GIS - Hey Dude the Hard Work Is Starting for Crocs' Newest Brand
2023-09-21 08:15:00 ET
Crocs ' (NASDAQ: CROX) main product is its classic plastic clog. The fashion has gone in and out of style over the years but has generally remained a desired shoe choice because of its simplicity and comfort.
In an effort to boost growth, however, the company bought Heydude, a company that makes slightly more formal slip-on shoes. The rubber is only now hitting the road, so to speak. It remains to be seen how good a fit the new shoe brand will prove to be.
Crocs' February 2022 acquisition of Heydude is really pretty basic from a retail perspective. A comparison will help explain what's going on. In 2018, General Mills (NYSE: GIS) bought Blue Buffalo. General Mills is a large consumer staples company with a portfolio of iconic food products. Blue Buffalo was its way to get into the pet food category.
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Hey, Dude, the Hard Work Is Starting for Crocs' Newest Brand