GO
Loading...

Enter multiple symbols separated by commas

Crocs Launches New Line of Footwear

Crocs, the maker of plastic clogs is introducing a new line of fashion footwear line, You by Crocs.

The introduction of the line of nine boots and shoes marks a departure for Crocs, which has logged huge sales from the popularity of its odd-looking, perforated shoes.

The new line of footwear marks a radical shift in pricing with the boots ranging from $149 to $299 a pair. That’s far above the $30 price on Crocs’ standard shoes.

Crocs’ push to broaden its product portfolio reflects the company's desire to avoid becoming a one hit wonder. On the strength of those early models, Crocs, Niwot, Colo., has rocketed from $1.2 million in revenue in 2003 to $354.7 million last year and a projected $670 million to $680 million this year. The company’s net last year was $64.4 million.

Crocs’ stock has risen 262% in the past 12 months to close today at $85.05, up $2.88.

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

U.S. Video

  • This Day in History, May 27

    On this day in history, in 1937 the Golden Gate Bridge opens; "The Arsenio Hall Show" broadcast its final show in 1994, and in 2014 Google unveils a self-driving car.

  • Markets eye Fed rate hike

    Kevin Holt, Invesco CIO, and Steven Wieting, Citi Private Bank, discuss how an increase in interest rates will likely impact the markets, and where investors can find value.

  • FIFA officials arrested on corruption charges

    High-ranking soccer officials were arrested as part of a U.S. investigation into corruption at the sport's governing body, reports CNBC's Geoff Cutmore.