According to WWD, in Q2/2023, Crocs achieved record revenue, surpassing $1 billion. This figure represents a significant increase of 12% compared to the reported figures in the same period last year.
Crocs is expected to generate revenue of approximately $1.013 to $1.034 billion in Q3/2023, marking a 3-5% increase compared to the same period in 2022.
The conglomerate’s consolidated revenue reached $1.072 billion, with the Crocs brand alone generating revenue of $833 million, reflecting a growth rate of 14.9% compared to Q2/2022.
Crocs catches everyone’s attention with its rough, ugly shape resembling an open-mouthed crocodile. It is precisely this appearance that has made Crocs the “enemy” of the fashion world.
Crocs, the quirky-looking and despised pair of thick-soled shoes, has still become a sought-after item by fashion enthusiasts. Its main target is to strongly appeal to the Gen Z demographic and get closer to customers who prefer luxury products.
Each time Crocs launches a new product, it is always ridiculed. Even though the shoes have been improved with high soles, transforming into boots…
“Crazy idea”, “How to wear it outside”, “It’s just wrong”… these are the reactions of the online community to these strange pairs of shoes, which can cost tens of millions of dong.
Victoria Beckham once exclaimed bitterly on Instargam: “I’d rather die than wear a pair of Crocs!”.
Crocs is so hated that there is even a website dedicated to boycotting it.
But every year, Crocs is still one of the footwear companies that achieves record profits of over $1 billion.
These once ugly Crocs have now become a global fashion symbol.
Why are Crocs popular despite being ugly?
Approximately 8 years ago, Crocs, a product of the company, was a design favored by many doctors and chefs because of its comfort.
Styling with Crocs is so trendy
Wearing Crocs requires the right Gen Z socks
The favorite shoes of young people
Every young person wants to own a pair of Crocs
In the fashion world, if you mention a durable, lightweight, good-for-rain, waterproof, and slip-resistant foam footwear… Another impressive feature of Crocs is the small ventilation holes on top of the shoes. This is a blank canvas for young people to express their creativity by sticking various stickers.
Do celebrities also like them?
Despite being labeled as the “ugliest shoe brand in the world” and facing much criticism, Crocs have found favor with many celebrities.
Ariana Grande, Duchess Kate Middleton, and Miley Cyrus wearing Crocs
A number of Hollywood stars have become true Crocs fans. Notable names include former President George W. Bush, chef Mario Batail, actor Al Pacino, model Brooke Shields, entrepreneur Mark Zuckerberg…
Justin Bieber and Questlove wearing a pair of nearly 2.3 million dong Crocs
Questlove wearing shiny gold Crocs at the 2021 Oscars