In this episode, Shawn and Daniel unpack what’s driving Crocs' profitability, why its turnaround worked, and whether its Asia strategy could be the next big unlock. They break down the brand's unique mix of comfort and cultural cachet, the economics of Jibbitz and limited-edition drops, and how Gen Z’s shift toward athleisure might power a decade of demand. Along the way, they explore whether Crocs is a misunderstood compounder or a hype-driven value trap — and where the stock could go in a bull, bear, and base-case scenario.
IN THIS EPISODE, YOU’LL LEARN
00:00 – Intro
04:59 – How Crocs was founded
13:38 – Why Crocs almost went bankrupt in 2008 and how it survived
25:44 – What started the second hype cycle
28:35 – What its highly customized designs mean from a business perspective
32:57 – What role social media plays in Crocs’ success
41:31 – How the HEYDUDE acquisition hurt Crocs’ business
50:28 – About Crocs’ international strategy
01:04:23 – Whether Crocs is attractively valued at its current levels
01:09:18 – Whether Shawn & Daniel add CROX to The Intrinsic Value Portfolio
*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.
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Crocs 2025 Investor Presentation.
Value Investor’s Club Pitch.
Baird 2025 Global Consumer Interview with CEO.
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