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Let's Croc About It
How a $10M acquisition changed the trajectory of a shoe brand
Ali Kaltman
July 21, 2024
Brand: Crocs
Campaign: The Jibbitz Acquisition
Read time: 3 minutes
💬 Overview 💬
Crocs are generally known for two things…
Being comfy and being ugly(!).
The shoe brand started in Colorado in 2002 with a dream to make the comfiest shoe possible.
Ultimately inspired by the dutch clog, the Croc was born.
In 2006, a Colorado couple purchased the shoes for their kids and decided to personalize them.
They created little charms you could place right on the shoe.
Recognizing the potential, the family started making and selling those charms (and they called them Jibbitz).
This quickly started a movement and the Crocs team noticed…
💙 The Branded Moment 💙
Crocs acquired the brand for a cool $10 Million in 2006.
It was huge for the family that started the brand, but even bigger for Crocs.
They started partnering with all different kinds of companies through licensing deals, partnerships, etc.
Some of their biggest partnerships to date include:
Lil Nas X
McDonalds
Jimmy Kimmel
Balenciaga
Benefit Cosmetics
They can literally partner with any person, brand, business, or idea given their platform.
Disney Jibbitz
And without Jibbitz, I don’t think Crocs could have become the cultural icons and outlet for self-expression that they have become today.
💡 Results 💡
Today, the Jibbitz business is worth over $250M alone.
Personalization, especially in the last decade, has become a major trend for consumers.
Crocs themselves are not vessels for expression…
But the charms?
They’ve become a key component of Crocs’ success.
🎬 Take Action 🎬
How do consumers express themselves through your product currently?
If someone wears/eats/uses your brand, what is that saying about them?
Maybe, just maybe, there’s an opportunity to offer individualization or self-expression in a way you are not thinking about.
And that business in itself could be a quarter of a billion dollar opportunity.
Plus… the product for your product business is REALLY taking off.
Get after it! 💙
What’s New This Week
One new product I tried this week 👉 Prime Strawberry Banana for Hydration — I tried because it was on sale, and it was actually delicious.
One new campaign I’m loving 👉 It Ends With Us Movie Have been loving their TikTok strategy!
One new show to watch 👉 Love Island USA has been the hit of the summer and I’m finally catching up.
Brandkeeping
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And if you have a brand or campaign you want to spotlight, please reply directly to this newsletter.
Let’s chat!
See ya!
Ali
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