The resurgence of Crocs, analysts say, stems from a new management team and scrappy reinvention that includes collaborations with celebrities, designers, even fast-food chains, generating buzz on social media.
Record profits followed, driving Crocs shares up 300 percent since last year. The company expects another sales spurt this year, from 40 to 50 percent, to as much as $2.1 billion. A recent collaboration with singer Justin Bieber — $70 lavender Crocs adorned with chipmunk and teddy bear charms — quickly sold out.
Most recently, Crocs collaborated with DJ and producer Diplo to launch two new styles. The wild partnership with the Grammy award-winning artist, will launch two styles including a multi-tone take on the classic clog and a new classic Crocs sandal with unique Jibbitz charms.
Crocs also partnered with Balenciaga on an $850 platform clog, KFC on a $60 fried-chicken-print shoe with drumstick charms, and Disney-Pixar for a $50 homage to the “Cars” films that lights up. Questlove even used Golden Crocs to the 2021 Oscars red carpet!