PANDEMIC: the stroke of luck for CROCS

According to sources from the US market research agency NDP (National Purchase Diary Panel) and the company itself, the global health crisis caused by Covid-19 brought excellent results for the CROCS footwear brand, and of course also for their imitators and the like, during 2020.

These are the emblematic EVA -ethylvinylacetate- clogs and footwear that after a sharp financial fall in 2009, a deep restructuring in 2014 and the entry of its new CEO Andrew Rees in 2017, in 2020 they were confirmed as the leaders in the consumption of ugly shoes.

The cause of the increased consumption were the new conditions in the world's population, generated by the quarantine, isolation, home office and inactivity. Footwear preferences were geared towards extremely comfortable products, with what this means in terms of flexibility, weight and functionality.

Depending on the countries and markets, CROCS sales were dissimilar but growing, according to authorized sources, they estimated that global demand was greater than 15% compared to 2019 (only in the United States it was 53%), exceeding the own expectations of the company they were for a 7% increase.

The company achieved total sales of US $ 2020 more than 1,380 million and anticipated growth for 2021 of 20 to 25%.

The news was well received by investors, which raised the share price CROCS over 12% to nearly $ 75 on Nasdaq.

On the results and forecasts, Andrew Rees, CEO of CROCS, said that “in the midst of the global pandemic of 2020, we had the strongest revenue in the history of CROCS. The momentum of our brand is exceptional and we anticipate another record year in 2021. We remain focused on continuing to provide sustainable and profitable growth in the coming years. "

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