Ugly is in: How Crocs have taken over teen footwear, and sent the stock soaring

“I would wear Crocs every day, and then people started laughing at me!” Crocs is the 13th most popular footwear brand among average-income female teenagers, according to Piper Jaffray’s spring survey. Crocs strikes a nostalgic note because many have worn the shoes as children, as Huang had with her “Dora” pair. A guest wears orange socks with Japanese prints, Fila white sneakers shoes, during London Fashion Week Men’s January 2018 in London, England. Last November, a pair that Crocs designed wit


“I would wear Crocs every day, and then people started laughing at me!” Crocs is the 13th most popular footwear brand among average-income female teenagers, according to Piper Jaffray’s spring survey. Crocs strikes a nostalgic note because many have worn the shoes as children, as Huang had with her “Dora” pair. A guest wears orange socks with Japanese prints, Fila white sneakers shoes, during London Fashion Week Men’s January 2018 in London, England. Last November, a pair that Crocs designed wit
Ugly is in: How Crocs have taken over teen footwear, and sent the stock soaring Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-15  Authors: jasmine wu
Keywords: news, cnbc, companies, taken, ugly, pair, company, soaring, stock, teen, shoes, sneakers, started, wear, popular, crocs, footwear, shoe, sent


Ugly is in: How Crocs have taken over teen footwear, and sent the stock soaring

A kid wears “Croc” shoes on the escalator. (Photo by Gerald Martineau/The Washington Post/Getty Images) Gerald Martineau | The Washington Post | Getty Images

Bibiane Huang has a pair of Crocs for every day of the week. The 16-year-old from San Francisco got her first pair when she was five, featuring a very cool “Dora the Explorer” print. But last year, she started searching for comfy shoes that she could easily wear before and after swimming practices, and found a pair of green hand-me-downs in Crocs’ classic clog style. “I would wear Crocs every day, and then people started laughing at me!” she recalled. “But then people started to notice me. And then everyone started wearing Crocs.” Now, Huang proudly owns seven pairs in a rainbow of colors, and is far from the exception. She estimates that more than half of the girls in her school also have a pair of what Time Magazine once called one of the “worst inventions. ” Crocs is the 13th most popular footwear brand among average-income female teenagers, according to Piper Jaffray’s spring survey. It grew from 30th in 2017, although last year it was ranked 12th. On Monday, the company’s stock was upgraded to overweight from neutral by the bank, citing “solid traffic during the summer season.” The analysts were also excited about Crocs’ collaboration with Vera Bradley, which sold out on both companies’ websites. They boosted Crocs’ price target to $27 from $22, sending shares up more than 6% in trading Monday to above $22. “It’s been a wonderful time for us,” said Terence Reilly, the company’s chief marketing officer, in an interview last week. “Teens are a big driver for our brand. They spend a lot, and youth culture drives culture.” Shares of Crocs are up 30% over the past year. In November, its stock jumped 15% after it reported third-quarter earnings that surpassed analysts’ expectations by 128%. The company has continued to beat expectations in the past two quarters, and is now valued at $1.6 billion. Although the stock is down 15% since January, that’s because “demand is so good that they can’t quite keep up with the supply,” said Sam Poser, an equity research analyst at Susquehanna. The company has been air freighting goods into the country in order to replenish fast-selling items, which cuts into their gross margins. “It’s a good problem to have, and they’re keeping people hungry for product,” he said. Teenagers agree that the shoe’s popularity shows no sign of stopping. But that doesn’t mean its reputation of being ugly has faded.

Ugly is in

Julianna, a 17-year-old from Teaneck, New Jersey who requested only her first name to be used, said that many of her friends are wearing Crocs precisely because they’re seen as ugly. “People want to wear it ’cause it’s gross. It’s like rebelling against whatever society thinks is wrong,” she said. “I always thought they were ugly, but then everyone started wearing them and it just became a trend. Everyone I know has at least one pair.” The company’s products have been poised to explode in popularity in part for this reason, according to Jocelyn Thornton, a senior vice president at The Doneger Group, which forecasts fashion trends. “Crocs hits the things that are important to consumers. The consumer is moving away from the conventional idea of beauty, and at the same time they’re definitely investing in products that are comfortable to the touch and comfortable to wear,” she said. “Right now, that generation of consumer does not feel beholden to a certain style standard that generations of the past have.” The shoes also allow teens to express their individuality with Jibbitz, or charms that they can attach to the top of the shoe, said Victoria, a 14-year-old from Warren, New Jersey, who also asked CNBC to withhold her last name. “People want to be quirky, and that’s turning into a trend,” she said. She estimates that one in every three girls in her grade own Crocs. “All of the popular people have them.” And the company feels no need to shy away from that reputation. “We know that we’re different and unique. Some might call it ugly,” Reilly said. “We embrace that polarization. It gets us attention.”

