American footwear major Crocs targets $5 bn revenue by 2026

Crocs, an American leader in innovative casual footwear for women, men and children, has outlined a five-year growth framework to achieve $5 billion in revenues by 2026. In an event attended by CEO Andrew Rees and other members of the Crocs leadership team, provided an overview of its long-term strategy and key initiatives to deliver sustainable, profitable growth.

 

Crocs, an American leader in innovative casual footwear for women, men and children, has outlined a five-year growth framework to achieve $5 billion in revenues by 2026. In an event where CEO Andrew Rees and other members of the Crocs leadership team provided an overview of its long-term strategy and key initiatives to deliver sustainable, profitable growth.#

“We are incredibly proud of the track record of growth and shareholder value creation since we first embarked on the turnaround of the Crocs brand in 2014,” Andrew Rees, chief executive officer at Crocs, said in a press release. “Looking forward, we expect the Crocs brand to grow to over $5 billion in sales by 2026. We are confident in our ability to deliver this growth while maintaining industry-leading profitability, creating significant shareholder value, and having a positive impact on our planet and our communities.”

 

Crocs, an American leader in innovative casual footwear for women, men and children, has outlined a five-year growth framework to achieve $5 billion in revenues by 2026. In an event where CEO Andrew Rees and other members of the Crocs leadership team provided an overview of its long-term strategy and key initiatives to deliver sustainable, profitable growth.#

According to the company, the four key drivers that underpin the expected growth are– growing digital sales, gaining market share in sandals, capturing growth in Asia and innovating in product and marketing.  

 

Crocs, an American leader in innovative casual footwear for women, men and children, has outlined a five-year growth framework to achieve $5 billion in revenues by 2026. In an event where CEO Andrew Rees and other members of the Crocs leadership team provided an overview of its long-term strategy and key initiatives to deliver sustainable, profitable growth.#

“With digital remaining a top priority, we expect at least 50 per cent of total revenues to be derived from digital channels by the end of 2026,” the foam shoemaker said. “As we grow revenue, we expect to deliver high levels of profitability and cash flow. By 2026, we expect Non-GAAP operating margins to exceed 26 per cent and annual free cash flow to surpass $1 billion.”

 

Crocs, an American leader in innovative casual footwear for women, men and children, has outlined a five-year growth framework to achieve $5 billion in revenues by 2026. In an event where CEO Andrew Rees and other members of the Crocs leadership team provided an overview of its long-term strategy and key initiatives to deliver sustainable, profitable growth.#

“While COVID-19 and its impact on our manufacturing in Vietnam remains fluid, we are reiterating our full year 2021 guidance provided in July and we are confident in our ability to achieve a 17 per cent compound annual growth rate delivering over $5 billion of revenue by 2026,” Anne Mehlman, chief financial officer at Crocs said.

 

Crocs, an American leader in innovative casual footwear for women, men and children, has outlined a five-year growth framework to achieve $5 billion in revenues by 2026. In an event where CEO Andrew Rees and other members of the Crocs leadership team provided an overview of its long-term strategy and key initiatives to deliver sustainable, profitable growth.#

Meanwhile, as a part of the company’s commitment to achieve net zero by 2030, Crocs has started introducing a new bio-based Croslite material into its iconic product lines. The company is targeting a 50 per cent reduction in its carbon footprint per pair of Crocs shoes by 2030 as part of the overall commitment to becoming a net zero brand.

 

Crocs, an American leader in innovative casual footwear for women, men and children, has outlined a five-year growth framework to achieve $5 billion in revenues by 2026. In an event where CEO Andrew Rees and other members of the Crocs leadership team provided an overview of its long-term strategy and key initiatives to deliver sustainable, profitable growth.#

In addition to introducing bio-based Croslite and becoming a 100 per cent vegan brand by the end of 2021, Crocs is also exploring sustainable alternatives for other elements of its packaging and working on ways to give Crocs shoes a second life through consumer-led donations, recycling and re-commerce programmes.