I’m certain most of you fashionistas are unaware of the fact that Crocs graced the fashion industry disguised as a boating shoe. The pioneering shoe design then appeared on the feet of fashion editors, and kids.
The 2002-established company has now proven to be a major cash cow for investors seeking a viable investment. Only last week, New York Times reporter Jack Nicas made an intriguing comparison between the price change of bitcoin and Crocs; proving that Crocs make for a better long-term investment.
Bitcoin vs. Crocs over the past year. Black line is $CROX; blue is $BTC. Y axis is price change since Aug. 16.
Indeed, buying stock in Crocs was a better investment than bitcoin. h/t to a friend who doesn't have Twitter. pic.twitter.com/y0H9vlAfNO
— Jack Nicas (@jacknicas) August 17, 2018
In a follow-up tweet, Nicas added: “Let’s give it up for the plastic cobbler who could: Crocs stock has doubled over the past 12 months!”
One can definitely conclude that Crocs’ success in the stock market is more inclined towards its collaborations with high-end designers, as compared to the shoe itself.
Crocs emerged made its runaway debut in 2016, with Scottish designer Christopher Kane. The shoes caused a real stir when Balenciago’s platform versions priced at $850 were wiped out within a span of hours.
Research shows that 25,000 searches for Crocs were made in April on eBay with almost 15,000 pairs sold in that same month.