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There are plenty of questionable examples of companies shoehorning useless artificial intelligence features into their products (Meta’s AI-powered profiles say hello!), but finally, Crocs has found one that actually makes sense. The casual footwear brand has partnered with ABLO, an AI fashion design platform, to let people use AI to design their own Jibbitz charms. Crocs are already all about customization, a strategy that’s helped the brand grow its revenue 4% over last year. Jibbitz charms, which can be plugged into the holes on the shoes’ upper and heel strap, add an extra layer of personalization, and AI takes that to the next level. “We have Jibbitz for everyonefrom teachers to gamers to healthcare workersand we are now giving our fans the option to design one-of-a-kind charms using ABLOs AI technology, taking customization to the next level,” Crocs brand president Anne Mehlman tells Fast Company. [Photo: courtesy of Ablo] ABLO’s platform lets users either upload a photo or enter a text prompt and then choose from different art styles to create their custom Jibbitz design before proceeding to the Crocs website for purchase. ABLO’s platform is built on Story Layer-1 blockchain, which was designed to tokenize and automatically add attribution to intellectual property. That allows creators to protect and profit off their work even while making it free to remix, and it means IP owners can sell their own Jibbitz designs with licensing terms and provenance already embedded. Crocs says Jibbitz consumers are among their most valuable, and on the company’s most recent earnings call, CEO Andrew Rees says introducing fresh new Jibbitz products and getting them to market faster are among their strategic priorities for 2025. AI-generated Jibbitz certainly fits within that plan. “Jibbitz have always been a fun way for everyone to express their personality,” Michael Scarpellini, head of partnerships at Space Runners, which operates ABLO, said in a statement. “With ABLO, were giving them the freedom to take personalization to the next level, letting their creativity shine on every pair of Crocs.” While Jibbitz charms come in all shapes and sizes, ABLO’s AI-generated charms are currently limited to circles, like a button maker. Unfortunately, that means that custom fried chicken Jibbitz aren’t on the menu.
Category:
E-Commerce
President Donald Trump said that he likes the idea of giving some of the savings from Elon Musk’s Department of Government Efficiency back to U.S. citizens as a kind of dividend.He said at an investment conference in Miami on Wednesday that the administration is considering a concept in which 20% of the savings produced by DOGE’s cost-cutting efforts goes to American citizens and another 20% goes to paying down the national debt.Trump also said the potential for dividend payments would incentivize people to report wasteful spending.“They’ll be reporting it themselves,” Trump said. “They participate in the process of saving us money.”Later, as he flew back to Washington aboard Air Force One, he was asked by a reporter about the plan floated by Musk.“I love it,” the Republican president told reporters on the plane.A day earlier, Musk wrote on his social media platform that he “will check with the President” in response to a suggestion that Trump and Musk should announce a “DOGE Dividend” that would send a refund to taxpayers from part of the savings created by DOGE. Its efforts have already led to thousands of federal government employees being fired or laid off. Chris Megerian, Associated Press
Category:
E-Commerce
Birkenstock, the renowned German footwear brand, posted stronger-than-expected sales for its fiscal first quarter, fueled by strong holiday demand and the growing popularity of its closed-toe clogs. However, the companys U.S.-listed shares (NYSE: BIRK) were down about 3% in premarket trading Thursday as of the time of this writing. Strong demand meets investor skepticism The company reported quarterly revenue of 361.7 million, exceeding analyst expectations of 356.2 million. However, it maintained its annual margin forecast, as Reuters reported. The drop in share price is likely related to a cautious outlook on profit margins for fiscal 2025, with investors also concerned about the long-term impact of Birkenstock’s expansion strategyespecially the rising costs associated with new retail locations and manufacturing facilities. Expansion costs weigh on margins The footwear brand has been aggressively expanding, particularly in Asia. In October 2024, Birkenstock launched a dedicated e-commerce platform in South Korea and announced plans to open brick-and-mortar stores in the region by spring 2025. The companys gross margins fell by 330 basis points in fiscal 2024, as the Wall Street Journal reported, largely due to increased spending on new retail locations and manufacturing facilities, including a new production plant in Pasewalk, Germany. Investors may be wary of how long these expenditures will continue to pressure profits before yielding meaningful returns. Market expectations and profit misses Birkenstocks revenue forecast for fiscal 2025between 15% and 17% growthfell slightly below expectations. Analysts had anticipated a more aggressive outlook, especially given the companys recent momentum. Additionally, while sales have been strong, profits have not kept pace. Birkenstocks earnings report showed that despite higher revenues, net income was lower than analysts had projected. This discrepancy suggests that rising operational costs, supply-chain expenses, and promotional spending may be eating into profitability. Brand strength vs. market concerns Birkenstock remains a strong brand with cultural relevance, thanks in part to high-profile collaborations and celebrity endorsements. However, the stocks decline reflects broader market concerns about whether the company can translate its current sales momentum into sustained long-term profitability. This isn’t the first time investors have reacted negatively to Birkenstock’s financial performance. In August 2024, the companys stock plummeted 15% after missing profit estimates. While the latest dip isn’t as severe, it signals continued skepticism about the company’s ability to balance growth with profitability.
Category:
E-Commerce
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