The 90s are back

Young consumers are also increasingly reaching to (or throwing back to) styles that they see as “retro.” Crocs strikes a nostalgic note because many have worn the shoes as children, as Huang had with her “Dora” pair. “For that teen Gen-Z consumer, in many cases, we were her first shoe. We came out in 2002, and she remembers us from her youth and what started as a wonderful nostalgic moment for her,” Reilly said. And it’s not the only company capitalizing on a booming 90s revival. Footwear brand Fila Korea has recently seen a resurgence in their Disruptor 2 sneakers, which first debuted in 1996. The chunky white sneaker has a sawtooth sole, and is reminiscent of the “dad” sneakers that were popular in the 90s. Fila’s sales increased 205% between 2016 and 2018, and the Disruptor 2 was named “Shoe of the Year” in 2018 by Footwear News.

A guest wears orange socks with Japanese prints, Fila white sneakers shoes, during London Fashion Week Men’s January 2018 in London, England. Edward Berthelot | Getty Images

“Young consumers really react to brands that have heritage and are authentic, and I think a lot of what we’re seeing is a result of that,” said Beth Goldstein, an analyst at NPD Group. Fanny packs, another staple of the 90s, are the largest growing category in the bag market this year, with sales up 50%, according to data from NPD. “If you look back, it was considered dorky and ugly,” Goldstein said. “It’s been very popular, and is continuing to grow.” Athletic companies such as Nike, Adidas, and Reebok have also all brought back styles from their 1990s collections. Many sneakers in the brands’ new releases are similar to Fila’s shoe and feature chunky silhouettes that evoke memories of backwards caps and neon windbreakers.

High-fashion collaborations

Though it may be hard to picture, many of these looks first gained traction on the runway. They were shown off in collections from luxury fashion brands, according to Thornton from The Doneger Group. “The ugly trend in footwear was really started and rooted in Balenciaga,” she said, whose version of dad sneakers sell for $900 or more a pop. “The kick-off for ugly becoming cool was the high end.” Recognizing it could make a high-fashion splash, Crocs and Balenciaga collaborated to design a collection of brightly colored clogs with 3-inch high platforms that clomped down a Paris runway last year.

Since then, the company has continued trying to expand its audience through collaborations. Last November, a pair that Crocs designed with rapper Post Malone sold out in 10 minutes. The company has also found partners in streetwear brands worshiped by young consumers, such as Alife and Chinatown Market. In June, Crocs announced a collaboration with Vera Bradley.

An Alife and Crocs collaboration. Source: Alife


Company: cnbc, Activity: cnbc, Date: 2019-07-15  Authors: jasmine wu
Keywords: news, cnbc, companies, taken, ugly, pair, company, soaring, stock, teen, shoes, sneakers, started, wear, popular, crocs, footwear, shoe, sent


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Nike reportedly pulled a shoe line from China after its designer supported Hong Kong protests

Nike halted the sale of a range of sports shoes in China after its Japanese designer showed support for Hong Kong protests in an Instagram post, the Financial Times reported on Wednesday. A proposed law to allow extraditions to mainland China and other jurisdictions triggered large-scale protests in Hong Kong in the last few weeks. Protesters said they’re concerned that Hong Kong is losing its legal independence and inching uncomfortably close to Beijing. The Hong Kong government has suspended t


Nike halted the sale of a range of sports shoes in China after its Japanese designer showed support for Hong Kong protests in an Instagram post, the Financial Times reported on Wednesday. A proposed law to allow extraditions to mainland China and other jurisdictions triggered large-scale protests in Hong Kong in the last few weeks. Protesters said they’re concerned that Hong Kong is losing its legal independence and inching uncomfortably close to Beijing. The Hong Kong government has suspended t
Nike reportedly pulled a shoe line from China after its designer supported Hong Kong protests Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-26  Authors: yen nee lee
Keywords: news, cnbc, companies, designer, kong, report, protests, reportedly, pulled, line, shoes, undercover, supported, nike, china, post, shoe, hong


Nike reportedly pulled a shoe line from China after its designer supported Hong Kong protests

An employee works next to shoes on display inside the flagship store of sporting-goods giant Nike in Shanghai on March 16, 2017.

