Olympia Sport Deteriorates After Abrupt Termination of Hoka Deal
Olympia Sport, one of Norway‘s leading sports retailers, is facing an uncertain future after the abrupt termination of its 14-year partnership with Hoka, a leading footwear brand. The sudden decision to end the collaboration has left the Tønsberg-based store struggling to maintain its financial stability.
End of a Decade-Long Relationship
The deal between Olympia Sport and Run, Hoka’s exclusive importer in Norway, was abruptly ended this May. Olympia Sport’s co-owner and manager, Truls Aabol, revealed that the company received a brief email from Run announcing the termination of the partnership. The email stated that Run would no longer supply Olympia Sport with Hoka shoes for the summer season.
Lack of Warning or Explanation
Aabol expressed frustration at the lack of warning or explanation from Run. He stated, "They didn’t even have the courtesy to reach out to us personally. Instead, they sent a one-line email out of the blue."
Financial Impact
The termination of the partnership has had a significant financial impact on Olympia Sport. The store has relied heavily on Hoka sales, with the brand accounting for approximately 60-70% of its annual revenue. Olympia Sport sold over 50,000 pairs of Hoka shoes last year alone.
Run’s Perspective
Run’s co-owner, Carl Jørgen Nordberg, acknowledged the termination in a statement to E24. He stated that the decision was not made lightly and that the company would not be elaborating further on the reasons behind the termination.
Olympia Sport’s Future
In response to the termination, Olympia Sport has accelerated its search for alternative brands and suppliers. The company’s future plans remain uncertain, but Aabol remains optimistic. He stated, "We’ve been in the business long enough to know how to adapt and find new opportunities."
Impact on Customers
The termination of the partnership has also raised concerns among Hoka enthusiasts in Norway. Many customers have expressed their disappointment and worry about the availability of their preferred footwear. One customer stated, "I’ve been a loyal Hoka customer for years, and I hope this doesn’t mean I’ll have to switch brands."
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