Crocs Launches the Keep It Going Classic Clog Made with 25% Recycled Material from Consumers' Well-Loved Shoes

Rhea-AI Summary

Crocs (NASDAQ: CROX) has launched the Keep It Going Classic Clog, featuring 25% post-consumer recycled content from shoes collected through their 'Old Crocs. New Life' takeback program. This -edition clog, priced the same as the Classic Clog, showcases Crocs' commitment to circularity and sustainability. The brand recently achieved 25% bio-circular content across its entire Croslite material portfolio.

The new clog's Moon Dust color includes visible specs of recycled material, making each pair unique. Crocs continues to focus on reducing waste in manufacturing, distribution, and end-of-life processes to promote a more circular economy in footwear. The 'Old Crocs. New Life' program also donates gently used shoes to Soles4Souls, supporting communities worldwide.

Positive

• Launch of Keep It Going Classic Clog with 25% post-consumer recycled content
• Achievement of 25% bio-circular content across entire Croslite material portfolio
• Successful implementation of 'Old Crocs. New Life' consumer takeback program
• Maintaining the same price point for the new sustainable clog as the Classic Clog

Negative

• None.

Insights

Sustainability Expert

The launch of Crocs' Keep It Going Classic Clog marks a significant step towards circular economy practices in the footwear industry. By incorporating 25% post-consumer recycled content from their takeback program, Crocs demonstrates a commitment to closed-loop manufacturing. This move aligns with growing consumer demand for sustainable products and could positively impact brand perception.

However, the -edition nature of this product raises questions about scalability. The real test will be Crocs' ability to expand this initiative across their product line. Investors should monitor the consumer response and any plans for wider implementation, as successful scaling could lead to cost savings in raw materials and potential market share gains in the eco-conscious consumer segment.

Financial Analyst

While Crocs' sustainability initiative is commendable, its direct financial impact may be in the short term. The Keep It Going Classic Clog is priced the same as the regular Classic Clog, suggesting no immediate premium pricing strategy for this eco-friendly version. However, this move could enhance brand value and customer loyalty, potentially driving long-term revenue growth.

Investors should focus on:

• Potential cost savings from reduced raw material needs
• Impact on market share in the competitive footwear industry
• Any R&D expenses associated with developing recycled materials

While not a game-changer for immediate financials, this initiative positions Crocs favorably in the growing sustainable fashion market, which could translate to increased shareholder value over time.

Consumer Trends Analyst

Crocs' recycled clog launch taps into the burgeoning conscious consumerism trend. With 78% of consumers more likely to purchase from environmentally responsible companies, this move could significantly boost Crocs' appeal among eco-conscious shoppers, particularly millennials and Gen Z.

The "Old Crocs. New Life" program cleverly combines sustainability with customer engagement, potentially increasing brand loyalty and repeat purchases. However, the success hinges on effective marketing to raise awareness and drive participation in the takeback program.

Watch for:

• Consumer reception and sales data of the new clog
• Expansion of the recycling initiative to other product lines
• Competitors' responses in the sustainable footwear space

This launch could be a pivotal moment in Crocs' brand evolution, potentially attracting a new demographic of environmentally conscious consumers.

The brand delivers a proof point of circularity in action by using recycled content from shoes collected through the 'Old Crocs. New Life' consumer takeback program

BROOMFIELD, Colo., Sept. 19, 2024 /PRNewswire/ -- Crocs (NADSAQ: CROX), a global leader in innovative casual footwear for all, today announced it achieved another step forward toward its circularity goals with the launch of the limited-edition Keep It Going Classic Clog. The new clogs feature 25% post-consumer recycled content in each shoe, created from shoes collected through the brand's 'Old Crocs. New Life' consumer takeback program.

The launch of the Keep It Going Classic Clog follows the brand's recent milestone of achieving 25% bio-circular content across its entire Croslite material portfolio, which includes the Classic Clog and the majority of the brand's shoes¹. By incorporating bio-circular content, Crocs is giving a second life to plant-based byproducts that would have otherwise ended up as waste through material innovation. In combination with the 25% post-consumer recycled content, the Keep It Going Classic Clog showcases the brand's efforts at the intersection of circular innovation and materials.

"I want to thank every Crocs fan who brought in or sent back their old Crocs shoes so we could explore ways to give them a new life. This type of circularity program only works when consumers engage and are willing to do some good in the world together," said Deanna Bratter, Chief Sustainability Officer, Crocs, Inc. "Fueled by our fans, we are making strides in our ambition to create more circular systems of production and consumption, and ultimately delivering against our commitment to bring Comfort for the Planet."

Since the launch of the 'Old Crocs. New Life' pilot program last October and its nationwide expansion in May, the brand has collected Crocs shoes at retail locations across the country and through an online mail-back kit. The brand's priority is to keep shoes on feet for as long as possible, so gently used Crocs that can still be worn are donated to Soles4Souls, an international non-profit organization that works with partners to create local economic benefit in communities around the world. Well-loved Crocs that cannot be kept on feet are processed, sorted and deconstructed into post-consumer recycled materials ready for their next use, in this case integrated into the Keep It Going Classic Clog.

Available now online and in select Crocs retail locations in the U.S., the Keep It Going Classic Clog features intentional design choices that tell the story of the clog's journey. The clog color is named Moon Dust, featuring an on-trend almond base with visible specs of recycled shred created from shoes received from 'Old Crocs. New Life.' Additional nods to the important role that fans have played in Crocs' sustainability progress include 'Keep It Going' on the inside of the backstrap and a similarly inspired rivet. Due to its recycled nature, each clog is unique and its color may vary slightly from others. The Keep it Going Classic Clog is a limited-edition product at the same accessible price point as the Classic Clog.

Crocs is committed to circular solutions and continues to find new ways to reduce waste in manufacturing, distribution and end-of-life to promote a more circular economy for footwear and beyond. Learn more about Crocs' Purpose and shop the Keep It Going Classic Clog.

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 80 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.

(1). The majority of our shoes are made with Croslite™ material (Croslite accounts for more than 80% of our total footwear materials use). We source repurposed bio-based waste from other industries (bio-circular materials) to produce bio-circular Croslite. Our current Croslite portfolio uses at least 25% bio-circular material sourcing calculated annually (since September 2023) through a mass balance approach (ISCC PLUS Certified).

PR Contact: 
Austin Cozzolino, Crocs, Inc.
(303) 848-7461
acozzolino@crocs.com

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SOURCE Crocs, Inc.

FAQ

What percentage of recycled material is used in Crocs' new Keep It Going Classic Clog?

The new Keep It Going Classic Clog from Crocs (CROX) features 25% post-consumer recycled content in each shoe, created from shoes collected through the brand's 'Old Crocs. New Life' consumer takeback program.

How much bio-circular content has Crocs (CROX) achieved across its Croslite material portfolio?

Crocs (CROX) has recently achieved 25% bio-circular content across its entire Croslite material portfolio, which includes the Classic Clog and the majority of the brand's shoes.

What is the name of Crocs' (CROX) consumer takeback program for old shoes?

Crocs' (CROX) consumer takeback program for old shoes is called 'Old Crocs. New Life'. This program collects Crocs shoes at retail locations and through an online mail-back kit.

What is the color name of the new Keep It Going Classic Clog from Crocs (CROX)?

The color of the new Keep It Going Classic Clog from Crocs (CROX) is named Moon Dust. It features an on-trend almond base with visible specs of recycled shred created from shoes received through the 'Old Crocs. New Life' program.