Nike halted the sale of a range of sports shoes in China after its Japanese designer showed support for Hong Kong protests in an Instagram post, the Financial Times reported on Wednesday.

The line of limited-edition sports shoes are designed by Undercover, the brand of Japanese designer Jun Takahashi, according to the report. Several Chinese retailers withdrew those shoes from sale without explanation, the FT reported.

Earlier this month, Undercover posted on its Instagram account a photo of protesters with the slogan “no extradition to China,” according to the report. That post reportedly attracted backlash from Chinese social media users.

Undercover deleted the post, saying that it was an “individual opinion” that was put up by mistake, the newspaper said. The designer and Nike didn’t immediately reply to CNBC’s request for comment.

A proposed law to allow extraditions to mainland China and other jurisdictions triggered large-scale protests in Hong Kong in the last few weeks. Protesters said they’re concerned that Hong Kong is losing its legal independence and inching uncomfortably close to Beijing.

The Hong Kong government has suspended the bill indefinitely but protests have persisted in the city.

For the full report on Nike pulling a line of sports shoes from China, read the Financial Times.


Company: cnbc, Activity: cnbc, Date: 2019-06-26  Authors: yen nee lee
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The cost of your shoes could jump thanks to the US-China trade war

The cost of your sneakers or high heels could soon jump, thanks to another round of tariffs under consideration by the Trump administration as part of an ongoing trade war with China. The list includes footwear — everything from sneakers to sandals, golf shoes, rain boots and ski shoes. Should the tariff increase ultimately take effect, analysts say consumers would feel the brunt of the impact. FDRA said a popular type of canvas “skate” sneaker, currently retailing at $49.99, with a 25% tariff,


The cost of your sneakers or high heels could soon jump, thanks to another round of tariffs under consideration by the Trump administration as part of an ongoing trade war with China. The list includes footwear — everything from sneakers to sandals, golf shoes, rain boots and ski shoes. Should the tariff increase ultimately take effect, analysts say consumers would feel the brunt of the impact. FDRA said a popular type of canvas “skate” sneaker, currently retailing at $49.99, with a 25% tariff,
The cost of your shoes could jump thanks to the US-China trade war Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-14  Authors: lauren thomas
Keywords: news, cnbc, companies, war, footwear, billion, jump, shoes, increase, trade, thanks, tariff, cost, tariffs, 25, china, working, uschina


The cost of your shoes could jump thanks to the US-China trade war

The cost of your sneakers or high heels could soon jump, thanks to another round of tariffs under consideration by the Trump administration as part of an ongoing trade war with China.

The White House on Monday released a fresh list of about $300 billion in Chinese goods that could get hit with 25% tariffs, if President Donald Trump decides to move forward with his threat. The list includes footwear — everything from sneakers to sandals, golf shoes, rain boots and ski shoes.

Should the tariff increase ultimately take effect, analysts say consumers would feel the brunt of the impact. And the American footwear industry is particularly dependent on China.

In 2017, China accounted for about 72% of all footwear imported into the U.S., according to the American Apparel and Footwear Association. The U.S. imported $11.4 billion worth of footwear from China last year, according to data from the U.S. Census Bureau.

“While brands have moved their production into other countries in Asia because labor costs are lower there, everybody is still making shoes in China,” said Matt Powell, a sports analyst for NPD Group. “The Chinese have years of expertise. They tend to be the best at making high-value product.”

Both Nike and Adidas — the top two sneaker makers in the U.S. by sales — have steadily been easing their reliance on China, shifting production to Vietnam instead. Both companies declined to comment when reached by CNBC.

Puma has said it’s working to do more of the same. But China still dominates when it comes to footwear manufacturing.

“For a lot of working families who buy shoes at Walmart, Target and these other retailers … a ton of volume runs through [China], ” said Matt Priest, the president and CEO of the Footwear Distributors and Retailers of America, a trade organization. The proposed tariffs on footwear “are concerning to say the least,” he said. “It’s every single type of shoe.”

