Sep 15 2021
Crocs, the footwear company from Broomfield, Colorado, has taken its first big step towards its goal of net zero emissions with the launch of a bio-based version of its Croslite material, which will hit stores in 2022.
Developed in collaboration with Dow, the international company specializing in materials science, the new bio-based Croslite is manufactured from sustainably sourced waste and by-products, transformed using Ecolibrium technology. Crocs is the first shoe brand to hit the market with this technology, which it claims offers “all the comfort you expect from Crocs, but with a lot less carbon.”
The material will be incorporated into current Crocs designs, including its iconic classic clog, as part of efforts to reduce the carbon footprint of each pair of Crocs shoes by 50%. According to the company, the decision to use this new material in its existing products, rather than creating a separate sustainable line, will lead to faster progress in reducing emissions.
“By starting with our most iconic product, backed by a first-to-market solution, we are taking a very important step in creating footwear with a lower carbon footprint, while making it much easier for our customers. partners and consumers join us on our journey to net zero, “Crocs CEO Andrew Rees explained in a statement.
Crocs announced in July its intention to become a net zero emissions brand by 2030 and the company also wants to become 100% vegan before the end of 2021. According to the brand itself, its classic clogs already have a relatively carbon footprint. low, of about 3.94 kg of CO2 eq. per pair, but with the arrival of the new bio-based Crosslite this figure is expected to drop even further.
In addition, the company has said that it is looking for sustainable alternatives for its packaging and ways to extend the life of its clogs through initiatives such as consumer-led donations, recycling and second-hand programs. Crocs is also transitioning to renewable energy in its offices and distribution centers.
In the second quarter, ended June 30, 2021, Crocs had revenue of $ 640.8 million, an increase of 93.3% over the previous year. The company’s quarterly net profit was $ 319 million, or $ 4.93 per diluted share.
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