Crocs
“Can Crocs leverage a unified global e-commerce and payments infrastructure to scale both its core brand and newly acquired HEYDUDE brand profitably across 100+ markets?”
Founded2002
HQBroomfield, Colorado, USA
IndustryE-commerce / Retail
The story
Founded in 2002, Crocs built a global footwear brand selling through both retail stores and direct-to-consumer e-commerce. The company underwent a significant digital consolidation around 2015, migrating to Salesforce Commerce Cloud and Adyen to create a unified global payments infrastructure. More recently, Crocs executed a major acquisition of the HEYDUDE brand financed through term loans and senior notes, expanding its portfolio and debt structure significantly.
Last 12 months
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Product timeline
2002
Crocs, Inc. founded; introduced the iconic foam clog footwear.· pivot
2011
Crocs reached $1 billion in annual sales.· pivot
2015
Consolidated global e-commerce onto Salesforce Commerce Cloud and Adyen for payments.· pivot
2019
Entered Second Amended and Restated Credit Agreement with PNC Bank as administrative agent for a $500M revolving credit facility.· banking
2021
Issued $700M in senior notes (4.250% due 2029 and 4.125% due 2031) to fund acquisition of HEYDUDE brand.· acquisition
2022
Entered Term Loan Credit Agreement with Citibank N.A. as administrative agent to finance HEYDUDE acquisition.· banking
The stack
Payments / PSP
Accounting gap: none