FDRA said a popular type of canvas “skate” sneaker, currently retailing at $49.99, with a 25% tariff, could increase to $65.57. The price of a typical hunting boot would increase from $190 to $248.56. And a popular performance running shoe could jump from $150 to $206.25, FDRA said.

Ultimately, a 25% tariff on footwear could cost shoppers more than $7 billion each year, Priest said — what he called a “conservative” estimate.

— CNBC’s Jessica Golden contributed to this reporting.

WATCH: Cramer explains which businesses have the most exposure to the trade war


Company: cnbc, Activity: cnbc, Date: 2019-05-14  Authors: lauren thomas
Keywords: news, cnbc, companies, war, footwear, billion, jump, shoes, increase, trade, thanks, tariff, cost, tariffs, 25, china, working, uschina


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Yankees star Giancarlo Stanton makes $28 million a year but still shops at TJ Maxx

Actress Debra Messing, who is worth an estimated $20 million, refuses to pay full price for clothes. “I was taught that from a very very young age,” she tells CNBC Make It. “My mother would basically say, ‘You’re stupid if you go to the mall and pay full price if you can go to T.J. Maxx and get it for less.’ “My ‘broke habit’ still is my clothing and shoes,” he told Maverick Carter on a 2018 episode of UNINTERRUPTED’s “Kneading Dough.” “If I like the clothing, if I like the shoes, I’ll wear thos


Actress Debra Messing, who is worth an estimated $20 million, refuses to pay full price for clothes. “I was taught that from a very very young age,” she tells CNBC Make It. “My mother would basically say, ‘You’re stupid if you go to the mall and pay full price if you can go to T.J. Maxx and get it for less.’ “My ‘broke habit’ still is my clothing and shoes,” he told Maverick Carter on a 2018 episode of UNINTERRUPTED’s “Kneading Dough.” “If I like the clothing, if I like the shoes, I’ll wear thos
Yankees star Giancarlo Stanton makes $28 million a year but still shops at TJ Maxx Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-29  Authors: kathleen elkins, tom szczerbowski, getty images sport, getty images, -giancarlo stanton, new york yankee
Keywords: news, cnbc, companies, 28, maxx, makes, clothing, shoes, wearing, stanton, million, price, jeans, shops, yankees, gronkowski, tj, wear, giancarlo, star, ill, pay, clothes


Yankees star Giancarlo Stanton makes $28 million a year but still shops at TJ Maxx

Stanton’s not the only celebrity who appreciates a bargain.

Actress Debra Messing, who is worth an estimated $20 million, refuses to pay full price for clothes. “I was taught that from a very very young age,” she tells CNBC Make It.

“My mother would basically say, ‘You’re stupid if you go to the mall and pay full price if you can go to T.J. Maxx and get it for less.’ And nowadays, with the apps and everything, there are so many places where you can get things on sale that I just won’t walk into a place and pay full price.”

And New England Patriots tight end Rob Gronkowski, who recently announced that he’s retiring from football at age 29, is also frugal when it comes to his wardrobe. “My ‘broke habit’ still is my clothing and shoes,” he told Maverick Carter on a 2018 episode of UNINTERRUPTED’s “Kneading Dough.” “If I like the clothing, if I like the shoes, I’ll wear those shoes and I’ll wear that clothing down to the rags.”

He’ll sometimes wear a favorite pair of jeans “seven days straight,” he said, adding: “I make sure I throw them in the washer, like, Day 3.”

Wearing the same thing and getting the most out of his clothes feels natural, said Gronkowski, who grew up using hand-me-downs: “Whatever my brothers had — hockey equipment, baseball equipment, even clothes — [my parents] used to just hand it down to us kids. That’s why I just feel like I have no problem ever just wearing the same shirt, wearing the same jeans, shorts, until I totally got to finally get rid of them.”

