Used footwear from the brand can be dropped off at collection boxes or mailed in, with customers earning 10% off for returning old shoes.
- Crocs has expanded its takeback program called ‘Old Crocs. New Life’
- Customers can drop off or mail in their used Crocs footwear
- Customers earn 10% off for returning old shoes
Crocs has announced the expansion of its takeback program called ‘Old Crocs. New Life’. The program allows customers to drop off or mail in their used Crocs footwear, and in return, they will receive a 10% discount on their next purchase. The initiative was first launched as a pilot in October 2023, following the growing interest in resale trends within the industry. Crocs, Inc. has been committed to championing circular models of production and consumption, and this program is a step towards achieving that goal. The company plans to label all customer-facing packaging with recycling instructions by 2025 and aims to reduce the carbon footprint of its Classic Clogs by 50% by 2030. The expansion of the takeback program is a result of the positive feedback received during the pilot phase. Crocs will continue to collaborate with its products innovation team to find the best use for each pair of shoes returned. Deanna Bratter, the vice president and global head of sustainability for Crocs, Inc., expressed excitement about the program’s growth and its contribution to addressing environmental and social challenges in the footwear industry. In addition to the expansion of the takeback program, Crocs reported strong first-quarter earnings, with a 14.6% increase in revenue for its core brand. However, its recently acquired brand, HeyDude, experienced a decline in revenue. Crocs also appointed a new executive vice president and chief financial officer, Susan Healy, who will start in June.
Factuality Level: 2
Factuality Justification: The article contains irrelevant information about the shoe retailer’s pilot program and its financial performance, which is not directly related to the main topic of Koddi technology. It includes unnecessary details about Crocs’ sustainability goals and revenue figures, which do not contribute to the understanding of Koddi technology. The article lacks focus and includes tangential information that detracts from the main topic.
Noise Level: 2
Noise Justification: The article contains relevant information about Crocs’ sustainability efforts, financial performance, and recent executive appointment. However, it includes some repetitive information and unnecessary details that do not add value to the overall message.
Financial Relevance: Yes
Financial Markets Impacted: The article mentions the financial performance of Crocs Inc. and its subsidiary HeyDude, as well as the appointment of a new CFO. This information is relevant to investors and stakeholders in the footwear industry.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification:
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