Crocs, Inc.

What does Crocs, Inc. own?

The company owns the Crocs footwear brand and HEYDUDE, acquired in 2022 for $2.5 billion. Both brands sell casual footwear through wholesale, retail, and e-commerce channels.

Is Crocs publicly traded?

Yes. Crocs trades on the Nasdaq under the ticker CROX. It went public in 2006.

Who founded Crocs?

Scott Seamans, Lyndon "Duke" Hanson, and George Boedecker Jr. founded the company in Boulder, Colorado, in 2002, acquiring rights to a molded foam clog from a Canadian manufacturer.

Where is Crocs headquartered?

The company is headquartered in Broomfield, Colorado, a suburb of Boulder, where it has operated since its early years.

Who owns Crocs?

As a public company, ownership is dispersed among institutional investors including BlackRock and Vanguard. No single entity controls the company.

How much revenue does Crocs make?

The company reported approximately $4.1 billion in revenue for 2025, split roughly $3.3 billion from the Crocs brand and $800 million from HEYDUDE.

Who is the CEO of Crocs?

Andrew Rees has been CEO since 2014, leading the turnaround that transformed the company from a struggling brand into a top-five U.S. footwear company.

Scott Seamans, a Colorado businessman, acquired the rights to a molded foam clog designed by a Canadian company in 2002 and launched it with partners Lyndon Hanson and George Boedecker Jr. The shoe debuted at a boating show in Florida, and its comfort and water resistance made it an immediate hit in niche outdoor markets.

Growth through the 2000s was explosive. The clog moved from boats to hospitals, restaurants, and suburban feet nationwide, and the company went public on the Nasdaq in 2006. Peak sales in 2008 exceeded $800 million before the recession and fashion backlash produced a collapse that nearly destroyed the company.

A turnaround began in 2014 when Andrew Rees, a restructuring veteran, became CEO. His strategy was counterintuitive: embrace the ugly, limit the product line, and lean into celebrity collaborations. Partnerships with Post Malone, Justin Bieber, Balenciaga, and dozens of other cultural figures converted the clog from punchline to status symbol among Gen Z.

The strategy worked beyond projections. Revenue grew from $1.2 billion in 2017 to a record $4 billion-plus, operating margins expanded to industry-leading levels, and the clog became a genuine fashion item rather than a novelty. The 2022 acquisition of HEYDUDE for $2.5 billion added a second brand targeting the same casual-comfort customer.

Fiscal 2025 results showed stabilization after a difficult HEYDUDE integration and softer consumer spending. Revenue of approximately $4.1 billion reflected modest growth, with Crocs brand strength offsetting HEYDUDE's slower recovery under new leadership.

The company publishes an annual ESG report but holds limited third-party certifications:

Materials: The Croslite material is a proprietary closed-cell resin that is not recyclable through conventional streams, a significant environmental criticism. The company has committed to incorporating bio-based materials and has launched recycled-content products, but the core material remains petroleum-based.

Climate: Science-based targets include 50 percent emissions reduction by 2030, and the company reports progress on renewable energy in offices and distribution. Contract manufacturing limits direct control over production emissions.

Labor: Supplier audits under the Responsible Business Alliance code cover its contract manufacturers, though the company does not publish detailed factory lists as comprehensively as apparel peers.

Crocs has appeared on Fortune's list of fastest-growing companies and received recognition for its social media marketing, particularly its embrace of the "ugly" aesthetic that competitors initially dismissed. The Post Malone and Balenciaga collaborations won industry marketing awards. CEO Andrew Rees has been credited in business press for one of the most successful brand turnarounds in consumer goods history.

HEYDUDE Integration: The $2.5 billion acquisition has underperformed expectations, producing analyst criticism and questions about whether the price was justified. HEYDUDE's wholesale-heavy distribution model has proven harder to scale than projected.

Fashion Cyclicality: The brand's dependence on fashion trends creates inherent volatility. While collaborations have sustained relevance, analysts periodically question whether the clog trend has peaked, producing stock swings on sentiment rather than fundamentals.

Environmental Claims: The company has faced criticism over the environmental footprint of Croslite, a material that does not biodegrade and is difficult to recycle. Its sustainability marketing has been challenged as greenwashing by advocacy groups.