Don’t miss: 5 rich NFL stars who live like they’re broke

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Company: cnbc, Activity: cnbc, Date: 2019-03-29  Authors: kathleen elkins, tom szczerbowski, getty images sport, getty images, -giancarlo stanton, new york yankee
Keywords: news, cnbc, companies, 28, maxx, makes, clothing, shoes, wearing, stanton, million, price, jeans, shops, yankees, gronkowski, tj, wear, giancarlo, star, ill, pay, clothes


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Yankees star Giancarlo Stanton makes $28 million a year but still shops at TJ Maxx

Actress Debra Messing, who is worth an estimated $20 million, refuses to pay full price for clothes. “I was taught that from a very very young age,” she tells CNBC Make It. “My mother would basically say, ‘You’re stupid if you go to the mall and pay full price if you can go to T.J. Maxx and get it for less.’ “My ‘broke habit’ still is my clothing and shoes,” he told Maverick Carter on a 2018 episode of UNINTERRUPTED’s “Kneading Dough.” “If I like the clothing, if I like the shoes, I’ll wear thos


Actress Debra Messing, who is worth an estimated $20 million, refuses to pay full price for clothes. “I was taught that from a very very young age,” she tells CNBC Make It. “My mother would basically say, ‘You’re stupid if you go to the mall and pay full price if you can go to T.J. Maxx and get it for less.’ “My ‘broke habit’ still is my clothing and shoes,” he told Maverick Carter on a 2018 episode of UNINTERRUPTED’s “Kneading Dough.” “If I like the clothing, if I like the shoes, I’ll wear thos
Yankees star Giancarlo Stanton makes $28 million a year but still shops at TJ Maxx Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-29  Authors: kathleen elkins, tom szczerbowski, getty images sport, getty images, -giancarlo stanton, new york yankee
Keywords: news, cnbc, companies, 28, maxx, makes, clothing, shoes, wearing, stanton, million, price, jeans, shops, yankees, gronkowski, tj, wear, giancarlo, star, ill, pay, clothes


Yankees star Giancarlo Stanton makes $28 million a year but still shops at TJ Maxx

Stanton’s not the only celebrity who appreciates a bargain.

Actress Debra Messing, who is worth an estimated $20 million, refuses to pay full price for clothes. “I was taught that from a very very young age,” she tells CNBC Make It.

“My mother would basically say, ‘You’re stupid if you go to the mall and pay full price if you can go to T.J. Maxx and get it for less.’ And nowadays, with the apps and everything, there are so many places where you can get things on sale that I just won’t walk into a place and pay full price.”

And New England Patriots tight end Rob Gronkowski, who recently announced that he’s retiring from football at age 29, is also frugal when it comes to his wardrobe. “My ‘broke habit’ still is my clothing and shoes,” he told Maverick Carter on a 2018 episode of UNINTERRUPTED’s “Kneading Dough.” “If I like the clothing, if I like the shoes, I’ll wear those shoes and I’ll wear that clothing down to the rags.”

He’ll sometimes wear a favorite pair of jeans “seven days straight,” he said, adding: “I make sure I throw them in the washer, like, Day 3.”

Wearing the same thing and getting the most out of his clothes feels natural, said Gronkowski, who grew up using hand-me-downs: “Whatever my brothers had — hockey equipment, baseball equipment, even clothes — [my parents] used to just hand it down to us kids. That’s why I just feel like I have no problem ever just wearing the same shirt, wearing the same jeans, shorts, until I totally got to finally get rid of them.”

Don’t miss: 5 rich NFL stars who live like they’re broke

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Company: cnbc, Activity: cnbc, Date: 2019-03-29  Authors: kathleen elkins, tom szczerbowski, getty images sport, getty images, -giancarlo stanton, new york yankee
Keywords: news, cnbc, companies, 28, maxx, makes, clothing, shoes, wearing, stanton, million, price, jeans, shops, yankees, gronkowski, tj, wear, giancarlo, star, ill, pay, clothes


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Rob Gronkowski kept a ‘broke habit’ while making millions in the NFL

New England Patriots tight end Rob Gronkowski announced on Sunday that he’s retiring from football at age 29. The announcement means that Gronkowski will end his $54 million contract with the Patriots a year early. “My ‘broke habit’ still is my clothing and shoes,” he told Maverick Carter on a 2018 episode of UNINTERRUPTED’s “Kneading Dough.” “If I like the clothing, if I like the shoes, I’ll wear those shoes and I’ll wear that clothing down to the rags.” It took Gronkowski a long time to decide


