiencies in our supply chain, and enhancing our leadership team at the corporate and brand level.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD>Increasing operating profits by right-sizing the retail store fleet, further reducing development time, optimizing material
usage, and leveraging previous investments and corporate best practices.</TD></TR></TABLE>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<HR ALIGN="LEFT" SIZE="1" STYLE="width: 33%">

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0; background-color: white"><SUP>1</SUP><FONT STYLE="font-size: 8pt">Returns
represent nominal percentage gain based on comparing stock price on October 27, 2017 vs. October 27, 2016 and October 27, 2015,
respectively; peer group average represents arithmetic mean. Deckers Proxy Peer Group includes The Buckle, Inc., Carter&rsquo;s,
Inc., Chico's FAS, Inc., Columbia Sportswear Company, Crocs, Inc., DSW Inc., Express, Inc., The Finish Line, Inc., Fossil Group,
Inc., G-III Apparel Group, Ltd., Guess?, Inc., Lululemon Athletica Inc., Oxford Industries, Inc., RH, Skechers U.S.A., Inc., Steven
Madden, Ltd., Under Armour, Inc., and Wolverine World Wide, Inc.; does not include Kate Spade &amp; Company (acquired by Tapestry,
Inc., formerly known as Coach, Inc.) as it is no longer publicly traded.</FONT></P><!-- Field: Page; Sequence: 1 -->
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<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0"><B>The Deckers Board, a unique composite of experienced
and engaged individuals, is committed to enhancing stockholder value and is actively overseeing our transformation:</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD>Deckers&rsquo; directors bring the right set of skills and experience to define Deckers&rsquo; corporate strategy, with seven
of nine directors being current or former CEOs, CFOs, COOs or Chief Administrative Officers of major public companies.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD>The Board undergoes a rigorous annual self-evaluation process to ensure that it has the most effective composition for creating
and sustaining stockholder value.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD>The Board authorized the hiring of a third-party consultant to explore cost savings opportunities in 2016, and recently completed
a comprehensive review of strategic alternatives. In October 2017, the Board announced a $400 million stock repurchase program,
and is targeting $100 million of repurchases by the end of March 2018.</TD></TR></TABLE>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0"><B>In contrast, Marcato&rsquo;s proposals are not in the
best interest of Deckers&rsquo; stockholders and pose a serious threat to stockholder value. For example, Marcato:</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD>Nominated a slate of unqualified and unvetted director candidates, most of which have never before served on a public board
of directors and many of whom have no C-level executive experience.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD>Proposes a drastic reduction in store count, which would require a significant cash outlay and result in the loss of profitable
stores. These actions would run counter to Deckers&rsquo; omni-channel strategy, which positions the company closer to the consumer
and seeks to elevate the brand experience.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD>Suggests that Deckers should divest its non-UGG brands. Marcato&rsquo;s lack of understanding of Deckers&rsquo; business model
would return the company to a more seasonal business that is entirely dependent on UGG, just as non-UGG brand profits are improving.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD>Recommends a cost savings plan that offers no pathway for growth, and that would require significant store closures. It also
returns Deckers to dependence on wholesalers and distributors whose own business model is under significant pressure.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD>Supports a short-sighted and inherently risky increase in leverage, which would make it more difficult to handle short-term
headwinds to the business.</TD></TR></TABLE>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0">Deckers&rsquo; Board of Directors <B>unanimously</B> recommends
that stockholders vote &ldquo;<B>FOR</B>&rdquo; <B>ALL</B> of Deckers&rsquo; nominees listed on the <B>WHITE</B> proxy card.</P>


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<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


