One of the fastest growing – but most divisive – corners of the fashion industry over the past five to ten years is the shoe and sneaker business.
Footwear, which has experienced some of the most rapid changes in recent years reflects a lot about a culture's or generation's priorities and interests.
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Ten or 15 years ago, you'd probably be considered quite on trend if you showed up to your local gym or pub wearing pair of Nikes (NKE) . Even better if they were streamlined, brightly colored, and had a funky addition like the Shocks or Air lines, which are designed to give wearers extra lift or agility.
Nowadays, though, footwear enthusiasts seem to prioritize comfort over almost everything else. During Covid, we all had to stay inside and shelter ourselves from bars, restaurants, theaters, concert venues, and anywhere else public where we might be seen by anyone but our Ring doorbell camera. This gave us all a little more time to reflect on the benefits of elastic waistbands and comfortable footwear, since nobody really had anywhere to be.
Gone were the days of Ferragamo loafers and Louboutin stilettos for a commute or date night. Suddenly, comfortable choices like Crocs (CROX) , Birkenstocks, and so-called ugly dad shoes were all the rage. And four years on, it looks like they're here to stay.
In fact, a recent finding by Piper Jaffray's Taking Stock with Teens survey for spring 2024 revealed that New Balance, whose extremely popular Unisex 530 shoes are more than a little viral, gained the most footwear mindshare year-over-year with teens, while Hoka, which also makes a chunky footwear silhouette, remained in a top three spot among younger crowds. Nike lost 510 basis points of mindshare among upper middle-class teens.
Crocs launches new collaboration line
Of course, it's difficult to talk about footwear popularity and comfort without discussing Crocs. The rubber clogs popular in the early 2000s have made a resurgence among everyone from health care workers to teens, and now boasts a market cap of over $7.2 billion.
Crocs are popular because they're affordable, convenient, and easily customizable. They come in a variety of colors and allow wearers to add Jibbitz, plastic trinkets that plug into Crocs' holes, to reflect one's personality. Popular Jibbitz themes include Super Mario, Hello Kitty, Spiderman, and Barbie.
Crocs keeps itself relevant not just by staying true to itself but also by collaborating with already-popular brands and performers. Some of its most popular recent collaborations include:
- Jimmy Buffett
- Barbie
- Lil Nas X
- McDonald's
- Levi's
- Taco Bell
- 7-Eleven
- Jimmy Kimmel
- Saweetie
- Hocus Pocus
- Hidden Valley Ranch
Crocs routinely drops new brand collaborations, which are almost always limited edition, and sell out quickly as enthusiasts clamor for new and novel designs.
And in April, Crocs announced it would be adding a new collaboration to its lineup, this time with beloved chip brand Pringles.
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The line includes some familiar favorites, like the Classic Sandal, as well as some new items like multicolored Pringles x Crocs clogs and Pringles x Crocs Classic Crush Boot, which includes a holster for your favorite can of Pringles and retails for $100.
Currently, the Pringles x Crocs Classic Crush Boot is completely sold out, but a five-pack of Pringles Jibbitz are still available for $20, though Crocs indicated they are currently a best seller online.