Krispy Kreme and Crocs are teaming up to introduce a doughnut-inspired pair of shoes. The owners of that footwear will get a free doughnut on Aug. 9.

Krispy Kreme announced on Tuesday, July 15 the company would be offering customers a deal in celebration of its 88th birthday on July 18.

As a result, Krispy Kreme's short interest had increased to 14.2% of shares outstanding, but a higher 26.4% of its publicly traded float, as of June 30. That's a high-enough short interest, especially in a lower-float stock, to cause a big move on a surge of unexpected buying. And it appears meme stock traders happened to target Krispy Kreme today.

On July 23, Krispy Kreme and Crocs revealed their first-ever collaboration: limited-edition Krispy Kreme x Crocs Classic Clogs. The brands, both known for their hole-filled products, have used the aesthetic of Krispy Kreme’s shops as inspiration for the whimsical shoe.

There is also a way to get a free doughnut from Krispy Kreme if you simply show up wearing Crocs. Here's what to know.

Krispy Kreme and Crocs are launching their first-ever partnership with a Croc inspired by a classic glazed doughnut. Slated for release on Aug. 5 in adult sizes, each pair of the limited-edition Classic Clogs comes equipped with customizable icing and sprinkle toe caps.

To celebrate its 88th birthday, the chain will let you buy a dozen Original Glazed donuts for under a buck, but you have to make an additional purchase. If you’re on the way to the office this morning and want to pick up some treats for your colleagues,

JAB Holding Co., the investment firm behind Krispy Kreme Inc., signed a lease at a new 1,002-foot-tall tower on Manhattan’s Fifth Avenue.