Crocs just did $640.8 million last quarter, proving the world''s ugliest shoe is also one of retail''s greatest turnaround stories Summary List Placement When Gregg Ribatt took over as Crocs ''s CEO in 2014, he made two typical moves in an attempt to revive the Colorado-based company that five years earlier was on the brink of bankruptcy. He hired a new chief marketing officer and an ad agency. Less expected? He cut half of the company''s products, closed unprofitable brick-and-mortar stores, and adopted a laser focus on one product: the foam clogs known as the " ugliest shoes ever. " Seven years and another new CEO later Andrew Rees replaced Ribatt as CEO in 2017 those strategies have paid off. The company saw a surge in revenue in its second quarter this year, jumping 93% year-over-year , to $640.8 million. Meanwhile, it hit a cultural milestone when musician Questlove sported gold Crocs to the Oscars red carpet this year. A desire for comfort during the pandemic and a stroll down the red carpet aren''t the only boosts to the 20-year-old company''s popularity. The surge of love has been in the works for years and is the result of a highly targeted campaign that doubled down on the idea that some people actually hate the shoe with a passion and its fans don''t care.