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. The stock plunged to just over $1 a share. But over the next decade, Crocs sold 700 million pairs of shoes. The clogs have have been strutting down runways at fashion shows. Limited edition Crocs are selling for $1,000 on the resale market. Here’s how Crocs came back from the dead and turned a widely-mocked shoe into a cultural icon.
The foam plastic footwear, known for being easy on the feet if less so on the eyes, is one of the few major retail brands to navigate the Covid-19 era successfully. For some, Crocs are the perfect shoes to wear when no one can see you wear them. For others, a pair of the colorful clogs is a fashion statement.
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