Hey dude
Crocs buys Italian casual shoe brand Hey Dude
Crocs has signed an agreement to buy Italian footwear brand Hey Dude for $ 2,5 billion. The deal is slated to close in the first half of 2022. With the acquisition of Hey Dude, Crocs is expanding its presence in the casual footwear segment that is ideal for summer, summer cottages and holiday resort options.
Hey dude
Hey Dude was founded in 2008 and produces casual shoes with a fabric, mainly cotton upper and lightweight EVA soles - moccasins, slip-ons, topsides. The Italian brand boasts the lightness of its models, the weight of which does not exceed 120 grams, and emphasizes that the shoes are officially allowed to be washed in the washing machine.
Hey dude“Casual, comfortable and lightweight, Hey Dude products are in line with long-term consumer preference trends and are perfect for Crocs,” said Crocs CEO Andrew Rees. “We intend to leverage our global presence, best-in-class marketing and scalable infrastructure to build on the solid foundation of Hey Dude to create significant shareholder value.”
As a result of the transaction, the founder of the Hey Dude brand Alessandro Rosano will personally receive $ 450 million of the total amount; upon its completion, Hey Dude will operate as an independent division, and Alessandro Rosano will continue to lead the development of innovative Hey Dude products as strategic advisor and creative director. The company will be headed by Rick Blackshaw, a 25-year footwear manager with CCM Hockey, Sperry, Keds and Converse.
Hey Dude at the Euro Shoes Premiere Collection in Moscow, August 2020
It should be noted that the Italian footwear brand Hey Dude is a participant in the international shoe exhibition Euro Shoes Premiere Collection, and will also participate in the next Euro Shoes, which will be held in Moscow. February 21-24, 2022 at Expocentre.
Crocs has signed an agreement to buy Italian footwear brand Hey Dude for $ 2,5 billion. The deal is slated to close in the first half of 2022. With the acquisition of Hey Dude, the company ...
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