New England Patriots tight end Rob Gronkowski announced on Sunday that he’s retiring from football at age 29. The announcement means that Gronkowski will end his $54 million contract with the Patriots a year early. “My ‘broke habit’ still is my clothing and shoes,” he told Maverick Carter on a 2018 episode of UNINTERRUPTED’s “Kneading Dough.” “If I like the clothing, if I like the shoes, I’ll wear those shoes and I’ll wear that clothing down to the rags.” It took Gronkowski a long time to decide
Rob Gronkowski kept a ‘broke habit’ while making millions in the NFL Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-25  Authors: emmie martin, kathleen elkins, michael reaves, getty images sport, getty images
Keywords: news, cnbc, companies, kept, money, wearing, broke, habit, making, shoes, gronkowski, jeans, ill, clothing, rob, wear, millions, nfl, patriots, football


Rob Gronkowski kept a 'broke habit' while making millions in the NFL

New England Patriots tight end Rob Gronkowski announced on Sunday that he’s retiring from football at age 29.

The announcement means that Gronkowski will end his $54 million contract with the Patriots a year early. But even without collecting a paycheck, the football star will have plenty of money to fall back on: Gronkowski hasn’t touched a dime of this NFL salary or signing bonuses. Instead, he chose to live off of his endorsement money throughout his career.

He’s particularly frugal when it comes to his wardrobe. “My ‘broke habit’ still is my clothing and shoes,” he told Maverick Carter on a 2018 episode of UNINTERRUPTED’s “Kneading Dough.” “If I like the clothing, if I like the shoes, I’ll wear those shoes and I’ll wear that clothing down to the rags.”

He’ll sometimes wear a favorite pair of jeans “seven days straight,” he said, adding: “I make sure I throw them in the washer, like, Day 3.”

Wearing the same thing and getting the most out of his clothes feels natural, said Gronkowski, who grew up using hand-me-downs: “Whatever my brothers had — hockey equipment, baseball equipment, even clothes — [my parents] used to just hand it down to us kids. That’s why I just feel like I have no problem ever just wearing the same shirt, wearing the same jeans, shorts, until I totally got to finally get rid of them.”

It took Gronkowski a long time to decide to splurge on one luxury: a diamond necklace. “I finally went out and bought myself a chain,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-03-25  Authors: emmie martin, kathleen elkins, michael reaves, getty images sport, getty images
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‘Shark Tank’ star Kevin O’Leary’s top advice to his younger self

O’Leary frequently preaches the importance of saving and investing, and recommends that young people harness the magic of compounding returns. “You don’t need that problem.” “So if you’re 20 — listen to what Mr. Wonderful is saying here — you don’t need 50 shirts,” he says. Don’t miss: Kevin O’Leary shares his best advice about paying off your mortgageDisclosure: CNBC owns the exclusive off-network cable rights to ABC’s “Shark Tank.”


O’Leary frequently preaches the importance of saving and investing, and recommends that young people harness the magic of compounding returns. “You don’t need that problem.” “So if you’re 20 — listen to what Mr. Wonderful is saying here — you don’t need 50 shirts,” he says. Don’t miss: Kevin O’Leary shares his best advice about paying off your mortgageDisclosure: CNBC owns the exclusive off-network cable rights to ABC’s “Shark Tank.”
‘Shark Tank’ star Kevin O’Leary’s top advice to his younger self Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: sarah berger, courtesy of kevin oleary
Keywords: news, cnbc, companies, youre, self, need, tank, worry, pair, advice, 20, star, kevin, shoes, oleary, shark, younger, olearys, dont, pairs


'Shark Tank' star Kevin O'Leary's top advice to his younger self

It’s the same reason O’Leary refuses to pay even $2.50 for a cup of coffee; he knows if he makes that coffee at home for pennies, he can put the savings to better use.

O’Leary frequently preaches the importance of saving and investing, and recommends that young people harness the magic of compounding returns.

“When you’re 21 years old, or 20 or 18 or 19 and you start putting aside 10 percent of what you make, [you could have] over $1,000,000 by the time you’re 65,” O’Leary previously told CNBC Make It. “If no one else is going to worry about your retirement, I want you to worry about it.”

O’Leary has added a string of zeros to the number of dollars in his bank account since he was 20, so he is now personally willing to spend on investment pieces that will last for years and on his favorite splurge, $150 underwear.

But that doesn’t mean he’s wasteful. O’Leary tells CNBC Make It he only wears four pairs of shoes — two pairs of Prada shoes, a pair of flip flops and a pair of sneakers for working out.

