UPDATED 10/7/2020 5:02 p.m. ET: Justin Bieber has officially unveiled his collaboration with Crocs after teasing the footwear.

Available in a bright yellow colorway, the collab also comes with Bieber-designed Jibbitz charms. Many of the charms boldly feature the logo for Bieber's own brand, Drew House. The Crocs will be available via both the Crocs official site and the Drew House web store, retailing for $54.99.

The collaboration will be available on Oct. 13 at 12 p.m. ET, although quantities will be limited as with the Bad Bunny collab.

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Following the announcement that Justin Bieber has a collaboration with Crocs on the way, shares in the company have surged.

The Canadian popstar teased the collaboration on his Instagram alongside an image of Crocs floating in a pool. "Soon," he teased, while Crocs replied in the comments with a heart emoji. Just to confirm that it is a real collab on the way, Crocs also reposted Bieber's image on its Instagram Story. 

Business Insider reports that the teaser sent Crocs' share up by over 11 percent on Thursday, trading at a peak of $47.81. While shares later dropped slightly to $45.19 when the markets closed, it was still a 5.8 percent increase for the day. The collab comes as countless other musicians have worked with the brand, including Bad Bunny and Post Malone.

The news comes just as Bieber confirmed he will be performing on Saturday Night Live on Oct. 17, with guest host Issa Rae. He previously performed on the show earlier this year in a pre-coronavirus world ahead of the release of his album Changes

Since the release of Changes, he's released "Stuck With U" featuring Ariana Grande, and "Holy" with Chance the Rapper, although it remains to be seen what songs he will perform during his latest SNL appearance. In a socially distanced livestream last month, Chance and Bieber spoke about how they were both working on new albums. "I feel like we should talk about how fire your album is," Chance teased.

Biebz also recently urged his U.S. followers to register to vote, telling them "it is more important now than ever."

I have never been political but if you are in the US please register to VOTE. It is more important now then ever.

— Justin Bieber (@justinbieber) October 2, 2020