Foam clog company, Crocs, has seen a massive surge in sales over the last year with celebrity endorsements helping to drive profit.
From Justin Bieber to Post Malone and, most recently, Questlove at the Oscars, crocs have become a staple in the footwear game. With fashion label, Balenciaga, also having collaborated with the foam clog company it's no wonder everyone is going bonkers for the versatile footgear.
So much so, that sales for the company have gone up exponentially over the course of the first quarter of this year. When compared to a year ago this time, sales for Crocs went up by a staggering 65% for a total of $460 million.
According to the BBC, pre-tax profit had a similar massive growth going from $18.7 million between January and March 2020 to $122.5 million over the same months this year. CEO of Crocs, Andrew Rees, predicts that sales for the full year will see an increase that will be 50% higher than last year's. Rees said:
The pandemic has allowed us to reach new customers, but I think consumers are also focused on what we can offer them in the future. Sandals is a large product category and the accessible market for us around sandals is about $30 billion globally.
Promoted by celebrities
Whatever the outcome for the rest of the year, sales have been better than ever and will likely continue to grow in light of their celebrity collaborations. When Post Malone came out with his own take on the cushy clogs, the collection sold in under ten minutes.
Most recently, Bieber collaborated with the sandal giant to come out with a range of his own that also sold out within minutes of being released. The collection was described as:
The Crocs X Justin Bieber with Drew Classic Clog pulls inspiration from the signature yellow of Bieber's personal clothing brand, Drew House, and includes eight custom Jibbitz charms designed to match his good vibes and laid-back style.