“I started off with probably 100 pairs of shoes. It’s like the Imelda Marcos problem,” O’Leary says, referring to the corrupt former first lady of the Philippines, who was famously known for her excessive shoe collection. “You don’t need that problem.”

“So if you’re 20 — listen to what Mr. Wonderful is saying here — you don’t need 50 shirts,” he says. You only need a handful of essentials, which he says includes six t-shirts, three pairs of jeans and three baseball caps.

Like this story? Subscribe to CNBC Make It on YouTube!

Don’t miss: Kevin O’Leary shares his best advice about paying off your mortgage

Disclosure: CNBC owns the exclusive off-network cable rights to ABC’s “Shark Tank.”


Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: sarah berger, courtesy of kevin oleary
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Alphabet’s Verily has been working on health-tracking shoes to measure movement, weight and falls

Alphabet’s life sciences arm, Verily, has been looking for partners to co-develop shoes with sensors embedded to monitor the wearer’s movement and weight, as well as to measure falls, CNBC has learned. If Verily progresses with the project, the shoes could have a wide range of health-related uses. Verily was previously known as Google Life Sciences, but in 2015 it became a separate company under Google’s parent company, Alphabet, and is tracked financially within Alphabet’s “Other Bets” segment.


Alphabet’s life sciences arm, Verily, has been looking for partners to co-develop shoes with sensors embedded to monitor the wearer’s movement and weight, as well as to measure falls, CNBC has learned. If Verily progresses with the project, the shoes could have a wide range of health-related uses. Verily was previously known as Google Life Sciences, but in 2015 it became a separate company under Google’s parent company, Alphabet, and is tracked financially within Alphabet’s “Other Bets” segment.
Alphabet’s Verily has been working on health-tracking shoes to measure movement, weight and falls Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-01  Authors: christina farr, tunart, getty images
Keywords: news, cnbc, companies, measure, google, healthtracking, company, movement, working, partners, sciences, verily, project, life, falls, shoes, weight, alphabets


Alphabet's Verily has been working on health-tracking shoes to measure movement, weight and falls

Alphabet’s life sciences arm, Verily, has been looking for partners to co-develop shoes with sensors embedded to monitor the wearer’s movement and weight, as well as to measure falls, CNBC has learned.

Three people familiar with the project say that the Google sister company has in recent months shown a prototype of the design in private meetings, hoping to attract partners to build the shoes and take them to market. It is not known whether the project is still active.

If Verily progresses with the project, the shoes could have a wide range of health-related uses. For instance, sudden weight gain can be a sign that the body is retaining fluid, which is a symptom of congestive heart failure. Another area of interest is fall detection, two of the people said, which could be useful for seniors in particular.

Verily did not respond to a request for comment.

Apple recently introduced fall detection into its latest Apple Watch, which also provides a way for users to reach emergency services in the event of a more serious tumble.

Verily was previously known as Google Life Sciences, but in 2015 it became a separate company under Google’s parent company, Alphabet, and is tracked financially within Alphabet’s “Other Bets” segment. In January, it raised $1 billion from Silver Lake and others to “increase flexibility and optionality,” according to the company’s CEO Andy Conrad, which could be an indicator of a potential spin-out from Alphabet.

The company has recruited dozens of engineers, scientists and health experts to its ranks. Many of its technical leads originally worked at Google.

Thus far, Verily has found success in teaming up with larger companies to develop and potentially commercialize its project ideas.

Aside from the shoes, Verily is working on several other hardware projects, including a stabilizing spoon to help people with movement disorders eat, a smartwatch for its clinical research efforts and a “smart” contact lens for age-related farsightedness or improving sight after a cataract surgery.

WATCH: Verily’s Project Baseline: ‘Google Maps for health’


Company: cnbc, Activity: cnbc, Date: 2019-02-01  Authors: christina farr, tunart, getty images
Keywords: news, cnbc, companies, measure, google, healthtracking, company, movement, working, partners, sciences, verily, project, life, falls, shoes, weight, alphabets


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Puma is releasing self-lacing smart shoes to take on Nike

Besides charging your phone, smart watch and wireless headphones, you could soon be charging your shoes too. Puma is about to release it’s own self-lacing training shoes that will rival Nike’s high-tech sneakers that can do the same. Puma’s smart shoes, called the Fi, are connected to its app which enables the laces to be tightened or loosened with the swipe of a finger. It currently only works with an Apple iPhone or Apple Watch, but will soon be available on Android phones too. Each smart trai