<TABLE align=center CELLPADDING="0" STYLE="border:1px solid #000000" CELLSPACING="0" STYLE="width: 90%">
<TR>
    <TD>
        <P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>PROTECT YOUR INVESTMENT!</B></P>
        <P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>PLEASE VOTE TODAY ON THE WHITE PROXY
        CARD!</B></P>
        <P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">If you have questions, need assistance
        in voting your shares, or wish to change a prior vote, please contact:</P>
        <P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>INNISFREE M&amp;A INCORPORATED</B></P>
        <P STYLE="font: 11pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">Stockholders Call Toll-Free:</P>
        <P STYLE="font: 11pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>(877) 750.0625 (from the U.S. and Canada)</B></P>
        <P STYLE="font: 11pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">or</P>
        <P STYLE="font: 11pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>(412) 232.3651 (from other locations)</B></P>
        <P STYLE="font: 9pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">Remember, please simply discard any Gold
        proxy card you may receive from Marcato. Your Board does not endorse any of Marcato&rsquo;s nominees and we urge you to NOT submit
        any proxy using Marcato&rsquo;s gold proxy card, even as a protest vote. A withhold vote on Marcato&rsquo;s Gold proxy card will
        revoke any earlier proxy that you have submitted to Deckers.</P>
        <P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;<B>&nbsp;</B></P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0"><B>About Deckers Brands</B></P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0">Deckers Brands is a global leader in designing, marketing
and distributing innovative footwear, apparel and accessories developed for both everyday casual lifestyle use and high performance
activities. The Company&rsquo;s portfolio of brands includes UGG&reg;, Koolaburra&reg;, HOKA ONE ONE&reg;, Teva&reg; and Sanuk&reg;.
Deckers Brands products are sold in more than 50 countries and territories through select department and specialty stores, Company-owned
and operated retail stores, and select online stores, including Company-owned websites. Deckers Brands has a 40-year history of
building niche footwear brands into lifestyle market leaders attracting millions of loyal consumers globally. For more information,
please visit <U>www.deckers.com</U>.</P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0"><B>Forward-Looking Statements</B></P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0">This press release contains &ldquo;forward-looking statements&rdquo;
within the meaning of the federal securities laws, which statements are subject to considerable risks and uncertainties. These
forward-looking statements are intended to qualify for the safe harbor from liability established by the Private Securities Litigation
Reform Act of 1995. Forward-looking statements include all statements other than statements of historical fact contained in this
press release, including statements regarding Deckers&rsquo; future strategies and cost-reduction initiatives. Deckers has attempted
to identify forward-looking statements by using words such as &ldquo;anticipate,&rdquo; &ldquo;believe,&rdquo; &ldquo;could,&rdquo;
&ldquo;estimate,&rdquo; &ldquo;expect,&rdquo; &ldquo;intend,&rdquo; &ldquo;may,&rdquo; &ldquo;plan,&rdquo; &ldquo;predict,&rdquo;
&ldquo;project,&rdquo; &ldquo;should,&rdquo; &ldquo;will,&rdquo; or &ldquo;would,&rdquo; and similar expressions or the negative
of these expressions.</P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0">Forward-looking statements represent management&rsquo;s
current expectations and predictions about trends affecting Deckers&rsquo; business and industry and are based on information available
as of the time </P>

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<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0">such statements are made. Although Deckers does not make forward-looking statements unless it believes that it has
a reasonable basis for doing so, Deckers cannot guarantee their accuracy or completeness. Forward-looking statements involve numerous
known and unknown risks, uncertainties and other factors that may cause its actual results, performance or achievements to be materially
different from any future results, performance or achievements predicted, assumed or implied by the forward-looking statements.
Some of the risks and uncertainties that may cause Deckers&rsquo; actual results to materially differ from those expressed or implied
by these forward-looking statements are described in the section entitled &ldquo;Risk Factors&rdquo; in Decker&rsquo;s Annual Report
on Form 10-K for the fiscal year ended March 31, 2017, as well as in its other filings with the Securities and Exchange Commission.</P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0">Except as required by applicable law or the listing rules
of the New York Stock Exchange, Deckers expressly disclaims any intent or obligation to update any forward-looking statements,
or to update the reasons that actual results could differ materially from those expressed or implied by these forward-looking statements,
whether to conform such statements to actual results or changes in Deckers&rsquo; expectations, or as a result of the availability
of new information.</P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0"><B>Investors:</B></P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0">Deckers Brands</P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0">Steve Fasching, 805-967-7611</P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0">VP, Strategy &amp; Investor Relations</P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0">or</P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0">Innisfree M&amp;A Incorporated</P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0">Arthur B. Crozier, 212-750-5833</P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0">or</P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0"><B>Media:</B></P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0">Joele Frank, Wilkinson Brimmer Katcher</P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0">Eric Brielmann / Amy Feng, 415-869-3950</P>



<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

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