How Crocs Became An Unlikely Billion-Dollar Brand
These are Crocs. And a lot of people think they’re really ugly. People who love to hate Crocs had cause to celebrate in 2008, when investors were writing the company off as a passing fad. Crocs lost over $185 million that year and cut 2,000 jobs. The stock plunged to just over $1 a share from a high of about $69 a year earlier.
But over the next decade, Crocs would go on to sell 700 million pairs of shoes worldwide. Recently, the clogs have have been strutting down runways at luxury fashion shows. Celebrities like Justin Bieber, Ariana Grande and Post Malone are wearing the shoes. It’s a top brand among Gen Z. And limited edition Crocs are selling for up to $1,000 on the resale market. Crocs have become... a collector’s item.
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How Crocs Became An Unlikely Billion-Dollar Brand
Видео How Crocs Became An Unlikely Billion-Dollar Brand канала CNBC Make It
But over the next decade, Crocs would go on to sell 700 million pairs of shoes worldwide. Recently, the clogs have have been strutting down runways at luxury fashion shows. Celebrities like Justin Bieber, Ariana Grande and Post Malone are wearing the shoes. It’s a top brand among Gen Z. And limited edition Crocs are selling for up to $1,000 on the resale market. Crocs have become... a collector’s item.
» Subscribe to CNBC Make It.: http://cnb.cx/2kxl2rf
About CNBC Make It.: CNBC Make It. is a new section of CNBC dedicated to making you smarter about managing your business, career, and money.
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How Crocs Became An Unlikely Billion-Dollar Brand
Видео How Crocs Became An Unlikely Billion-Dollar Brand канала CNBC Make It
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