Move over UGGs because Crocs are back in the running for the footwear choice people love to hate. Just last week, Reuters reported that Blackstone Group gave a $200 million investment to Crocs in exchange for a 13% stake and board seats in the shoe company. Crocs CFO, Jeff Lasher, told Fox News that “[Blackstone has] been able to see the value of crocs as an organization in the longterm and the opportunity we have for them as an investment.” That’s a whole lotta confidence & money for garden shoes!
Despite their unpopularity, Crocs sold 55 million shoes just last year and currently offers more than 300 footwear styles in 90 countries. Jeff Lasher also told Fox News that they have no plans of slowing down anytime soon. In the next month, Crocs will be launching a stretch sole product – a ‘high-end comfortable’ mens loafer. Below is a style of loafer that they currently offer.