History of Crocs

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Crocs, Incorporated is a shoe manufacture founded by three friends to produce and distribute a clog for water sports enthusiasts. It quickly expanded its retail stores and product line since November 2002, the first model (Beach) of Crocs was unveiled at the Boat show in Florida and sold all 200 pairs. After its initial launch, the year 2004 to 2007 is the period of development & acquisition. The shoes were sold by wide range of distribution channels. The channels included the traditional stores, retailers, Department stores and other channels like website, gift shops, the health and beauty stores and so on. Some may puzzle why the ugly hole shoes are so popular. I think that’s because the characteristics of crocs. It’s light, colorful, water-resistant, odor-free and costless. And after so many popular celebrities wearing it, the comfort, innovation designed shoes soon attracted many crazy fans. For further development, Crocs shift to third party-operated facilities and addition of direct sale channels such as Kiosks and company-owned stores to improve margins. Besides the inner development, Crocs also acquired many companies. In June 2004, the company purchased Foam Creations and their manufacturing operations to secure the exclusive rights to the proprietary resin called Croslite. In October 2006, Crocs acquired Fury & EXO. Fury produced hockey equipment and EXO make EVA-based products. In December 2006, Crocs acquired Jibbitz, a manufacturer of decorations called charms that fit in the ventilation holes and personalized the shoes. In February 2007, Crocs acquired Ocean Minded, which manufactured leather & EVA-based footwear. In August 2007, Crocs purchased Bite, a shoe and sandal maker. After the expanding period, in February 2006, Crocs, Inc went public. Fiscal year 2006 revenue soared to about $354 million from $108 million in 2005; sales growth

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