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Number of Crocs Stores Globally (2016 – 2021)

Industry: Footwear
Current: Company Performance

Crocs opened a total of 22 stores in 2021
Nearly 50.8% of the revenue was derived from the wholesale channel in 2021
Crocs had a total of 373company-operated stores in 2021

Crocs Inc, an American footwear company based in Broomfield, opened 33 new stores, and closed 11 existing stores resulting in net store openings of 22 in 2021, similarly, the company also closed around 16 stores in 2020. The company’s product portfolio comprises sandals, boots, flats, sneakers, and accessories under the Crocs brand name, and it markets products through wholesale, retail, and e-commerce channels. The company’s 50.8% of the revenue was generated through their wholesale channel, which includes domestic and international, multi-brand, brick-and-mortar retailers, e-tailers, and distributors in certain countries, including partner store operators

In 2021, the 16 stores closed owing to the decrease in store traffic caused by the spread of the Omicron variant and restrictions in most markets, and revenues from their retail and wholesale channels have been significantly impacted by the pandemic, primarily in the first half of 2020. During the fiscal year that ended on December 31, 2021, the company suffered from issues with global logistics as some of its third-party manufacturers in Vietnam were forced to close for several weeks due to COVID-19 outbreaks.

By the end of FY2021, Crocs Inc operated 373 stores, up from 351 operational stores in 2020. Of the 373 stores in 2021, the United States had the highest number of retail stores with 162 stores, followed by Korea with 89 stores, China with 34 stores, Russia with 26 stores, and Germany with 14 stores in 2021.

In 2021 revenues increased by 46% compared to 2020 as a result of stronger sales volumes, which were in part a result of better sales in their direct-to-consumer companies as the pandemic subsided. The increase in 2021 revenues was the result of these factors, and their foreign sales account for a significant amount of their revenue, whereas revenue growth was boosted by positive changes in the Euro, Korean Won, and Chinese Yuan exchange rates. The company sold 103.0 million pairs of shoes worldwide, an increase from 69.1 million pairs in 2020.

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