<SEC-DOCUMENT>0000930413-17-004021.txt : 20171211
<SEC-HEADER>0000930413-17-004021.hdr.sgml : 20171211
<ACCEPTANCE-DATETIME>20171211144217
ACCESSION NUMBER:		0000930413-17-004021
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20171211
DATE AS OF CHANGE:		20171211
EFFECTIVENESS DATE:		20171211

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:		171249299

	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>c89896_defa14a.htm
<TEXT>
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<TITLE></TITLE>
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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>
</TABLE>
<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>
  <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 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>
  <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; ">
      (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>
  <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-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>
  <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; ">
      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>
  <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; ">
      Form, Schedule or Registration Statement No.:</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; ">
      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>
  <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; ">
      Date Filed:</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>
</TABLE>

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<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>Deckers Reminds Stockholders to Vote &ldquo;FOR&rdquo;
ALL of Deckers&rsquo; Nominees on the WHITE Proxy Card</B></P>

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

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B><I>Highlights the Strengths of Deckers
Board and Company&rsquo;s Positive Momentum</I></B></P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0;"><B>GOLETA, Calif.</B> &ndash; December 11, 2017 &ndash; Deckers
Brands (NYSE: DECK), a global leader in designing, marketing and distributing innovative footwear, apparel and accessories, urged
stockholders to vote TODAY &ldquo;FOR&rdquo; ALL of Deckers&rsquo; highly qualified, experienced nominees on the <B><U>WHITE</U></B>
proxy card.</P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0;">Deckers&rsquo; 2017 Annual Meeting of Stockholders is just a
few days away and will be held on December 14, 2017. <B>It is imperative that stockholders vote as soon as possible.</B> All stockholders&rsquo;
votes are extremely important, no matter how many shares they own.</P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0;">Deckers&rsquo; proxy statement and other important information
related to the Annual Meeting can be found on the company&rsquo;s website at <U>www.votedeckers.com</U>.</P>

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

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>VOTE &ldquo;FOR&rdquo; ALL OF DECKERS&rsquo;
NOMINEES ON THE <U>WHITE</U> PROXY CARD TODAY</B></P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0;">Deckers encourages stockholders to vote for continued value creation,
focused execution of a long-term strategic, transformation plan, and highly qualified directors with relevant experience. The best
choice for stockholders is clear: vote <B>&ldquo;FOR&rdquo;</B> ALL of Deckers&rsquo; nominees on the <B>WHITE</B> proxy card.</P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0;">Here are the facts:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 18pt">&nbsp;</TD>
    <TD STYLE="width: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&#9679;</FONT></TD>
    <TD><B>Deckers&rsquo; shares have outperformed its proxy peers over the last five years</B>. Using the
    current market price, Deckers is outperforming its proxy peers by over 35% over the last five years.<SUP>1</SUP> Our stock
    hit a fresh 52-week high of $78.38 on December 8, 2017.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&#9679;</FONT></TD>
    <TD><B>Deckers has increased gross profit margin and reduced spend</B> by improving input costs, shortening product development
    cycles, rationalizing our retail footprint, consolidating offices and controlling indirect spend. Our recent results in the
    second quarter of fiscal year 2018 demonstrate the power of our transformation, as we generated a 220 basis point increase
    in gross margin as compared to the same period last year, in addition to delivering earnings per share that were ahead of
    expectations.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&#9679;</FONT></TD>
    <TD><B>Deckers is returning capital to all stockholders</B> through our recently announced $400 million stock repurchase plan
    &ndash; the most significant in our history &ndash; which we expect to complete by year-end fiscal 2020.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&#9679;</FONT></TD>
    <TD><B>Deckers has an experienced Board</B> focused on growing stockholder value. The current Board has been a significant
    agent of change to improve Deckers&rsquo; performance and is firmly committed to continuing to evolve. To meet the needs of
    our consumers, win in the marketplace and deliver value to stockholders, the Board is seeking individuals with highly additive
    skills and relevant experience. We have retained a leading national director search firm and are actively engaged in a search
    process to identify at least two new qualified independent directors well in advance of the 2018 Annual Meeting (expected
    to be held in September 2018). Further, the Board and search firm will consider all director candidates suggested by stockholders,
    including those proposed by Marcato Capital Management LP </TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0;"><SUP>&nbsp;</SUP></P>

