Crocs are making a serious comeback — thanks to teens

Kristin Myers

Rubber clogs are popular again. Shares of Crocs (CROX) soared, buoyed by renewed interest from teens. Currently, the stock is hovering around $25, more than doubling its share price from the beginning of the year.

Share prices for Crocs have steadily risen since the beginning of 2018.
Share prices for Crocs have steadily risen since the beginning of 2018.

According to recently published Piper Jaffray’s survey of teens, the brand was the 13th most popular, joining a list of brands like Vans and Adidas. The foam shoe company jumped 14 spots from 27 in 2017.

The shoe brand, known for its comfortable slip-ons, has worked hard to capture younger sales, partnering with wrestler-turned-actor John Cena, and actress Drew Barrymore. Last week, it collaborated with rapper Post Malone. The Limited Edition Dimitri clog quickly sold out. The company pointed to back-to-school shopping for its surge in popularity.

After landing on the scene in 2002, the colorful foam clog saw its sales peak in 2007, a year after going public. But in 2009, sales plummeted and Colorado-based Crocs was nearly forced to file for bankruptcy.

The stock’s jump comes amid a decision to close all Crocs manufacturing plants and outsource production to China and Vietnam.

Kristin Myers is a reporter at Yahoo Finance. Follow her on Twitter.

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