The past year had been kind to Crocs, the Colorado-based brand that first made waves in the early 2000s but struggled to stay trendy in the years since. As quarantine-bound consumers sought out comfortable clothing and footwear, the iconic rubber clogs made a comeback.

"In 2020, it was really a break-out year for Crocs," Michelle Poole, president of Crocs, told Cheddar. "We had our most profitable year ever as a brand. We saw 50 percent growth in our digital channel, and we saw a real acceleration in demand for our Classic Clog silhouette." 

But now investors are wondering if Crocs can keep up the momentum. After its stock nearly doubled to over $80 per share in 2020, a sell-off in February pushed down the price. 

Poole said the company is confident it will continue to grow post-pandemic. 

"We're really excited about the future," she said. "We remain incredibly confident about our ability to grow and drive sustainable growth for the future."

One way it plans to do that is through collaborations with big-name celebrities, such as Justin Bieber, Post Malone, and basketball player CJ McCollum. 

"Just last week, we had our second Justin Bieber product collaboration in partnership with his own 'drew house' brand, and we saw record instant sell-outs around the globe," Poole said.  

(Indeed, this Manhattan-based reporter saw a line stretching down the block at the brand's midtown retail location last Saturday.) 

In addition to the Justin Bieber x Classic Clog, Crocs has two more new products in the pipeline, including a slightly thinner Croc with a platform heel and a new two-strap slide sandal. 

All of the above can be decorated with charms or Jibbitz, as Crocs calls them, which fit into the tiny holes that make the brand's footwear so unique. 

"What you'll see is that all of this product is a great blank canvas for self-expression," Poole said. "We introduce fresh charms to our consumers on a regular basis every month." 

Right now, the Bieber-Croc collaboration comes with a pair of white socks — a style popularized by the pop star — but with the spring and summer, Crocs is banking on customers to also embrace its sandal line with or without a cozy pair of socks. 

"Sandals is actually a $30 billion dollar addressable market for Crocs, and we've been slowly gaining market share over the last several years," Poole said. 

Share:
More In Business
A US tariff exemption for small orders ends Friday. It’s a big deal.
Low-value imports are losing their duty-free status in the U.S. this week as part of President Donald Trump's agenda for making the nation less dependent on foreign goods. A widely used customs exemption for international shipments worth $800 or less is set to end starting on Friday. Trump already ended the “de minimis” rule for inexpensive items sent from China and Hong Kong, but having to pay import taxes on small parcels from everywhere else likely will be a big change for some small businesses and online shoppers. Purchases that previously entered the U.S. without needing to clear customs will be subject to the origin country’s tariff rate, which can range from 10% to 50%.
Southwest Airlines’ new policy will affect plus-size travelers. Here’s how
Southwest Airlines will soon require plus-size travelers to pay for an extra seat in advance if they can't fit within the armrests of one seat. This change is part of several updates the airline is making. The new rule starts on Jan. 27, the same day Southwest begins assigning seats. Currently, plus-size passengers can pay for an extra seat in advance and later get a refund, or request a free extra seat at the airport. Under the new policy, refunds are still possible but not guaranteed. Southwest said in a statement it is updating policies to prepare for assigned seating next year.
Load More