Crocs Inc. unveiled a five-year growth framework aimed at achieving $5 billion in revenues by 2026, more than triple revenues of $1.4 billion in 2020.
The growth target represents a compound annual growth rate in excess of 17 percent using the midpoint of the company’s 2021 guidance as the base year. On its second-quarter conference call, Crocs upward revised its guidance for the current year and now expects growth to be between 60 percent and 65 percent.
Four key drivers underpin the growth over the five-year growth plan:
growing digital sales, gaining market share in sandals, capturing growth in Asia, and innovating in product and marketing.
With digital remaining a top priority, Crocs said it expects at least 50 percent of total revenues to come from digital channels by the end of 2026.