We collect cookies to analyze our website traffic and performance; we never collect any personal data. Cookie Policy
Accept
The Tycoon Herald
  • Trending
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Money
    • Crypto / NFT
  • Innovation
  • Lifestyle
    • Lifestyle
    • Food
    • Travel
    • Fashion
    • Leadership
  • Health
  • Sports
  • Entertainment
Reading: Crocs Snaps Up Footwear Brand Hey Dude For $2.5 Billion
Sign In
The Tycoon HeraldThe Tycoon Herald
Font ResizerAa
Search
  • Trending
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Money
    • Crypto / NFT
  • Innovation
  • Lifestyle
    • Lifestyle
    • Food
    • Travel
    • Fashion
    • Leadership
  • Health
  • Sports
  • Entertainment
Have an existing account? Sign In
Follow US
© Tycoon Herald. All Rights Reserved.
Crocs Snaps Up Footwear Brand Hey Dude For .5 Billion
The Tycoon Herald > Business > Crocs Snaps Up Footwear Brand Hey Dude For $2.5 Billion
Business

Crocs Snaps Up Footwear Brand Hey Dude For $2.5 Billion

Tycoon Herald
By Tycoon Herald 5 Min Read Published December 24, 2021
Share
SHARE

American shoe brand Crocs is diversifying. (Photo by Budrul Chukrut/SOPA Images/LightRocket via … [+] Getty Images)

SOPA Images/LightRocket via Getty Images

Footwear giant Crocs CROX is set to buy privately-owned casual shoes brand Hey Dude for $2.5 billion as the U.S. clog maker diversifies its global footprint. The deal, subject to customary closing conditions and regulatory approvals, is expected to close in the first quarter of next year, and by 2024 Crocs expects to make its new asset a $1 billion dollar brand.

With Hey Dude on board, Crocs could move from fourth position behind Sketchers, Deckers and Wolverine to second (based on 2022 pro forma revenue) in the $305 billion casual footwear market. Hey Dude’s sales in calendar 2021 are forecast to be around $570 million.

Crocs CEO Andrew Rees has described the Italian-origin acquisition as “another high-growth, highly profitable” business to add to the company’s portfolio. “We believe Hey Dude’s comfortable and lightweight products are aligned to long-term consumer trends and are a perfect fit. We intend to leverage our marketing and infrastructure to build upon Hey Dude’s strong foundation,” he said in a statement.

Hey Dude was founded Italy in 2008 by CEO Alessandro Rosano who wanted to create comfortable and accessible footwear. However, today, 95% of revenue comes from the American market—and the brand also has almost one million followers across social media channels. Rosano said: “We are proud of the brand we built. Crocs is perfectly positioned to take Hey Dude to the next level.”

Rosano added that he has “long admired” Crocs whose sales rocketed by 13% to $1.4 billion in 2020, helped by stay-home Covid restrictions. Crocs achieved (at the time) its highest ever quarterly revenue in the company’s history in Q4 last year, which it has since beaten thanks to continued strength in 2021.

MORE FOR YOU

Hey Dude hasn’t done badly itself. Crocs executive vice president and CFO, Anne Mehlman commented: “Hey Dude has experienced incredible growth in revenue and profits over the past few years and the company is expected to be immediately accretive to our growth, operating margins and earnings.”

The purchase is being funded by $2.05 billion in cash and $450 million in Crocs shares issued to Rosano based on the average of the daily volume-weighted average price of Crocs stock during the 20 days immediately prior to the signing date. The $2.05 billion will come from a $2 billion term loan and $50 million borrowing through an existing credit facility.

New leadership at Hey Dude

When the deal closes, Hey Dude will operate as a standalone division, with founder Rosano, handling product development as strategic advisor and creative director. Rick Blackshaw—the former CEO at CCM Hockey—will take over as executive vice president and brand president.

Blackshaw is a seasoned veteran of the footwear and fashion market with over 25 years under his belt. He has previously served as president of boat shoe brand Sperry where he diversified the non-boat category from 36% to 50% of the business; president of Keds where collabs included Taylor Swift; and vice president/general manager of the Chuck Taylor division of Converse. Blackshaw will become a member of the Crocs executive leadership team and report to CEO Rees.

In a presentation to investors, Crocs said that the addition of Hey Dude would also help to balance the company’s category portfolio which is 71% skewed to clogs. The new arrival will take that share down to 57% with Hey Dude’s casual offering making up 20% of sales.

Investors did not react positively to the deal. Crocs stock fell by 12% today, though year-to-date it is 97% up—peaking in November—helped by a strong sales performance last year and this year to date.

