Can Sydney Sweeney Help Crocs Turn Around Its Hey Dude Brand?

Hey Dude just pulled the classic "when in doubt, bring in a star" maneuver, and who better than Sydney Sweeney, Hollywood’s current golden girl? For those who’ve not been binge watching Netflix and HBO Max, Sweeney is the two-time Emmy-nominated actress popping up everywhere these days, from “Euphoria” to “The White Lotus”. Now, she’s stepping into a new role: trying to drag Hey Dude out of the mud. 

Hey Dude, the chill shoe brand that Crocs scooped up for $2.5 billion in 2022, is tripping over its own rectangle-shaped shoes. Last quarter, they face-planted with a 17.5% drop in sales, barely scraping together $198 million. Meanwhile, their parent company Crocs marched through the first quarter with better-than-expected results, seeing a 3.6% revenue boost and a nice bump in earnings per share. But Hey Dude can’t seem to catch a break, with sales expected to dip another 8-10% this year it seems their Hail Mary is banking on Sydney Sweeney’s star power to work some magic.

Sweeney, who’s become somewhat of a celebrity darling, is now the face of Hey Dude’s in a totally new campaign. They are hoping that her high profile and massive social media following—over 25 million combined on Instagram, Facebook, and X (formerly Twitter)—will help breathe new life into the brand. 

According to Hey Dude, this new campaign will combine a mix of  advertising and coordinated social media efforts from Sweeney to drive brand engagement and appeal to a wider demographic. Hey Dude’s new styles, including the Wendy and Wally Slip and the Wendy and Wally COMF, are all about making a statement without saying too much—sort of like Sweeney’s own career trajectory.

Interestingly enough, the Westwood, Massachusetts based company has already dipped its toes into pop culture this year by teaming up with the cult classic “The Big Lebowski”. They launched a Big Lebowski x Hey Dude line, complete with a sweepstakes, tipping their hat to Jeff Bridges’ legendary character, “The Dude,” and his effortless cool style. Now, with Sydney Sweeney in the mix, they’re cranking their marketing game up to the next level.

The move makes sense considering Hey Dude’s previous success with high-profile partnerships. Last year, their collaboration with YouTube legends Dude Perfect—a group known for their crazy trick shots and humor—boosted sales by 26%. The hope is that Sweeney’s involvement will bring similar results.

In a statement, Hey Dude’s president, Terence Reilly, who recently joined from Stanley (yes, the $40 cup place), praised Sweeney as a “generational talent and style icon.” With a solid following already in place—over two million fans across TikTok, Instagram, and Facebook—this partnership is all about capturing the younger audience.

We should keep in mind that investors were pretty hyped when the Sweeney announcement dropped, with shares shooting up nearly 7%. But the excitement wore off quickly, and the stock has been pretty much stuck in neutral over the past few days.

So, while the Sweeney endorsement feels like a classic high-profile marketing move, it’s still up in the air whether it will significantly impact sales. One thing’s for sure: it’s grabbing attention. Now, let’s see if it helps Hey Dude start selling those shoes.

Stocks.News holds positions in Meta, Crocs, and Netflix.