crocs

Jose Manuel Zea | Dreamstime.com

Crocs Are Making A Comeback, As Celebrity Collaborations Has Teens Interested In The Colorful Foam Clogs

The Company's Stock Price Has Double In 2018

November 9, 2018
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Don’t call it a comeback; they’ve been here for years, Crocs that is. After years of plummeting sales, and public mockery the rubber clog shoe company has seen a recent rise in sales. These sales are due in large part because of recent interest from teens. The stock price for Crocs (CROX) is currently sitting around $25, double the price at the beginning of the year.

A recent survey of teens, done by Piper Jaffray, shows that the shoe has seen a jump in popularity of the last year. According to the survey, Crocs currently is the 13th most popular shoe brand among teens. This is a 14 spot increase in just one year, as in 2017 Crocs was listed in the 27 spot. This clearly indicates a major interest in the foam shoe, one the company hasn’t seen since 2007.

Crocs became known to the public in 2002, when an interest in the colorful foam clogs began to rise. In 2007 crocs hit its sales peak. However, from there on sales started dwindling, as the shoe became more of a joke to the public, than a fashion statement. Their numbers have continued to drop leading to a decision to close all Crocs manufacturing plants, and outsources the production of the shoe to China and Vietnam.

While sales of the shoes have been struggling, a recent plan to target teens is now seen as a potential company saving move. The company has this strategy to thank, as recent collaborations with wrestler-turned-actor John Cena, actress Drew Berrymore and rapper Post Malone have made the shoe relevant again in the eyes of teens.

These recent collaborations, along with back to school shopping have helped Crocs see a sizeable sales increase. It is unknown if the company will continue to collaborate with celebrities on shoe releases. However, it has been a welcome surprise, as thanks to teens Crocs are finally back on the scene.

Via AOL