According to the company's leader, Crocs has seen a large jump in sales, increasing revenue by 20 percent in the third quarter. Crocs CEO Andrew Rees told FOX Business’ Stuart Varney its recent skyrocketing success can be attributed to brand and media tension.
“[Crocs] is a polarizing brand. There are people that love it, and there are people that hate it."
"That gives us a great deal of tension – tension in the media, tension with consumers," Rees said. "We've taken advantage of that, and that's been one of the secrets to the resurgence of the brand.”
But Rees said hating Crocs shoes isn’t the only attribution to its success. He said Crocs has seen wider consumer engagement in collaborating with big-name musicians and designers.
Crocs most recently teamed up with country artist Luke Combs to co-design a signature look, using their most popular, “incredibly comfortable” clog.
“We launched our first shoe with [Luke Combs] at the Country Music Fest in Nashville earlier this year,” Rees said. “It was a huge success. Sold out in minutes. We're coming back around and launching a new shoe with him, so it allows him to put his footprint on the shoes and to tell some of the story that he wants to tell. It sells to his followers, and it works incredibly well.”
Crocs has also collaborated with rapper Post Malone and designers Vera Bradley and Balenciaga. Rees said collaborating with different types of artists is “critical.”
“The diversity is really important to tell a variety of stories, appeal to a variety of consumers,” he said. “And we've been able to attract a whole host of new customers to the brand, hence 20 percent sales growth in Q3."