Jibbitz on the red carpet… At some point in the past few years Crocs experienced a vibe shift from ugly-cringe to ugly-cool. The comfort-forward footwear brand regained relevance during the pandemic and hasn’t let its momentum slip off: Crocs’ sales rose 61% last quarter, and its annual sales have tripled since 2019. The clog-olossus expects another record year of growth as marketing investments pay off.
- Living room to runway: The brand has dipped its rounded rubbery toes into the luxury market through collabs with designers like Salehe Bembury (Versace, Yeezy). His $85 slingback Crocs can sell for hundreds of dollars on StockX.
- Crocstars: Celeb endorsements have helped the brand expand beyond its workwear roots. Musician Questlove rolls up in Crocs to awards shows like the Oscars, and Post Malone, Bad Bunny, and J. Biebs have signed endorsement deals.
Skewing younger… and more passionate. From superfans who own dozens of pairs to collectors who seek out rare collabs, the Croc life isn’t just about comfort. Growth has been fueled by Gen Zers who see the foamy shoes as a blend of comfort, nostalgia, and wearable meme (picture: KFC Crocs). Last year US teens ranked Crocs as their #5 preferred footwear brand. Zillennial-fave footwear company Hey Dude, which Crocs bought for $2.5B in 2021, moved up to #7.
Functional is still fashionable… because the comfy life is hard to leave. Pandemic thrivers like Peloton and Zoom experienced a boom thanks to necessity (think: no gym, closed office). But their stocks have plunged from those highs as demand for their products cooled. Meanwhile, Crocs stock is up 48% over the past year because people aren’t willing to give up the sweats-and-clogs life. As workers’ tight grip on remote work shows, it’s hard to sacrifice strides made in comfort.