Trump Delays Tariff Increases on Furniture and Cabinets for One More Year 
U.S. Vaccine Policy Shifts Under RFK Jr. Create Uncertainty for Pharma and Investors 
Valero Makes First Venezuelan Crude Purchase Under New U.S.-Caracas Deal 
Brazil Supreme Court Orders Asset Freeze of Nelson Tanure Amid Banco Master Investigation 
U.S. Dollar Starts 2026 Weak as Yen, Euro and Sterling Hold Firm Amid Rate Cut Expectations 
Gold Prices Rebound in Europe as Geopolitical Tensions and Fed Outlook Support Bullion 
Morgan Stanley Flags High Volatility Ahead for Tesla Stock on Robotaxi and AI Updates 
Asian Markets End Year on AI Optimism as Precious Metals and Currencies Shine 
JPMorgan and Allen & Company Emerge as Big Winners in Warner Bros Discovery Bidding War 
South Korea Factory Output Misses Forecasts in November Amid Ongoing Economic Uncertainty 
Netflix Stock Slips After Earnings as Soft 2026 Guidance Overshadows Subscriber Milestone 
U.S. Dollar Steadies Ahead of Fed Minutes as Markets Eye Policy Divisions 
U.S. Dollar Slides Toward Biggest Annual Loss Since 2017 as 2026 Risks Loom 
Oil Prices Slip Slightly as Markets Weigh Geopolitical Risks and Supply Glut Concerns 
United Airlines Posts Record Q4 Revenue as Premium Demand Lifts Earnings 
Baidu Shares Surge After Official Launch of Advanced Ernie 5.0 AI Model 
Singapore GDP Growth Surges in 2025 but Outlook Remains Cautious Amid Global Trade Risks 
Crocs Inc. revealed this week that it will acquire Hey Dude Shoes for $2.5 billion. Based on the report, the Broomfield, Colorado headquartered foam clogs maker is buying the shoe company as it wants to take advantage of the growing demand for casual shoes.
According to Reuters, many people ditched their dress shoes and went for the more comfortable footwear; thus, clogs and casual shoemakers suddenly received piles of orders. The pandemic pushed people to stay indoors, so the majority now prefer comfortable overalls from clothes to footwear.
As a result, companies like Crocs have steady orders, and the demand remained strong throughout this year. Now, to take advantage of the momentum, Crocs is acquiring Hey Dude to sell comfortable shoes alongside its popular foam clogs.
The company will be investing $2.5 billion and is paying $2.05 billion in cash, and the remaining $450 million will be paid in Crocs shares that will be issued to Alessandro Rosano, founder, and chief executive officer of Hey Dude Shoes.
"With the acquisition of HEY DUDE, we are thrilled to add another high-growth, highly profitable brand to our portfolio. We believe HEY DUDE's casual, comfortable, and lightweight products are aligned to long-term consumer trends and are a perfect fit for Crocs," Crocs CEO, Andrew Rees, said in a press release.
He went on to say, "We intend to leverage our global presence, best-in-class marketing and scale infrastructure to build upon HEY DUDE's strong foundation and create significant shareholder value. We truly admire the business that founder Alessandro Rosano has built and are honored to welcome the HEY DUDE team to Crocs."
Meanwhile, CNBC reported there are investors who are not in favor of Crocs' decision to buy Hey Dude Shoes, but Rees defended the move after the company's shares stumbled.15% in early trade. The chief explained that the purchase could push sales growth, especially in the United States Northeast and urban areas.
Crocs is also looking to expand its portfolio to include more shoes and other products beyond the rubber clogs. The company will adhere to what they are best known for when creating new items, and it is comfort which is also the trend these days.
