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Crocs makes and sells the famous clog-style shoes with holes in them, plus a few other casual footwear brands.
Crocs sells a very specific kind of shoe: the foam clog with holes on top and a strap around the back. People wear them for gardening, nursing shifts, standing all day, walking the dog, or just because they're comfortable. The company also owns HEYDUDE, a brand of casual slip-on shoes it bought in 2022, so it now runs two footwear businesses under one roof.
The core product is the Classic Clog, made from a proprietary foam resin the company calls Croslite. That material is the whole trick: it's soft, it's light, it's easy to clean, and it can be molded into shapes cheaply. Crocs makes most of its money selling these shoes through its own website and stores, and through third-party retailers and distributors around the world. The appeal is simple — they're comfortable, they're distinctive, and they've become a fashion statement as much as a practical shoe. The brand's story is a weird one. Crocs started in 2002 in Colorado, and by 2008 it was nearly bankrupt after over-expanding. It clawed back by cutting costs and leaning into its own weirdness. Then came the pandemic-era boom: people stuck at home wanted comfy shoes, and Crocs sales exploded. Revenue went from about $1.2 billion in 2019 to roughly $4 billion by 2023. The stock became a cult favorite on Wall Street for a while.
The company's biggest vulnerability is that its shoes are a fashion item as much as a utility. If the clog falls out of style, sales could drop fast. Crocs also carries a lot of debt from the HEYDUDE deal, and that brand has struggled more than expected. But the core clog business keeps churning out cash, and the company has used that cash to pay down debt and buy back shares.
Saved answer · last researched 29 Oct 2026