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· Posted on
February 21, 2024

Ugly is in the eye of the beholder: Why Crocs keep crushing sales expectations

Today, cringe is cool because Crocs keeps on crushing sales expectations.

What's the key learning?

  • Crocs is expecting another record year of growth, has been expanding into the luxury market, and has tons of celebrity endorsements.
  • Growth has been fueled by Gen Zers who see Crocs as a blend of comfort, fashion, and wearable pop culture.
  • Crocs stock is up 48% over the past year.

👉 Background: While Crocs have been around back in 2002, many consumers re-discovered  Crocs during the pandemic. Many other companies that thrived during quarantine have seen sales normalise, sales of Crocs are up nearly 200 percent since 2019.

👉 What happened: Now, Crocs’ sales increased 61% in the last quarter and its annual sales. Best of all, Crocs expects another record year of growth.

👉 What else: But it ain't just a regular shoe anymore. Crocs has been expanding into the luxury market - not to mention the celeb endorsements from Questlove, Post Malone, Bad Bunny, and J. Biebs.

What's the key learning?

💡Today, cringe is cool, Growth has been fueled by Gen Zers who see Crocs as a blend of comfort, fashion and wearable pop culture. Last year US teens ranked Crocs as their #5 preferred footwear brand.

💡 While pandemic thrivers like Peloton and Zoom experienced a boom thanks to necessity (think: no gym, closed office), their stocks have plunged from those highs.

💡 Meanwhile, Crocs stock is up 48% over the past year. That’s why cringe is cool for both zillenials... and investors.

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