If you thought 2020 couldn't get any crazier, Crocs are now back in style.
The quirky footwear brand that was once named by Time magazine as one of the worst inventions of all-time, is now seen as fashionable and has become highly sought after by those looking for cool and comfortable kicks.
With Americans forced to work from home, the demand for fancy shoes such as heels or flats has rapidly declined, making way for comfortable, more practical footwear like Crocs.
Crocs CEO Andrew Rees told Cheddar this recent rise in popularity was reflected in the company's "record" Q3 earnings report. Despite many of its retail locations shutting down due to the pandemic, Crocs saw its revenue soar by 16 percent year-over-year, with digital sales up 35 percent.
"We think the Crocs brand, the company, is in a great position to continue to gain market share both in this country and around the world," says Rees.
The shift to the work-from-home lifestyle isn't the only aspect that's driving sales for Crocs. Over the last few months, the company has announced collaborations with A-List celebrities such as Justin Bieber, Post Malone, and Bad Bunny. The limited-edition Justin Bieber collaboration sold out within minutes and may have driven a whole new audience to the brand, resulting in a massive boost in sales.
"The secret sauce is the broad tapestry," said Rees. "They appeal to different people. They have different creative — they have different energy associated with them."
He noted more collaborations are expected to roll out before the end of the year and even more are on tap for 2021.
While the pandemic and the recent collaborations have accelerated the brand's overall success, Rees believes the upward trajectory isn't stopping.
"We're extremely confident. Our success is not related just to the pandemic. I think we've made the most of what is, for everybody, a very difficult situation," he said