Besides charging your phone, smart watch and wireless headphones, you could soon be charging your shoes too. Puma is about to release it’s own self-lacing training shoes that will rival Nike’s high-tech sneakers that can do the same. Puma’s smart shoes, called the Fi, are connected to its app which enables the laces to be tightened or loosened with the swipe of a finger. It currently only works with an Apple iPhone or Apple Watch, but will soon be available on Android phones too. Each smart trai
Puma is releasing self-lacing smart shoes to take on Nike Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-31  Authors: uptin saiidi
Keywords: news, cnbc, companies, puma, watch, wireless, selflacing, smart, nike, releasing, training, battery, soon, apple, works, shoes, charging


Puma is releasing self-lacing smart shoes to take on Nike

Besides charging your phone, smart watch and wireless headphones, you could soon be charging your shoes too.

Puma is about to release it’s own self-lacing training shoes that will rival Nike’s high-tech sneakers that can do the same.

Puma’s smart shoes, called the Fi, are connected to its app which enables the laces to be tightened or loosened with the swipe of a finger. It currently only works with an Apple iPhone or Apple Watch, but will soon be available on Android phones too.

Each smart training shoe will have a battery based under its sole that can be charged through a wireless charging dock or by swapping out the batteries.

Puma’s designers said the battery would last about a week with normal use.


Company: cnbc, Activity: cnbc, Date: 2019-01-31  Authors: uptin saiidi
Keywords: news, cnbc, companies, puma, watch, wireless, selflacing, smart, nike, releasing, training, battery, soon, apple, works, shoes, charging


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5 rich NFL stars who live like they’re broke

The New England Patriots paid Rob Gronkowski a base salary of $8 million for the 2018 season. Instead, since his professional career started in 2010, he’s been living off of his endorsement money. Gronkowski is particularly frugal when it comes to his wardrobe. “My ‘broke habit’ still is my clothing and shoes,” he told Maverick Carter on a 2018 episode of “Kneading Dough,” adding, “If I like the clothing, if I like the shoes, I’ll wear those shoes and I’ll wear that clothing down to the rags.” H


The New England Patriots paid Rob Gronkowski a base salary of $8 million for the 2018 season. Instead, since his professional career started in 2010, he’s been living off of his endorsement money. Gronkowski is particularly frugal when it comes to his wardrobe. “My ‘broke habit’ still is my clothing and shoes,” he told Maverick Carter on a 2018 episode of “Kneading Dough,” adding, “If I like the clothing, if I like the shoes, I’ll wear those shoes and I’ll wear that clothing down to the rags.” H
5 rich NFL stars who live like they’re broke Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-24  Authors: kathleen elkins, randy holmes, disney abc television group, getty images, dustin bradford, patrick mcdermott, jeff gross, scott w grau, icon sportswire, corbis
Keywords: news, cnbc, companies, clothing, million, wear, live, ill, theyre, hes, wardrobe, 2018, touched, nfl, stars, rich, broke, washer, shoes


5 rich NFL stars who live like they're broke

The New England Patriots paid Rob Gronkowski a base salary of $8 million for the 2018 season. For 2019, it increases to $9 million. But though he’s one of the highest-paid tight ends in the league, the 29-year-old hasn’t touched “one dime of my signing bonus or NFL contract money,” he revealed in his 2015 book, “It’s Good to Be Gronk.”

Instead, since his professional career started in 2010, he’s been living off of his endorsement money.

Gronkowski is particularly frugal when it comes to his wardrobe. “My ‘broke habit’ still is my clothing and shoes,” he told Maverick Carter on a 2018 episode of “Kneading Dough,” adding, “If I like the clothing, if I like the shoes, I’ll wear those shoes and I’ll wear that clothing down to the rags.”

He’ll sometimes wear a favorite pair of jeans “seven days straight,” he said, though “I make sure I throw them in the washer, like, day three.”


Company: cnbc, Activity: cnbc, Date: 2019-01-24  Authors: kathleen elkins, randy holmes, disney abc television group, getty images, dustin bradford, patrick mcdermott, jeff gross, scott w grau, icon sportswire, corbis
Keywords: news, cnbc, companies, clothing, million, wear, live, ill, theyre, hes, wardrobe, 2018, touched, nfl, stars, rich, broke, washer, shoes


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