Andrew Rees: The CEO Behind Crocs' Comeback

Andrew Rees has been with Crocs for over a decade and has been a driving force behind the brand's revival. The changes he and his team set in motion helped transform a struggling company into a global success, reconnecting Crocs with a wide range of consumers. Join us as we explore his journey – from his childhood in the U.K. to his time at Reebok and, ultimately, his leadership at Crocs.

• Turning Crocs around: Andrew Rees first encountered Crocs when his employer, L.E.K. Consulting, was hired to develop turnaround strategies for the struggling shoe company.

• From consultant to CEO: After impressing during his consultant assignment, Rees became President in 2014 and was finally promoted to CEO of Crocs three years later.

• Major shareholder: Through stock acquisitions and compensation packages from his decade at the company, Rees holds approximately 1.9% of Crocs' shares.

Andrew Rees was born in Carlisle, U.K., in 1967. After completing his early education, he pursued a degree in chemistry at Imperial College London, earning his bachelor's degree in 1988. Following graduation, Rees began building his career in the retail industry, taking on a variety of roles across different companies.

He started as an associate at L.E.K. Consulting, where he gained experience in business strategy before transitioning to the British furnishing and lifestyle brand Laura Ashley. There, he worked his way up through several positions, eventually becoming director of stores.

In 1995, Rees joined Reebok. At the iconic American brand, he took on key leadership roles, including vice president of strategic planning and vice president of retail operations, strengthening his expertise in brand management and global retail.

After a year as president of the health technology company Wellspace, Rees rejoined L.E.K. in 2000. Returning to his former employer, he founded and led the firm's retail and consumer products practice as a managing director. By early 2014, Rees was leading L.E.K.'s consultants in a critical assignment for a struggling footwear company.

Recently, private equity firm Blackstone had become a major shareholder in Crocs, determined to revive the once-trendy footwear brand. One of its first moves was bringing in L.E.K. and Rees to help develop turnaround strategies.

Crocs had made a sensational entrance onto the global stage a decade earlier but had since encountered significant challenges, including inventory issues, product overexpansion, and management struggles – problems that were all elevated by the financial crisis. After a few months at Crocs, the company was so impressed with Ree's work that it decided to bring him on board permanently.

In May 2014, Andrew Rees was appointed President of Crocs. Shortly after, he was also named interim CEO until the company found a permanent replacement in early 2015 when Gregg Ribatt was appointed to the role. Together, Rees and Ribatt spearheaded a major overhaul of Crocs – one that would have lasting implications for the brand's future.

One of their first priorities was continuing the management overhaul they themselves had been brought in to lead. While Crocs had achieved incredible success in its early years, it had done so with few executives who had industry-specific experience.

As the company entered its next phase, focused on revival and long-term stability, the leadership team prioritized bringing in seasoned professionals. Among the key hires was a chief marketing officer, and the company also began working with an ad agency – an important step for what was to come.

Beyond leadership changes, Rees and Ribatt made bold operational decisions, halving the company's brick-and-mortar stores, and shifting focus toward digital sales channels. Perhaps most crucially, they refocused on what had made Crocs successful in the first place – the classic clog.

In previous years, the company had aggressively expanded into new product categories, assuming it could succeed across the board. However, this overexpansion hurt both financial performance and brand identity. To reverse the trend, they discontinued half of Crocs' product offerings, bringing the spotlight back to its signature clog.

In 2017, Gregg Ribatt stepped down as CEO of Crocs. By this time the company decided to merge the President and CEO roles, appointing Andrew Rees to take on this consolidated leadership role. Now leading the company he and Ribatt had already begun steering in a new direction, Rees oversaw early signs of a shift in consumer perception of the brand.

As CEO, he built on the momentum of Ribatt's final year, which saw Crocs make a bold move into high fashion with designer Christopher Kane. Their collaboration, featuring a unique take on Crocs for the London Fashion Week runway, marked a turning point for the brand. Following its success, collaborations became a core part of Crocs' marketing strategy – one that continues to this day.

Since then, Crocs has launched numerous high-profile collaborations with both celebrities and brands, designing custom clogs paired with matching Jibbitz charms (the small decorative pieces that snap into Crocs' holes).

These partnerships have ranged from 7-Eleven (Seven & i Holdings) and McDonald's to global stars like Justin Bieber and Post Malone. The strategy has been a marketing masterstroke, generating significant buzz and consistently selling out each collaboration almost instantly. Suddenly, Crocs was relevant again.

In recent years, Crocs received an unexpected surge in demand thanks to the pandemic. As people spent more time at home and remote work became the norm, there was a global shift toward comfortable fashion. Many brands capitalized on this trend, from industry giants like Nike to fast-growing players like Hoka (owned by Deckers Outdoor) and On.

Further reading: Chasing Runners High: The Rise of HOKA and On

Crocs rode this comfort-driven wave to perfection, which was reflected in its financial performance. During this period, the company experienced explosive growth, with revenue soaring from approximately $1.4 billion in 2020 to $3.3 billion in 2024.

With strong momentum behind the brand, Andrew Rees and Crocs expanded the company's portfolio through acquisition. In December 2021, Crocs announced the $2.5 billion purchase of Italian footwear brand HEYDUDE.

It's fair to say that Crocs has undergone a dramatic transformation since Rees joined nearly a decade earlier. From a struggling brand, dismissed by many as a fad, into a thriving footwear group with two globally recognized brands.

This turnaround has not only been a financial success for the company but also for Andrew Rees himself. Having made several early share acquisitions upon joining Crocs, he has also benefited from the company's generous stock-based compensation packages for its top executives. As of 2024, Rees held over 1 million shares, equivalent to nearly 1.9% of the entire company.

Andrew Rees' impact on Crocs' turnaround cannot be overstated. The company’s transformation over the past decade is a testament to the remarkable work he and his executive team have achieved. As Crocs now moves forward with two brands, Rees continues to shape its direction.