Find in the news:
BY COUNTRY

Crocs buy footwear brand Hey Dude for $2.5 billion



Crocs shares plummeted 12% on the news of the Hey Dude acquisition.
Crocs buy footwear brand Hey Dude for $2.5 billion

American footwear giant Crocs has agreed to buy the Italian brand Hey Dude. The deal could close in the first quarter of 2022 after receiving regulatory approval. This transaction is estimated to be valued at $2.5 billion. The company expects the purchase will move it up from No. 4 to No. 2 on the list of major casual shoe manufacturers, ahead of Deckers and Wolverine. 

"We believe Hey Dude's comfortable and lightweight products are in line with long-term consumer trends and are a perfect fit [for our portfolio]. We intend to use our marketing and infrastructure to develop a strong Hey Dude foundation," commented Crocs CEO Andrew Reece. 

Hey Dude was founded in Italy in 2008. About 95 percent of the company's revenue comes from the U.S. market. The Hey Dude brand will generate $570 million in sales in 2021. By comparison, Crocs' 2020 sales were $1.4 billion, up 13%. Revenue growth in 2021 continues, Forbes writes. 

In a presentation to investors, Crocs said the takeover of Hey Dude will allow it to balance the company's category portfolio, which now consists of more than 70% sabots. The new arrival will reduce that share to 57%, and Hey Dude's casual models will account for about 20% of sales. 

It is known that the deal to buy Hey Dude will be financed with $450 million in Crocs stock and $2.05 billion in cash on a line of credit. After the deal closes, the Italian brand will continue developing an independent Crocs division. Crocs shares plunged 12% following the announcement of the Hey Dude acquisition, even though its shares have already doubled since the beginning of the year. 

More about shopping malls in the USA



DAY BEFORE YESTERDAY, USA:
Stüssy is preparing to launch the new archive store in Brooklyn, New York, for one month.
May 23, 2024:
Located on Broadwick Street in Soho, London.
May 22, 2024, USA:
Luxury fashion house Balenciaga inaugurated its first standalone store in Chicago, Illinois.
May 21, 2024, France:
Some fashion brands are opting to hold their showroom presentations in Milan this season due to logistical challenges posed by the Olympics.
May 20, 2024:
The collection follows the recent launch of Zara's 'Timelesz' line and represents another step in enhancing its kids' division.
May 17, 2024:
David Beckham has signed a multi-year design deal with Hugo Boss
Friend
and Follow
Plaza Singapura GLA:482 311 SF
ADDRESS: Plaza Singapura, 68 Orchard Rd, Singapore 238839
Singapore . Singapore
Plaza Singapura
Adigeo GLA:452 084 SF
ADDRESS: Verona city center
Italy . Verona
Adigeo
Arkadia GLA:1 184 030 SF
ADDRESS: Aleja Jana Pawla II 82, 00-175
Poland . Warsaw
Arkadia
212 Istanbul Power Outlet GLA:753 474 SF
ADDRESS: Mahmutbey Merkez Mah. Taşocağı Cad. No:5 Bağcılar  /  İstanbul
Turkey . Istanbul
212 Istanbul Power Outlet


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us