Crocs became a pandemic staple, but CEO Andrew Rees optimistic its new fans will stick around
Some have called Crocs the "it" shoe of the pandemic, as the clog became a closet staple for consumers seeking comfort during their more casual pandemic lifestyle. "The pandemic has allowed us to reach new customers, but I think consumers are also focused on what we can offer them in the future," Crocs CEO Andrew Rees told CNBC's "Power Lunch." Rees said he remains optimistic that the brand can grow with the help of product innovations, such as introducing new sandals to its portfolio. The shoe also has a strong celebrity following, and counts Justin Bieber, Post Malone and Priyanka Chopra among its fans. Crocs said it expects revenue to rise 40% to 50% in the first quarter, and between 20% to 25% for the full year.cnbc.com
Nike taps the comfort trend with the launch of Go FlyEase, a no-lace slip-on sneaker
The "Go FlyEase" shoe is marketed as not requiring hands to put on and take off. For a slip-on shoe, Nike's version is quite unique and complex. Nike said it plans to build on the new Go FlyEase shoe's design and create more slip-on options in the future. The biggest issue with slip-on shoes, for many consumers, tends to be getting them to fit tight enough around the foot. Source: Nikecnbc.com
Post Malone is donating 10,000 of his sold out Crocs to frontline workers
FILE - This Tuesday, Dec. 31, 2019, file photo shows Post Malone performing at the Times Square New Year's Eve celebration in New York. Post Malone is the sunflower of the 2020 Billboard Music Awards. Malones nominations include top artist, top male artist, top rap artist and top streaming songs artist. Soon hardworking frontline workers will receive a free pair of the rapper’s new crocs. The new crocs were released last month and they were sold out in less than an hour.
Post Malone teams up with charity to give away 10,000 pairs of Crocs to healthcare workers
Singer Post Malone has partnered with a charity to bring 10,000 pairs of Crocs to health care workers in hospitals around the United States. The shoes are limited edition Post Malone x Crocs Duet Max Clog II, which are sold out on the Crocs website. The Crocs — the preferred shoe of many healthcare workers — will be given to frontline caregivers, housekeeping staff and other healthcare workers in various units, including COVID. "We are so grateful to Post Malone and Crocs for joining us in providing even more relief when they need it the most through this generous donation," he said. Crocs has given away shoes to healthcare workers throughout the pandemic, announcing in March a goal of donating 10,000 pairs of shoes a day for as long as they could.cbsnews.com
Crocs shares soar on raised sales outlook through 2021
Crocs shares soared Monday after the retailer raised its outlook for the fourth quarter, and said it expects sales in 2021 to accelerate as much as 25%, building on the brand's momentum during the holidays. Crocs said it expects 2020 full-year sales to grow more than 12% to a record of roughly $1.38 billion, up from a previous range calling for 5% to 7% growth. In 2021, it's calling for revenue growth of 20% to 25%. "Amidst a global pandemic in 2020, we will deliver the strongest revenue in Crocs' history," Chief Executive Andrew Rees said in a statement. Crocs shares have risen more than 53% over the past 12 months.cnbc.com
Shoppers ditched heels and loafers for slippers and Crocs during the pandemic. Could the shift to casual shoes be here to stay?
They weren’t the right look when she worked at an office downtown, testing hardware and software for audio equipment. She preferred wearing flats or heels, or boots in winter. Now that she’s working from home, the Crocs are comfortable and easy to slip on and off, said Brito, 28, of Portage Park. She was a little embarrassed to wear them in public at first but quickly got over it and now considers herself “a huge fan.”chicagotribune.com
Crocs launches ‘Free Pair for Healthcare’ program during coronavirus outbreak
JACKSONVILLE, Fla. – Heroes on the front lines in the battle against the coronavirus outbreak can get a free pair of shoes from Crocs. It’s a new program called “A Free Pair for Healthcare.”Individual healthcare workers can go to Crocs.com to place their free order of classic Crocs or Crocs at work. Shipping is free, too. The website opens for requests each day at noon ET and stays open until that day’s allotment has been fulfilled. Crocs is also donating up to 100,000 pairs of shoes to be distributed to employees at select healthcare facilities and organizations.
Teen shoppers are not as 'fickle' with brands as you think, Crocs CEO says
It may be an internet world where memes are here today, gone tomorrow, but teen shoppers are actually loyal to products and brands, Crocs CEO Andrew Rees told CNBC on Wednesday. Teens, apparently, are not just sticking with Crocs but more and more are choosing to wear them. Crocs ranked as the seventh most popular footwear brand among teens this fall, its highest ranking ever, according to Piper Jaffray's autumn survey. Shares of Crocs are up well over 400% since Rees became the company's CEO in June 2017, after about three years as president. But Crocs also is seeing growth among its more traditional, and less trendy, versions of its shoes such as its "Crocs At Work" line.cnbc.com
Crocs have a new high heel shoe and people don't know how to feel about it
But the internet almost lost its mind earlier this week when the company unveiled its newest shoe, a simple high heel with a strap. Cosmopolitan wrote about the pink pumps and asked to "make it stop," while Teen Vogue called them "pretty cute." The jury is still out, but we're leaning with Teen Vogue on this one. Funnily enough, this isn't the first time that Crocs has made a high heel or that Balenciaga has made a Crocs-inspired shoe. Would you purchase Crocs high heel shoes, or just stick with a classic pump?