Crocs CEO Andrew Rees told CNBC that his company expects to exceed $6 billion in revenue by 2026 — with $5 billion of that coming just from their Crocs brand.

Mr. Rees appeared as a guest on Thursday’s edition of CNBC’s Power Lunch to discuss the phenomenal sales of the polarizing quasi-sandals. And if you were just thinking it seems like everyone has a pair of Crocs, you were right — and also wrong.

Host Tyler Mathisen asked Rees about the company’s recent stock market price drop, telling the CEO “I mean I guess when you have 67% revenue growth, it’s hard to keep that kind of growth up.”

“But you’re predicting growth for 2022, and a lot of it,” he said.

“Yeah look, we had a great year last year. 67% revenue growth, record profitability, 30% even margins which is the best in the industry, Rees said.

In January, the company reported over $2.3 billion in revenue for 2021, a 66.9 percent increase over the previous year. That’s a lot of Crocs.

Rees went on to say that he thinks “the market is nervous about short-term,” and cited supply constraints.

“I think they’re also a little bit nervous about the consumer economy,” he said, adding “We’re very very confident about the way their Crocs brand is positioned, and the consumer interest in what we have to offer.”

“Something that really stood out for me there,” Mathison said, “You are predicting a better than doubling of revenue to above, is it $6 billion? By 2026?”

“Correct,” Rees said, and explained that “we think the Crocs brand, which is 2.3 billion dollars last year, by 2026 can be five billion dollars. So we can more than double the Crocs brand.”

“And then we add to that HEYDUDE, which we bought last year,” Rees said, predicting revenue of $1 billion for that brand.

Rees went on to say that the company expects to expand significantly into the sandal market.

“Our sandal business grew 30% last year. We’ve projected that our sandals business will be four times its historic size over the next five years, so that’s a very strong growth category for us,” Rees said.

So while Crocs really do seem to be everywhere, if Rees is right, they’ll be even more everywhere.

Watch above via CNBC.

The post WATCH: Crocs CEO Predicts Jaw-Dropping $5 Billion in Revenue — Just From Crocs — By 2026 first appeared on Mediaite.

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