Crocs Sales Have Grown Exponentially With A Comeback In Fashion

 

 

Image Credit – BBC

 

Yes, nobody would believe it but it has happened! Questlove, the musical director of The Academy Awards appeared on the red carpet of Oscars, wearing a pair of gold-painted crocs.

Whether you love them or not, crocs are really making a comeback in fashion with significant progress in its business.

On Tuesday, it was announced that the company has faced record sales in just three months of this year and created a better prospect to raise its revenue for 2021.

The sales have increased up to 64% in the first quarter of this year compared to last year’s. It rose up to $460m (£331m) which is a huge hit for the company.

Pre-tax profit grew to $122.5m from $18.7m, considering the time between January and March than the last year.

Andrew Rees, Crocs’ chief executive is expecting a sales hike up to 50% this year which nearly double last year’s sales which grew only 25%.

Me. Rees further said that the demand for crocs is being “stronger than ever” around the globe.

Some people are addressing crocs as the ‘It-shoe’ in the time of the global pandemic. It is because the lifestyle and working habits have changed and people tend to wear pair of comfy clogs other than anything.

However, this US-based company is already boosting its popularity around the world by working with famous celebrities and pop stars.

Previously, this brand has collaborated with rapper Post Malone for its promotion. The rapper designed his own shoes with a slight influence of Swiss cheese.

The company has also collaborated with Justin Briber and Latin pop icon Bad Bunny. In both cases, the crocs got sold out in just minutes.

This brand is focusing on its digital marketing and sales which has grown up to 75.3% in the first quarter of this year. It made a third of the total sales that occurred in this period.

Experts are saying, the company’s strategy of including social media promotion is making the change here. With the campaign, #crocs have gained more than 1.6 billion views on TikTok only.

The so-called influencers and users of the application could be seen dancing around with their crocs and showing people how it has improved their style of footwear and fashion sense.

Looking forward to more success, the brand is planning to bring more designs and sandals in order to provide customers diversity.

Crocs have introduced their “Jibbitz” shoe charms for the customers to give priority to everyone’s individual choices. Customization of shoes allows the loyal fanatics to design and decorate with a personal approach, making it a dear belonging for all.

The company is planning to focus and extend its social media campaigns and celebrity collaborations in Asia as well. It is considering is as the “largest long-term growth opportunity” as there is a potential market for crocs.

With its promotional strategies and media campaigns, Crocs is going to be the next footwear icon.



      

Rafael Schneider

Rafael Schneider : Reporter I am Rafael Schneider and I focus on breaking news stories and ensuring we (“World Front News”) offer timely reporting on some of the most recent stories released through market wires about Sector companies. I have formerly spent over 6 years as a trader in U.S. Stock Market and is now semi-stepped down. I work on a full-time basis for specializing in quicker moving active shares with a short-term view on investment opportunities, and also covers the latest news, and trends. Address:  3817 Daylene Drive Pontiac, MI 48342 Phone:  (+1)- 734-577-2738 Email:  [email protected]