CROCS, INC. AND MOSAIC BRANDS LIMITED ANNOUNCE SETTLEMENT OF LITIGATION

BROOMFIELD, Colo. , July 18, 2024 /PRNewswire/ -- Crocs, Inc. (NADSAQ: CROX) and Mosaic Brand Limited today announced that they have settled a lawsuit in the Federal Court of Australia in which Crocs alleged that Mosaic's sale of certain molded foam shoes infringed on Crocs' intellectual property rights.   

Crocs, one of the world's leading casual footwear companies, has been selling its iconic Classic Clog shoes in Australia for almost 20 years. The Classic Clog is sold in more than 85 countries and has become one of the most recognizable footwear styles in the world. Crocs owns trademark registrations covering the iconic shape and design of its flagship shoe in more than 30 countries worldwide, including Australia. The case against Mosaic was filed in late 2021 upon Crocs' discovery that Mosaic was selling footwear that Crocs alleged is deceptively similar to its Classic Clog.

The parties were able to agree on mutually agreeable settlement terms without admissions. While specific terms of the agreement are confidential, Mosaic has agreed to discontinue production and sale of certain molded footwear styles named in the litigation, and certain similar styles, before the end of the year.

The companies jointly stated, "We are pleased that we were able to resolve this dispute amicably, avoiding the need for further expenditure of time and resources by either party on this litigation."

About Crocs, Inc.:
Crocs, Inc. (Nasdaq: CROX), headquartered in Broomfield, Colorado, is a world leader in innovative casual footwear for all, combining comfort and style with a value that consumers know and love. The Company's brands include Crocs and HEYDUDE, and its products are sold in more than 85 countries through wholesale and direct-to-consumer channels. For more information on Crocs, Inc. visit investors.crocs.com. To learn more about our brands, visit www.crocs.com or www.heydude.com. Individuals can also visit https://investors.crocs.com/news-and-events/ and follow both Crocs and HEYDUDE on their social platforms.

SOURCE Crocs, Inc.; Mosaic Brand Limited