You Might Also Like

Russia for Business: Experts Who Help Drive Decisions

The Quiet Shift in America’s Workforce: Why Side Hustles Are Becoming Essential for Women Over 40

Joseph Safina’s Driven Becomes Amazon Bestseller, Blending High Finance with High Speeds

Fashion Designer Hyeonseo Irene Park: Redefining Menswear Through Originality and Collaboration

From Pattaya to the World: Bryan Flowers’ Unstoppable Rise as a Global Entrepreneur

TAGGED:Real EstateThe Forbes Journal
Share This Article
Facebook Twitter Email Copy Link Print
Venezuela’s opposition chief María Corina Machado wins 2025 Nobel Peace Prize
World

Venezuela’s opposition chief María Corina Machado wins 2025 Nobel Peace Prize

Opposition chief Maria Corina Machado, who has been banned from working for workplace, campaigns for presidential candidate Edmundo González, in Maracaibo, Venezuela, Thursday, Could 2, 2024. Ariana Cubillos/AP conceal caption…

By Tycoon Herald 2 Min Read
Cops on Ketamine? Largely Unregulated Psychological Well being Therapy Faces Hurdles – KFF Well being Information
October 10, 2025
Jenna Bush Hager Dishes on Taylor Swift’s Future Marriage ceremony
October 10, 2025
Syko Stu ‘Finished’ With In-Ring Work After Raja Jackson Assault, Wrestling Pal Says
October 10, 2025
Wuhan Open: Aryna Sabalenka books semi-final spot with America’s Jessica Pegula and extends successful streak to twenty matches
October 10, 2025

You Might Also Like

Astana International Forum 2025: “Connecting Minds, Shaping the Future”
BusinessTrending

Astana International Forum 2025: “Connecting Minds, Shaping the Future”

By Tycoon Herald 3 Min Read
Investment success: GP Fatih Marketing Research Co LLC and the gold dream in Africa
BusinessTrending

Investment success: GP Fatih Marketing Research Co LLC and the gold dream in Africa

By Tycoon Herald 4 Min Read
Gaza residents stream dwelling to the north after hostage breakthrough By Reuters
Business

Gaza residents stream dwelling to the north after hostage breakthrough By Reuters

By Tycoon Herald 6 Min Read

More Popular from Tycoon Herald

MEET THE FATHER OF COADUNATE ECONOMIC MODEL
BusinessTrending

MEET THE FATHER OF COADUNATE ECONOMIC MODEL

By Tycoon Herald 2 Min Read
Woman Sentenced to 7 Days in Jail for Walking in Yellowstone’s Thermal Area

Woman Sentenced to 7 Days in Jail for Walking in Yellowstone’s Thermal Area

By Tycoon Herald
Empowering Fintech Innovation: Swiss Options Partners with Stripe to Transform Digital Payments
InnovationTrending

Empowering Fintech Innovation: Swiss Options Partners with Stripe to Transform Digital Payments

By Tycoon Herald 7 Min Read
Sports

Tremendous Bowl 2025: The numbers behind Patrick Mahomes, Travis Kelce and Kansas Metropolis Chiefs’ dominance

Sky Sports activities statistician - and massive Buffalo Payments fan - Benedict Bermange breaks down the…

By Tycoon Herald
Entertainment

James Woods Tells Jimmy Kimmel to ‘Eat S***’ After Suspension

Kimmel Suspension James Craps In Jimmy's Woods Revealed September 18, 2025 11:41 AM PDT James Woods…

By Tycoon Herald
Trending

U.S. Blew Up a C.I.A. Post Used to Evacuate At-Risk Afghans

A controlled detonation by American forces that was heard throughout Kabul has destroyed Eagle Base, the…

By Tycoon Herald
Leadership

Northern Lights: 17 Best Places To See Them In 2021

Who doesn’t dream of seeing the northern lights? According to a new survey conducted by Hilton, 59% of Americans…

By Tycoon Herald
Real Estate

Exploring Bigfork, Montana: A Little Town On A Big Pond

Bigfork, Montana, offers picturesque paradise in the northern wilderness. National Parks Realty With the melting of…

By Tycoon Herald
Leadership

Leaders Need To Know Character Could Be Vital For Corporate Culture

Disney's unique culture encourages young employees to turn up for work with smiles on their faces.…

By Tycoon Herald
The Tycoon Herald

Tycoon Herald: Your instant connection to breaking stories and live updates. Stay informed with our real-time coverage across politics, tech, entertainment, and more. Your reliable source for 24/7 news.

Company

  • About Us
  • Newsroom Policies & Standards
  • Diversity & Inclusion
  • Careers
  • Media & Community Relations
  • WP Creative Group
  • Accessibility Statement

Contact Us

  • Contact Us
  • Contact Customer Care
  • Advertise
  • Licensing & Syndication
  • Request a Correction
  • Contact the Newsroom
  • Send a News Tip
  • Report a Vulnerability

Terms of Use

  • Digital Products Terms of Sale
  • Terms of Service
  • Privacy Policy
  • Cookie Settings
  • Submissions & Discussion Policy
  • RSS Terms of Service
  • Ad Choices
© Tycoon Herald. All Rights Reserved.
Welcome Back!

Sign in to your account

Lost your password?