Crocs partnering with NFL for team-branded clogs and charms - report

[shoes]
kr7ysztof/E+ via Getty Images

Crocs (NASDAQ:CROX [https://seekingalpha.com/symbol/CROX]) has signed a multi-year licensing deal with the National Football League (NFL) for a collection of clogs bearing the logo of 14 NFL teams.

The deal with the NFL adds to Crocs (NASDAQ:CROX [https://seekingalpha.com/symbol/CROX]) stable of sports partnerships that include the National Basketball Association, Women’s National Basketball Association, National Hockey League, Major League Baseball and several college sports teams like the University of Florida Gators and Ohio State Buckeyes.

[Crocs bearing NFL logos]
NFL crocs (Adweek)

According to Adweek [https://www.adweek.com/brand-marketing/nfl-crocs-new-deal/], the collaboration follows this year’s NFL Draft, where Ashton Jeanty was selected by the Las Vegas Raiders while sporting custom black Crocs adorned with Swarovski crystals.

The NFL news comes amid ongoing tariff pressures as much of Croc’s (NASDAQ:CROX [https://seekingalpha.com/symbol/CROX]) merchandise is manufactured in China, Vietnam, Indonesia, Mexico, and Bosnia. Accordingly, the company expects to absorb most of the $90M in tariff costs this year while employing mitigation measures such as cost cutting, supply chain diversification, and efficient inventory management. This ultimately led the company to forecast a 9% to 11% reduction in revenue for Q3.

The news didn't move the needle for Crocs (CROX [https://seekingalpha.com/symbol/CROX]) whose shares are down 23% this year with the majority of the decline occurring in the last 30 days.

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