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PRESS RELEASE DETAILS All Press Releases Crocs , Inc. Provides Long - Term Strategy for Sustainable , Profitable Growth September 14 , 2021 Crocs Expects by 2026 : Revenues to Grow to Over $ 5 billion Adjusted Operating Margins Above 26 % Annual Free Cash Flow in Excess of $ 1 billion BROOMFIELD , Colo . , Sept. 14 , 2021 / PRNewswire / -- Crocs , Inc. ( NASDAQ : CROX ) , a world leader in innovative casual footwear for women , men , and children , today hosted an event where Chief Executive Officer Andrew Rees and other members of the Crocs leadership team provided an overview of the Company's long - term strategy and key initiatives to deliver sustainable , profitable growth . " We are incredibly proud of the track record of growth and shareholder value creation since we first embarked on the turnaround of the Crocs brand in 2014 , " said Andrew Rees , Chief Executive Officer . " Looking forward , we expect the Crocs brand to grow to over $ 5 billion in sales by 2026. We are confident in our ability to deliver this growth while maintaining industry - leading profitability , creating significant shareholder value , and having a positive impact on our planet and our communities . " We outlined a five - year growth framework to achieve $ 5 billion in revenues , representing a compound annual growth rate in excess of 17 % using the midpoint of the company's 2021 guidance as the base year . Four key drivers underpin this growth - growing digital sales , gaining market share in sandals , capturing growth in Asia and innovating in product and marketing . With digital remaining a top priority , we expect at least 50 % of total revenues to be derived from digital channels by the end of 2026 . As we grow revenue , we expect to deliver high levels of profitability and cash flow . By 2026 , we expect Non - GAAP operating margins to exceed 26 % and annual free cash flow to surpass $ 1 billion . " While COVID - 19 and its impact on our manufacturing in Vietnam remains fluid , we are reiterating our full year 2021 guidance provided in July and we are confident in our ability to achieve a 17 % compound annual growth rate delivering over $ 5 billion of revenue by 2026 , " said Anne Mehlman , Chief Financial Officer . Share Repurchase Activity Today we announced that we expect to have repurchased $ 500.0 million of shares in 2021 by the end of the fiscal third quarter . In addition , we announced we will enter into a new Accelerated Share Repurchase ( " ASR " ) that will conclude by the end of 2021 , which will bring total expected repurchases by year end to $ 1.0 billion . Earlier this month , the Board of Directors approved an increase to our repurchase authorization such that $ 1.05 billion will remain available for future common stock repurchases after the announced ASR is completed . Introduction of New Bio - Based Croslite ™ Material As one of the world's largest footwear companies , we strive to make a positive impact on the global footwear industry and our planet by committing to transparent , socially conscious , and sustainable business practices . Today we announced that as part of our commitment to achieve net zero by 2030 , we have begun introducing a new bio - based Croslite ™ material into our iconic product lines . The company is targeting a 50 % reduction in its carbon footprint per pair of Crocs ™ shoes by 2030 as part of its overall commitment to becoming a net zero brand . In addition to introducing bio - based Croslite and becoming a 100 % vegan brand by the end of 2021 , Crocs is exploring sustainable alternatives for other elements of its packaging and working on ways to give Crocs TM shoes a second life through consumer - led donations , recycling and re - commerce programs . To learn more about how Crocs is taking action to create a more comfortable world , visit . Investor Day Resources The event materials and replay will be available on the Investors Relations section of the Crocs website , . About Crocs , Inc.