There’s nothing like a celebrity endorsement to get the share price soaring.
And that appears to be the case after Canadian teen warbler Justin Bieber posted an obscure image of the world’s most hideously ugly shoe, the infamous Croc, on his Instagram page with the caption “soon”.
Within three hours, the Instagram post had been liked more than 670,000 times.
Many took this to believe the singer and the brand were set to announce some sort of collaboration.
Well, the US share market certainly assumed as much, Croc’s share price rising 11 per cent to $US47.81 following Bieber’s post.
Crocs’ official account responded with a green heart emoji, further fueling the speculation.
It’s not the first time that the 26-year-old singer has shown his affection for the brand, having previously been photographed on a number of occasions wearing the garish sandals more commonly associated with badly-dressed pensioners.
And not that the Colarado-based Crocs is too concerned by its reputation having previously collaborated with US rapper Post Malon, skate brand Pleasures, streetwear brand Alife and luxury French fashion label Balenciaga.
Crocs was originally developed as a boating shoe in 2001 before transitioning to lifestyle. Reports say its global sales have now topped 300 million.
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