Today I Learned: HEYDUDE Is Owned By Crocs
I was just minding my own business today, staying inside listening to the massive thunderstorms rolling across South Florida. At my desk, I was looking over press releases when I came across one from HEYDUDE shoes. HEYDUDE just signed on Sydney Sweeney to be a brand ambassador for them. Now, they are some comfy shoes, I like them, a lot of my neighbors here in Southwest Florida do, too, but then I ran across something. HEYDUDE Is Owned By Crocs.
At the bottom of every press release, there’s always an ‘about’ section. In this case, here’s what it said: “Crocs, Inc. (Nasdaq: CROX), headquartered in Broomfield, Colorado, is a world leader in innovative casual footwear for all, combining comfort and style with a value that consumers know and love. The Company’s brands include Crocs and HEYDUDE, and its products are sold in more than 80 countries through wholesale and direct-to-consumer channels.”
HEYDUDE Is Owned By Crocs.
This is absolutely mind-blowing to me. HEYDUDE has some of the coolest shoes out there, and Crocs, well, they’re Crocs. HEYDUDE shoes are perfect for the Florida climate, Crocs get caught in the escalators at Disney World. There’s no comparison. To even further separate the two, new Florida resident Sydney Sweeney has signed on as a brand ambassador.
“HEYDUDE values comfort, both in the footwear space and in all aspects of life, which is a message that we can all get behind,” said Sweeney. “The brand never sacrifices style for comfort, which is why HEYDUDE’s iconic styles are my favorite shoe option whether I’m traveling or commuting to set. I’m thrilled to represent the brand in 2024 and beyond.”
But – HEYDUDE Is Owned By Crocs
Just 2 days before Christmas in 2021, Crocs bought HEYDUDE for $2.5 billion dollars. Since I’m usually off at that time, it’s easy to see how I missed the news. Plus, you know, we were thinking about Christmas. Was it a huge boost to their bottom line? Well, Crocs is a publicly traded company so let’s have a look at their stock price – which is trading at nearly the same price as it was nearly 3 years ago.