VF Corp.-owned Vans and Crocs brands are picking up some “high heat,” according to Needham analyst Tom Nikic.

In a research note on the sneaker resale market, Nikic noticed green shoots for two recently-challenged brands: Vans and Crocs.

Vans last month released a version of its classic Old Skool shoe decorated with pearls. Unlike other 2025 limited edition launches sold mostly at boutiques, this pearlized Old Skool shoe ws sold at Vans’ direct-to-consumer channel and also at large retailers that include Foot Locker.

According to Nikic, “It seems to have sold through quickly in larger quantities [than] 2025’s limited-edition releases, potentially boding well for improving brand heat.”

The Crocs brand made the analyst’s tracker list this month due to two successful product launches last month. One was a collaboration with toy giant Lego that made a Crocs clog look like a giant red Lego block. The other successful collaboration was with popular Japanese animation show One Piece. According to Nikic, “both launches sold out and are trading at resale premiums.”

When VF posted third quarter earnings, in January, CEO Bracken Darrell told analysts that Vans’ turnaround strategy is “starting to deliver” as VF remained focused on refreshing and upgrading the brand’s product lineup. And Crocs Inc.’s fourth quarter earnings report included a better-than-expected holiday quarter, noted CEO Andrew Rees. The company is in the process of accelerating its strategic actions to strengthen the long-term health of both its core Crocs and Hey Dude brands.

While there’s been more “sneaker heat” year-over-year, helped by 26 launches last month versus 16 launches a year ago, Nikic wasn’t sure if that trend will continue. He noted that the tailwind from tax refunds may start to wane, and sneakerheads could feel pinched by rising gas prices. Added to those concerns is a “relatively unexciting sneaker pipeline for April, the analyst noted.