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


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0;"><SUP>1</SUP> &ldquo;Current&rdquo; market date reflects market
data as of 12/07/17, with five-year market performance measured against market data as of 12/07/12</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt">(&ldquo;Marcato&rdquo;). The appointment of new directors will
coincide with an equal number of retirements from the existing Board.</P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0;">In contrast, Marcato is seeking to implement risky and value-destructive
proposals at the expense of ALL Deckers stockholders. We strongly believe that Marcato&rsquo;s plan will introduce substantial
risk to your investment and will not create sustainable stockholder value.</P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0;">Do NOT allow Marcato to derail Deckers&rsquo; progress:</P>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0;">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 18pt">&nbsp;</TD>
    <TD STYLE="width: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&#9679;</FONT></TD>
    <TD><B>Marcato&rsquo;s nominees are unvetted and unqualified.</B> Marcato&rsquo;s three director nominees
    lack the relevant skills, experience and fundamental understanding of Deckers&rsquo; global, multi-brand business and the
    evolving retail industry necessary to add value. Only one has ever served on the board of a public company, and that same
    nominee is the only one with any C-level executive experience. The Deckers Board will <B>not </B>benefit from the addition
    of a retired investment banker, a retired non-luxury marketer, and a public relations consultant. If Marcato&rsquo;s nominees
    are elected, we would immediately lose the experience and guidance of our Chairman and two critical committee members with
    exceptional industry knowledge.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&#9679;</TD>
    <TD><B>Marcato insists on recklessly and rapidly closing our stores, even profitable ones</B>, which would significantly affect
    our profitability and would require substantial cash outlay. Instead, Deckers is prudently reducing store count while limiting
    unnecessary lease termination fees and preserving profitable stores. We believe that our retail stores are of critical importance
    to effectively engage with our consumers and drive e-commerce sales.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&#9679;</TD>
    <TD><B>Marcato wants to sell our non-UGG brands, </B>which provide important diversification and growth opportunities, and
    <B>implement draconian cuts</B>, which would significantly reduce profitability and endanger longer-term growth potential.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&#9679;</TD>
    <TD><B>Marcato believes Deckers should take on significant debt</B>. We firmly believe that in the current environment, Marcato&rsquo;s
    proposal exposes stockholders to excessive risk.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>TIME IS SHORT &ndash; PROTECT YOUR INVESTMENT
AND FUTURE UPSIDE BY VOTING</B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>&ldquo;FOR&rdquo; ALL OF DECKERS&rsquo;
NOMINEES <U>TODAY</U> BY TELEPHONE OR BY INTERNET TO ENSURE THAT YOUR <BR>
SHARES ARE REPRESENTED AT THE DECEMBER 14TH ANNUAL MEETING</B></P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0;">We are confident that the current Deckers Board is well positioned
to guide Deckers into the future and maximize value for all stockholders. Leading independent proxy advisory firms agree: both
Glass, Lewis &amp; Co. and Egan-Jones Ratings Company recommend that stockholders vote <B>&ldquo;FOR&rdquo;</B> ALL of Deckers&rsquo;
nominees on the <B>WHITE</B> proxy card.</P>

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

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>PLEASE VOTE THE <U>WHITE</U> PROXY CARD</B></P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0;"><B>The Deckers Board <I><U>unanimously</U></I> urges stockholders
to vote &ldquo;FOR&rdquo; ALL of Deckers&rsquo; nominees on the WHITE proxy card TODAY. </B><I><U>Discard</U></I> any Gold proxy
card materials that you may receive from Marcato. If you have already returned a Gold proxy card, you can change your vote by voting
the <U>WHITE</U> proxy card TODAY by telephone or by Internet. Only your latest-dated proxy card will be counted.</P>




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    <TD STYLE="width: 100%; border: black 1px solid; padding: 10pt 5pt">

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>THE ANNUAL MEETING IS FAST APPROACHING!</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>PLEASE VOTE TODAY BY TELEPHONE OR BY INTERNET,
        USING THE <U>WHITE</U> PROXY CARD!</B></P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 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: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>INNISFREE M&amp;A INCORPORATED</B></P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>(877) 750.0625 (from the U.S. and Canada)</B></P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">or</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>(412) 232.3651 (from other locations)</B></P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0;"><B>Remember, please simply discard any Gold proxy card you may
        receive from Marcato</B>. 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>
</TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0;"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>About Deckers Brands</B></P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 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<SUP>&reg;</SUP>, Koolaburra<SUP>&reg;</SUP>, HOKA ONE ONE<SUP>&reg;</SUP>,
Teva<SUP>&reg;</SUP> and Sanuk<SUP>&reg;</SUP>. 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: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0;">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0;"><B>Forward-Looking Statements</B></P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 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 and expectations
for future annual meetings. 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: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0;">&nbsp;</P>


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

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0;"><B>Contacts<BR>
Investors:</B></P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0;">Steve Fasching, 805-967-7611</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0;">VP, Strategy &amp; Investor Relations</P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0;">Innisfree M&amp;A Incorporated</P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0;">Arthur B. Crozier, 212-750-5833</P>

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

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0;">Joele Frank, Wilkinson Brimmer Katcher</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0;">Eric Brielmann / Amy Feng, 415-869-3950</P>

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