Crocs just announced that it will launch this year “October“Celebrate with a pair of classic Crocs cowboy boots complete with a set of rotating spurs and built on a classic Cros hoof base. Officially discontinued Monday, October 23, the company responds to customer demand for a pair of boots .
“Croc Day was born from our fans, so we couldn’t think of a better way to celebrate them than by bringing their ideas to life not just for one day, but all month long. At Crocs, we support our fans! ” Heidi Cooley, Crocs’ chief marketing officer, said in a statement.
The price to acquire a pair has not been announced, but the limited-time issue is sure to be a sell-out for its fans and collectors. They will be available on the company’s website and in select retail stores.
Beauty in the eye of the beholder
Many would disagree as Crocs offers performance and comfort beneath an ugly exterior at an affordable price. This has made the brand a favorite among medical professionals, chefs, and anyone who spends a lot of time on their feet.
Despite the detractors, the Crocs fan base has continued to grow thanks to its comfort performance proven by everyone who tries them and at an average price of around $50, this gives a lot of people a chance. And its ugliness has become a point of distinction, especially among younger people who can personalize their pair with Jibbitz charms.
For the next generation, Crocs have become “an expressive statement, not just a practical shoe,” said Lucy Thornley, global vice president of trends at Crocs. To raise its expressive profile, Thornley has attracted renowned designers and luxury brands, including Christopher Kane, Viviene Tam, Salehe Bembury of Versace, Balenciaga, Liberty London, Bad Bunny and many more.
Crocs has also partnered with popular shoe and Jibbitz brands including Disney, Star Wars, Nickelodeon, Harry Potter, Marvel, Hello Kitty, Minecraft and the NBA. She achieves this by staying in touch with current trends, such as releasing a Barbiecore collection in time for the barbie film launch.
“I always thought Crocs was more than a product: it was an emotion and a feeling,” Thornley told Vogue. “What our partners have always told us is that we don’t take ourselves too seriously: we’re always ready to do something different.
Shoppers reward brands that always offer them something different to see in store and this is even more true for younger shoppers with their notoriously short attention spans.
This places the Crocs sixth in the standings. Piper Sandler’s Spring 2023 Teen Survey, with sister sneaker brand Hey Dude at number eight. Both brands have grown by around 25 billion year over year. Only NikeNKEConverse, Adidas, Vans and New Balance are above them.
Kiss the frog
The fangs just came out of a second district with revenues exceeding $1 billion, up 12% at constant exchange rates from the same period last year. Adjusted operating income increased about the same, reaching $325 million. And direct-to-consumer sales increased 26% online and around the company. 340 stores worldwide.
Year to date, the picture is even better, with revenues of just under $2 billion, up 20% from $1.6 billion, and net income up by 55%, from $233 million to $362 million. And despite the economic woes, the company raised its year-end forecast by 11 to 14 percent, then 12.5 to 14.5 percent, to more than $4 billion.
The Crocs brand accounts for about 80% of the company’s revenue, with sales up 15% in the second quarter to $833 million. And the company expects to end the year growing 12% to 14%. He expects stronger growth, in the range of 14 to 18 percent, for the Hey Dude brand, which generated $239 million in revenue in the second quarter.
Globally, the Asia-Pacific region led growth, with the Crocs brand exploding there, growing 45% on a like-for-like basis to $338 million. And it builds on the local market with collaborations with Bai Jingting, Zhou Yutong, Melting Sadness and Labelhood.
North America also performed well, up 12% to $8,256 million, with new releases from Taco Bell, Satisfy and Salehe Bembury and three new clog silhouettes, including a heeled clog.
Crocs succeeds today and will succeed tomorrow by sticking to its five core values that are exactly what the world needs:
- Deliciously democraticuniting the unique to all genres
- People-centered design that supports each person’s next step
- Inherent simplicity it’s simple and intuitive
- Imaginative innovationextending the design from a proven core
- Shameless optimism, I always look on the bright side
- Comfortable with confidence because “when you are comfortable, you can do anything”.
From shame to glory
After listing Crocs in its “hall of shame” as one of the world’s worst inventions in 2010, Time magazine reversed course and named it the Time100. Most influential companies in 2023.
The company holds no hard feelings, as it stated on LinkedIn announcing the honor:
“Thank you, TIME, for the incredible recognition among the companies shaping the future. After a fifth consecutive year of revenue growth, we have proven we have mass appeal by winning with consumers and providing them with what they want.
“As we continue to be a leading innovator in the footwear market, we remain committed to providing incredibly comfortable and stylish shoes at democratic prices to millions of people around the world every year. »
The legion of Crocs fans growing by the day would agree.