Crocs Inc., the footwear manufacturer based in Broomfield, Colorado, has recently announced that it is revising its full-year guidance and expects to witness record-breaking annual revenue growth in 2021. The company projects a revenue increase of approximately 67 percent compared to 2020, surpassing its previous estimate of 62 percent to 65 percent growth. This remarkable achievement follows a strong Q4 quarter, where sales experienced a significant surge of 42 percent.

So far this year, Crocs has reported a revenue of $1.7 billion, marking a substantial 77.2 percent increase compared to the same nine-month period last year, which generated $974.4 million in revenue. The company is aiming for a total revenue of $2.31 billion for 2021, exceeding the $1.38 billion revenue in 2020.

Andrew Rees, the CEO of Crocs, expressed his satisfaction with the company’s performance and declared that “2021 has proved to be an exceptional year for the Crocs brand.” Despite facing challenges in the global supply chain environment, the brand has successfully achieved significant revenue growth. Rees also emphasized the recent acquisition of the Italian footwear label Heydude for $2.5 billion, expecting it to contribute further to the company’s growth.

“We maintain an incredibly confident position in the Crocs brand and still anticipate reaching $5 billion in revenues by 2026, even prior to accounting for any Heydude revenues,” stated Rees. The company has set ambitious goals for the future and plans to prioritize digital expansion, growth in the Asian market, product innovation, and more to reach its revenue target.

Looking ahead, Crocs anticipates that its revenue growth for the Crocs brand, excluding Heydude, will exceed 20 percent compared to 2021. Additionally, pro forma revenues for Heydude are expected to reach approximately $700 to $750 million for the full year.

Crocs’ outstanding performance in 2021 is a true reflection of its ability to adapt and thrive in a challenging market. The company’s focus on brand expansion, strategic acquisitions, and innovative product offerings has propelled its growth and solidified its position as a leader in the footwear industry. With a positive outlook for the future, Crocs is well on its way to achieving its long-term revenue goals and cementing its status as a global powerhouse in the fashion industry.

Useful links:
1. Crocs Inc. Reports Record Revenues and Earnings in Third Quarter 2021
2. Crocs to Acquire Adamello S.r.l., Owner of Influential Italian Foothwear Brand, Heydude