Crocs Gives Old Shoes a Second Chance with Expansion of Takeback Program Across the United States

Rhea-AI Summary

Crocs, Inc. (NASDAQ: CROX) expands its 'Old Crocs. New Life' shoe takeback program nationwide, offering fans a 10% discount when they bring used shoes to retail locations or use a mail-back option. The program aims to address environmental challenges by repurposing or donating old Crocs. The company partners with Soles4Souls for donations and focuses on sustainable practices.

Positive

• Expansion of the 'Old Crocs. New Life' program nationwide increases brand loyalty and customer engagement.

• Partnership with Soles4Souls showcases the company's commitment to social responsibility and community impact.

• Crocs' focus on circular models of production and consumption demonstrates a dedication to sustainability and reducing waste.

Negative

• There might be a potential increase in operational costs associated with collecting and repurposing used shoes.

• Repurposing well-loved pairs of Crocs shoes may not always be a cost-effective process for the company.

Fans will receive a 10% discount when they bring used Crocs shoes to any retail location in the continental United States or go online for a no-cost mail-back option

BROOMFIELD, Colo., May 9, 2024 /PRNewswire/ -- Crocs, Inc. (NADSAQ: CROX) invites people across the country to participate in the 'Old Crocs. New Life' shoe takeback program. All Crocs retail and outlet locations in the United States, excluding Hawaii and Puerto Rico, are now equipped with designated collection boxes for fans to drop off Crocs shoes in any condition – from well-loved to gently used or outgrown. Anyone with used Crocs shoes in the continental United States can also visit crocs.com/oldcrocsnew.html to receive a no-cost mail-back kit to send in shoes for their next life. Each participant will receive a one-time 10% discount on Crocs products, in store or online.

"We are expanding our 'Old Crocs. New Life' program, taking learnings from last year's pilot and working to create an even bigger impact together with our fans," said Deanna Bratter, Vice President, Global Head of Sustainability, Crocs, Inc. "The growth of this program is an exciting continuation of our efforts to address the environmental and social challenges faced by the footwear industry and ultimately make a difference by keeping shoes on feet and out of landfills."

The expansion of the 'Old Crocs. New Life' program follows encouraging results from the pilot launched in October 2023. Crocs will continue to leverage partnerships and product innovation to strive toward giving each received pair its next best use.

Gently used Crocs shoes will be donated to Soles4Souls, an international non-profit organization that works with partners to create local economic benefit in communities around the world through entrepreneurship and employment. Well-loved pairs of Crocs shoes that may be unwearable will be repurposed and reimagined to give the materials another use, such as being upcycled into new Crocs shoes.

Crocs is committed to championing circular models of production and consumption through more innovative product design and collaboration. Crocs continues to find new ways to reduce waste in manufacturing, distribution and end-of-life to promote a more circular economy for footwear and all.

To learn more about Crocs, Inc.'s circularity efforts and ambitions, visit investors.crocs.com/responsibility to view the 2022 Comfort Report.

About Crocs, Inc.:
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 85 countries through wholesale and direct-to-consumer channels. For more information on Crocs, Inc. visit investors.crocs.com. To learn more about our brands, visit www.crocs.com or www.heydude.com. Individuals can also visit https://investors.crocs.com/news-and-events/ and follow both Crocs and HEYDUDE on their social platforms.

PR Contact:

Melissa Layton, Crocs, Inc.

(303) 848-7885

mlayton@crocs.com

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SOURCE Crocs, Inc.

FAQ

What is Crocs, Inc.'s 'Old Crocs. New Life' program about?

Crocs, Inc.'s program encourages people to bring used Crocs shoes to retail locations or use a mail-back option for repurposing or donation, offering a 10% discount on new products.

Who is Crocs, Inc.'s partner for donating used shoes?

Crocs, Inc. partners with Soles4Souls, an international non-profit organization, for donating gently used shoes to create local economic benefits.

Where can participants in the program find more information?

Participants can visit crocs.com/oldcrocsnew.html for details or investors.crocs.com/responsibility to learn about Crocs, Inc.'s circularity efforts.