The latest stock sensation might just be hiding in your shoe closet or even on your feet right now. Colorado-based company Crocs Inc. (NASDAQ:CROX) has quietly outperformed some of the biggest players in the market over the past five years, including tech giants like Microsoft Corp., Meta Platforms Inc.And Amazon.com, Inc.
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The shoe company that was once a fashion faux pas has been delighting investors for five years. If you invested $10,000 in Crocs in April 2018, you would be sitting on around $76,000 today.
Originally marketed as boat and outdoor shoes, Crocs quickly became cult for their unbeatable comfort, durability and funky design, appealing to a wide range of consumers. The shoes come in a plethora of colors and are particularly popular with people who spend long hours on their feet, such as nurses and chefs.
In 2006, Crocs successfully completed its initial public offering (IPO), raising $208 million, one of the most impressive of its time. In 2012, the company generated revenue of $1.1 billion.
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By early 2022, that number had nearly tripled, reaching $3.6 billion. The massive revenue growth can be attributed to Crocs’ expansion into new footwear lines, such as sandals, and high profile collaborations with companies such as The Walt Disney Co. And Vera Bradley Designs Inc. to create limited edition models.
The foam clog maker has become a fashion sensation, even loved by the likes of Justin Bieber and Post Malone, and the company is enjoying the fruits of its labor.
Crocs shares soared even as the rest of the market boiled. The stock has seen a staggering 222% increase from its July 2022 low of $46.08. Over the past year, Crocs shares have risen approximately 93%. In addition, the acquisition of HEYDUDE for $2.5 billion helped improve the company’s results.
Crocs has gone from the ugly duckling of the shoe world to the Cinderella story of the stock market. Her transformation has captivated investors and fashion enthusiasts alike, proving that even the most unconventional suitors can emerge victorious.
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This article Crocs ‘Ugly’ Shoe Company Outperforms Tech Giants Microsoft, Amazon, Meta Platforms in Stock Market originally appeared on Benzinga.com
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