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The innovator's dilemma: have they failed yet?
$Crocs (CROX.US)$ The innovator's dilemma: have they failed yet?
Known for its daring design that makes an impact on Gen Z redefining shoes designs for a whole generation, Crocs have been the innovator in this space and have shown past successes in innovation (Jibbitz, Echo Clogs, Platform Clogs). We have seen several successful iterations of their ideas across different shoes types.
Known for its daring design that makes an impact on Gen Z redefining shoes designs for a whole generation, Crocs have been the innovator in this space and have shown past successes in innovation (Jibbitz, Echo Clogs, Platform Clogs). We have seen several successful iterations of their ideas across different shoes types.
From the perspective that Crocs aren't cheap and in this environment where consumers are holding back, where Coca Cola and McDonald facing consumers changes in preferences and Nike facing innovation issues, Crocs still continue on their strong position despite all these obstacles.
The focus on HeyDude which is a small segment of Crocs does not present a realistic competitors comparison here. The very fact that Crocs is not seeing a shrink in sales number but actually have the ability to continue to innovate in such a less favorable environment.
Quote from The Innovator's Dilemma, "...disruptive technologies typically are first commercialized in emerging or insignificant markets. And third, leading firms' most profitable customers generally don't want, and indeed initially can't use, products based on disruptive technologies."
Crocs' venture into the sneakers industry is still at an early stage, and we expect them to eventually evolve and break into the sneakers segment. We wouldn't focus too much on their Heydude brand, but rather on their efforts to adopt their sneaker designs to compete directly with Nike and Adidas. We will rather focus on their Crocs Echo Storm innovations and see the potential to reshape Heydude through that.
Their continuous innovations through collaboration is their greatest strength and we don't see any signs of decline in their collaboration efforts. This presents a great dip buying opportunity for a healthy and innovative company.
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