Rubber clogs are popular again. Shares of Crocs (CROX) soared, buoyed by renewed interest from teens. Currently, the stock is hovering around $25, more than doubling its share price from the beginning of the year.
According to recently published Piper Jaffray’s survey of teens, the brand was the 13th most popular, joining a list of brands like Vans and Adidas. The foam shoe company jumped 14 spots from 27 in 2017.
The shoe brand, known for its comfortable slip-ons, has worked hard to capture younger sales, partnering with wrestler-turned-actor John Cena, and actress Drew Barrymore. Last week, it collaborated with rapper Post Malone. The Limited Edition Dimitri clog quickly sold out. The company pointed to back-to-school shopping for its surge in popularity.
After landing on the scene in 2002, the colorful foam clog saw its sales peak in 2007, a year after going public. But in 2009, sales plummeted and Colorado-based Crocs was nearly forced to file for bankruptcy.
The stock’s jump comes amid a decision to close all Crocs manufacturing plants and outsource production to China and Vietnam.
Kristin Myers is a reporter at Yahoo Finance. Follow her on Twitter.
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