crocs
| File:Crocs logo.jpg | |
| Company type | Public |
|---|---|
| Industry | Wholesale Trade, Retail & Consumer Services, Clothing & Clothing Accessories |
| Founded | 2002 |
| Headquarters | Niwot, Colorado |
| Products | shoes |
| Revenue | US$354.7 (mil.) (2006) |
| US$95.6 (mil.) (2006) | |
| US$64.4 (mil.) (2006) | |
Number of employees | 1130 (2006) |
| Website | www.crocs.com |
crocs Inc. (Nasdaq: CROX) is an American company founded by Lyndon "Duke" Hanson, Scott Seamans, and George Boedecker[1] in July 2002. Based in Boulder, Colorado the firm was created to market a lightweight plastic shoe first developed and manufactured by Foam Creations, Inc. of Canada. Originally intended as a boating/outdoor shoe because of its slip-resistant, non-marking sole, Crocs introduced its first model, the Crocs Beach, in November 2002 at the Ft. Lauderdale Boat Show, selling out the 1000 pairs produced at that time. Despite only a small marketing campaign, Crocs became popular in the United States and elsewhere, because of (according to the company) word of mouth praise for their comfort, bright colors, light weight (about six ounces), and quirky design. In June 2004, Crocs purchased Foam Creations and their manufacturing operations to secure exclusive rights to the proprietary foam resin they call "croslite". The foam forms itself to a wearer's feet, and offers purported medical benefits, based upon comments by a number of podiatrists.[2][3]
As of 2007 the popularity of the product line, as evidenced by high sales growth, has the characteristics of a sustained fad, accompanied by both ardent support[4] and disapproval.[5]
Crocs sponsored the 2006 Association of Volleyball Professionals (AVP) Tour.
On October 3 2006, Crocs purchased Jibbitz, manufacturer of accessories that snap into the holes in Crocs, for US$20 million after co-founder Hanson met the seven-year-old daughter of Jibbitz founder Sheri Schmelzer at a public swimming pool.[6]
Crocs received four patents covering various utility aspects of its footwear, U.S. Patent No. 6993858 B2 issued February 7, 2006, and U.S. Patent Nos. D517,788,, D517,789 and D517,790 issued on March 28, 2006. The Company also announced that it has filed complaints with the U.S. International Trade Commission (ITC) and the U.S. Federal District Court against 11 companies that manufacture, import or distribute products that Crocs believes infringe its patents.
Health and safety
Soft and pliable shoes, such as Crocs and flip-flops, came under scrutiny in 2006 when children suffered injuries after friction caused their shoes to melt and become caught in escalator mechanisms.[7][8]
Rapid City Regional Hospital changed its dress code in 2007 to prohibit open-top Crocs, citing safety concerns, but allowing closed-top "Rx" Crocs.[9] Blekinge hospital in Sweden has banned the wearing of Foppatoffels (as imported Crocs are known in Sweden) by hospital staff, due to the concern that the shoes may build up static electricity and thus interfere with electronic equipment.[10][11]
Crocs shoe products
Crocs come in a variety of different styles.
Colors
Crocs are produced in a variety of colors depending on model. The Beach and Cayman styles come in: black, pearl, chocolate, khaki, lime, sage, navy, sea blue, turquoise, light blue, purple, red, fuchsia, pink, bright yellow, butter, orange (coral), silver, army green, gold, charcoal, celery, sea foam, lavender, burgundy, cotton candy and sienna. Most other styles are produce in a palette of four to six colors or two-color combinations.
Reference
- ^ When Crocs attack, an ugly shoe tale Diane Anderson, Business 2.0 Magazine (CNNMoney.com), November 3, 2006, accessed February 2, 2007.
- ^ Not Such A Croc - Might a Fad Shoe's Health Claims Stand? Washington Post. August 1, 2006, accessed 2007-04-19.
- ^ Form 10-K for Crocs Inc. Crocs 2006 Annual Report. Yahoo!Finance. March 31, 2006. accessed 2007-04-29.
- ^ crocfans.com CrocFans website.
- ^ ihatecrocs.com IHateCrocs website.
- ^ Big Ideas, Big Bucks, The Birth of Jibbitz Oprah.com, Feb 2,2007, accessed Feb. 2, 2007.
- ^ Crocs can pose a danger on escalators ABC News. Kate Snow, October 5, 2006, accessed 2007-04-19.
- ^ Experts recommend caution while wearing clogs WMC-TV Memphis Tennessee. September 21, 2006, accessed 2007-04-19.
- ^ Holey Crocs get the boot at Regional Hospital Mary Garrigan, Rapid City Journal, February 1, 2007, accessed 2007-04-18.
- ^ Swedish hospital to ban 'Foppatoffels' The Local(Sweden), April 18, 2007, accessed on April 20, 2007.
- ^ Plastic clogs disrupt machinery in Swedish hospital Guardian Unlimited (AP), April 19, 2007, accessed April 19, 2007.