Crocs has been all over the headlines this year. From its Crocs Pollex collaboration with Salehe Bembury to the expansion of its world headquarters after its recent growth, the clog company has more lined up as the company looks to reach $5 billion in sales by 2026.
The Colorado-based company has recently acquired Hey Dude, a privately-owned footwear company. The $2.5 billion deal helps diversify the brand’s portfolio with the same goal in mind as Hey Dude is all about comfort, just like Crocs.
“We are thrilled to add another high-growth, highly profitable brand to our portfolio,” said Crocs CEO Andrew Rees in a statement to Footwear News. “We believe Hey Dude’s casual, comfortable, and lightweight products are aligned to long-term consumer trends and are a perfect fit for Crocs.”
Crocs hopes to turn Hey Dude into a $1 billion brand by 2024. In 2021, Hey Dude accumulated $570 million in revenue. If successful, Crocs would achieve its $5 billion in sales goal by 2026.
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