Background: If you've been living under a rock, Crocs are those coloured plastic clog-looking shoes with holes where you can put little accessories. The company launched back in 2002, and since then, has sold more than 720 million pairs of shoes.

What happened: Love 'em or hate 'em, Crocs have been killing it. And they're forecasting a sales of a whopping US$2.27 billion this year alone. By 2025, they expect sales to grow to US$5 billion.

What else: Crocs reckon there's a few things at play here:

1. A pandemic that's forced everyone to stay at home and look for comfy, at-home footwear
2. It seems to be the shoe of choice for healthcare workers, who spend hours on their feet each day
3. A series of high-profile collabs with celebs like Justin Bieber and Bad Bunny.

So what's the key learning?

💡Celebrity endorsements are a dime a dozen, and these endorsements are lucrative. In fact, they can increase a company's sales by an average of 4% compared to competition. 

💡But celebrity collaborations - aka, where the celeb has a hand in designing the product - are bringing out massive dollars for the brands behind them.

💡Kanye West's Yeezy collab with Adidas saw a whopping 14% increase in earnings for the sneaker brand. And Michael Jordan's Nike Air Jordan collab is now valued at a huge US$3 billion. So you can see how having a celeb as big as Justin Bieber (who has a massive 196 million Insta followers) is a big power play for Crocs.

‍