Foam party
Crocs are still in growth mode. The company, known for its foam footwear, capitalized on its recent success earlier this year, acquiring shoe brand Hey Dude for some $2.5bn. Under the Crocs corporate umbrella, Hey Dude is now itself looking to open a new 730,000 sq ft distribution center in Las Vegas.
Although not a mainstream brand, Hey Dude has a quiet legion of fans, and crucially, many of those fans are young. In a biannual survey of US teens, Hey Dude ranked among teens' top 10 favorite shoe brands for the second year running — making them the perfect addition to the original Crocs line-up, which remains a Gen Z favorite. Indeed, Crocs has a 60% approval rating amongst Gen Zers, some 13% above the millennial market rate according to Morning Consult.
A Gen Z shoe empire
As we head into Croctober, when the brand will celebrate its 20th birthday, the sandal sellers are likely planning how to continue to scale Hey Dude — luckily they have a blueprint. Crocs became a veritable fashion statement after collaborations with Bieber, Balenciaga, Bad Bunny and others. Jibbitz gave comfort-seeking clog wearers the ability to customize their Crocs with charms (they also weren't cheap). Crocs, once the butt of many jokes, are quietly building a Gen Z shoe empire.
Related reading: Websites, apps, and tasty snacks — report reveals Gen Z’s favorite brands.
