Justin Bieber Teases Crocs Collaboration, Causes Company's Stock to Jump As Much As 11 Percent
The Biebs is making waves and causing windfalls with his first foray into the world of collaborative footwear.
Justin Bieber recently took to his Instagram to tease a Crocs collaboration — and in the process caused the company’s stock to jump as much as 11 percent. Following in the footsteps of Bad Bunny’s glow-in-the-dark Crocs and Post Malone’s rugged Duet Max Clog from 2019, Bieber is the latest A-list celebrity to lend his twist to the Colorado-based company’s signature foam clogs.
Though Bieber didn’t give much away in his zoomed-out teaser photo, it appears as if his Crocs are done up in a bright orange and feature custom Jibbitz charms. A rep from Bieber’s Drew House informed HYPEBEAST that the collaboration is officially stylized as Justin Bieber x Crocs with Drew, though no release information has been provided yet.
As mentioned above, in the minutes after Bieber’s announcement Crocs stock jumped seven to eight percent before reaching an 11 percent increase, trading at a peak of $47.81 USD on October 1. As of 10:34 AM E.T. on October 2, Crocs is trading at $45.33 USD per share.
Shares of Crocs surge as much as 11% as Justin Bieber appears to tease a new partnership with the company. pic.twitter.com/o6seRNXWRm
— CNBC Now (@CNBCnow) October 1, 2020
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