Casual footwear maker Crocs Inc has launched an exclusive limited-edition footwear collection in collaboration with Vera Bradley. Vera Bradley is a women’s fashion and lifestyle brand.
Crocs (CROX) Vice President of Global Marketing, Emily Sly, said, “Encouraging individuality and self-expression are hallmarks of the Crocs brand and Vera Bradley is the perfect partner to embolden our consumers to feel more comfortable in their own shoes.”
Sly added, “Rooted in the iconic DNA that Crocs and Vera Bradley are recognized for, our bold and bright tropics-inspired styles, paired with Jibbitz charms, will add a dash of personality and playfulness to consumers’ spring style.” (See Crocs stock analysis on TipRanks)
This is the third collection launched as part of a collaboration between the two brands. Their first collection was launched in July 2019.
The latest collection features Crocs’ Classic Clog and Kadee Sandal, a new style. Furthermore, the collection is available both online and at physical retail locations.
On March 29, Robert W. Baird analyst Jonathan Komp reiterated a Buy rating on the stock but did not assign any price target.
In a sector update on the seasonal trends, Komp said, “The combination of strong search trends for spring goods combined with possible spending tailwinds stemming from the stimulus payouts (~$394B in latest round of checks) and possible tax refund catchup, and ongoing re-opening when combined with a favourable margin outlook support our positive view of group fundamentals when looking over the next several quarters.”
Turning to the rest of the Street, the stock has a Strong Buy consensus rating alongside an average analyst price target of $90.63 (10.3% upside potential), based on 8 Buys and 2 Holds. Shares have gained about 342.4% over the past year.
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