Crocs' popularity is skyrocketing among teens as ugly fashion takes over
- Crocs' popularity is skyrocketing among teens, according to Piper Jaffray's biannual survey.
- The iconic brand is now the 13th most popular footwear brand among teenagers, up from 27th last year.
- Crocs' surge in popularity can be attributed to the rise of "ugly" aesthetics and teens' growing preference for brands over fashion.
Crocs are experiencing a teenage renaissance.
The iconic brand's popularity has skyrocketed over the past year, according to Piper Jaffray's biannual survey of teen preferences. According to the report, released on Monday, Crocs now rank 13th out of all footwear brands in teen popularity.
Coming in at No. 13 is a massive jump forward. Last year, Crocs ranked No. 27. In Spring 2017, they languished at No. 38. According to Piper Jaffray, Crocs' mindshare is triple the brand's historical average among teens.
"The most notable brand gainers have been Vans, Adidas, Lululemon and, surprisingly, Crocs," the analysts wrote in the report.
Balenciaga Crocs.
BalenciagaCrocs' dominance is less surprising when situated in the current era of ugly fashion.
"Ugly products have become so ironic that they're now trendy, thanks to designer brands launching their own ugly clothing items," Business Insider's Mary Hanbury reported. "It's an excellent marketing ploy — these unappealing products with large price tags create a backlash and subsequent buzz on social media."
Few brands are as well known for their straightforward, ugly aesthetic as Crocs.
As a result, high-fashion designers have been eager to repurpose the brand as an ironic high-fashion icon Balenciaga's $850 platform Crocs sold out almost instantly. A follow-up Balenciaga Crocs stiletto quickly went viral.
However, most teens are not spending hundreds of dollars on Crocs. Scrolling through social media reveals that the average teenagers' appreciation for the brand is often earnest, while simultaneously showcasing the brand's strength as a memeable icon.
Love them or hate them, the Croc brand is strong and instantly recognizable — something teens appreciate. According to Piper Jaffray's report, teenagers are increasingly preferring "brands" over "fashion."
The win comes at a fitting time for Crocs. Fans have decided that October 23, this Tuesday, is National Crocs Day and have been rallying to show the footwear brand support on social media.
Hedge-fund boss Paul Tudor Jones says stocks could fall 15% before rebound
Fears over popping of global credit bubble reiterated
Volatility is back, and it isn’t about to go away, said hedge-fund titan Paul Tudor Jones, in a Monday interview with CNBC. Tudor is widely credited with having predicted the stock-market crash of Oct. 19, 1987.
Jones had also told CNBC in July that stocks could go “crazy” late this year and rally to the upside into year-end.
Instead, stocks are suffering, with a renewed selloff last week pushing the S&P 500 SPX, -1.82% and the Dow Jones Industrial Average DJIA, -2.04% back into negative territory for the year.
In the interview, Tudor said that while it was “easy to say, ‘I’m really bullish’ or ‘I’m really bearish,’ I kind of see a two-sided market.” He reiterated previously expressed fears of a global credit bubble.
Downside for stocks is down to increasing global credit risks and falling commodity prices, Jones said, adding that he hoped he wasn’t underestimating the potential negative impact of popping the credit bubble.
That decline, however, could prompt the Federal Reserve to back off on further rate increases in 2019, Jones said, which, along with corporate stock-buyback plans, could clear the way for a rebound. The Fed is widely expected to deliver a rate increase next week, but there is a “high probability that this hike, assuming they hike, will the be the last one for a long time,” he said, in the interview.