Global footwear brand Crocs has recorded a 29% revenue growth in the Asia Pacific for the third quarter of 2023, hitting US$175.1 million (AUD$268.9 million).
Australia led the growth in the region with revenues increasing triple digits, according to Crocs executive vice president and CFO Anne Mehlman.
China followed this at 90% growth for the quarter on last year, while South Korea and Southeast Asia each saw “strong” double-digit growth.
Crocs’ APAC region was the second-highest market in terms of revenue for the quarter, behind North America which hit US$480.7 million (AUD$738.2 million) and ahead of Europe, Middle East and Asia at US$142.8 million (AUD$219.3 million).
Total consolidated revenues for Crocs globally, including its Hey Dude shoewear subsidiary, hit US$1.04 billion (AUD$1.59 billion), with the Crocs brand bringing in the most revenue.
“Asia is another important long-term growth driver for the Crocs brand as the brand is currently under-penetrated relative to the US,” Crocs director and CEO Andrew Rees said. “We've continued to invest in talent in the region. During Q3, we welcomed Carol Chen, our new SVP and general manager of APEC, who joined us following a 22-year career at Nike.”
In Australia, Crocs is sold through various retailers including Foot Locker, Catch.com.au, Style Tread, Shoes & Sox, The Iconic and Anaconda.