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Crocs

Crocs

Crocs is a Colorado-based casual footwear manufacturer.

Overview

Crocs is a Colorado-based casual footwear manufacturer. The company was founded in 2002 by Lyndon "Duke" Hanson and George Boedecker Jr. and has sold over 300 million pairs worldwide. The company has developed a large customer base in the middle and high school age ranges, with many adolescents opting to wear the shoe to school rather than a traditional sneaker.

History

Crocs was founded by Lyndon "Duke" Hanson and George Bodecker Jr. with the goal of developing, producing, and distributing a foam clog. The company acquired its clog design from a company called Foam Creations and was initially created to be boating shoe. The first shoe developed by Crocs was called the Beach, which was unveiled at a Fort Lauderdale Boat Show in 2001, selling its initially produced 200 pairs at launch. Crocs have since sold over 300 million pairs of its shoe.

In October of 2006, Crocs acquired Jibbitz, an accessory manufacturer which produces snap-in charms, for USD$10,000,000.

Patents and manufacturing

In June of 2004, Crocs purchased the company Foam Creations and its manufacturing operations to secure the rights to the proprietary foam resin of which Crocs are made, called Croslite. Third-party sources refer to Croslite as an injection-molded EVA foam, which is also a closed-cell resin that molds to the wearer's foot providing orthotic benefits, according to various podiatrists. Crocs presently holds one patent identified as U.S. Patent No. 6993858 B2 for "breathable workshoes and methods for manufacturing such." Crocs possesses three additional patents listed as follows:

Timeline

April 2021
Crocs reports revenues up 64% in first quarter.
January 11, 2021
Crocs' adjusted guidance sends the stock price flying upward, closing up 12.26% to $74.97 per share.
2021
Crocs is named to Fast Company's Annual List of the World's Most Innovative Companies for 2021.
December 1, 2020
Crocs announces a collaboration with R&B artist Post Malone.
2020
Crocs has appointed Nike executive Emma Minto as its new senior vice president and general manager.
2016
Crocs launches its first high-profile collaboration with designer Christopher Kane.
2009
Crocs teeters on the brink of bankruptcy in 2009, after making a loss of $185m the previous year.
October 2006
Crocs acquires Jibbitz for USD$10,000,000, with an additional $10 million incentive tied to earnings targets.
2002
Crocs is founded in Boulder, CO by Scott Seamans, Lyndon Hanson, and George Boedecker, Jr.

People

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Further reading

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Documentaries, videos and podcasts

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News

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Crocs, Inc.
June 7, 2021
www.prnewswire.com:443
/PRNewswire/ -- Crocs, Inc. (NASDAQ: CROX), a world leader in innovative casual footwear for women, men, and children, today announced that it will host an...
CNN
June 5, 2021
CTVNews
Just when we thought Crocs could not get any weirder, a new version of the foam clog features a psychedelic design complete with light-up mushrooms.
Crocs, Inc.
June 2, 2021
www.prnewswire.com:443
/PRNewswire/ -- Crocs, Inc. (NASDAQ: CROX), a global leader in innovative casual footwear for women, men and children, today announced its official...
Crocs, Inc.
May 25, 2021
www.prnewswire.com:443
/PRNewswire/ -- Crocs, Inc. (NASDAQ: CROX), a world leader in innovative casual footwear for women, men, and children, today announced that it will present at...
Priya Elan
May 15, 2021
the Guardian
Fashion trend sees the plastic shoes dominating the resale market traditionally ruled by trainers
Emily Canal
May 7, 2021
Business Insider
When it comes to the shoe, you either love or hate them. That's what led Crocs to a 64% revenue bump over last year.
Crocs, Inc.
May 6, 2021
www.prnewswire.com:443
/PRNewswire/ -- Crocs, Inc. (NASDAQ: CROX), a global leader in innovative casual footwear for women, men and children, today announced the return of its 'Free...
Sarah Saril
May 3, 2021
Business Insider
It's Teacher Appreciation Week and many retailers are celebrating by offering teacher-exclusive discounts. Here are the best ones we found.
Joanna Partridge
April 27, 2021
the Guardian
Company reports revenues up 64% in first quarter as shoppers seek comfort during the pandemic
Emily Graffeo
April 27, 2021
markets.businessinsider.com
Crocs stock jumped to a record high after the foam-clog maker crushed first quarter earnings. Shares of Crocs have gained nearly 333% in the last year.
Emily Graffeo
April 27, 2021
Business Insider
Crocs stock jumped to a record high after the foam-clog maker crushed first quarter earnings. Shares of Crocs have gained nearly 333% in the last year.
By Lora Jones
April 27, 2021
BBC News
The divisive footwear company's sales reached a record $460m in the first quarter of 2021, up 64%.
Crocs, Inc.
April 12, 2021
www.prnewswire.com:443
/PRNewswire/ -- Crocs, Inc. (NASDAQ: CROX), a world leader in innovative casual footwear for women, men, and children, today announced that on Tuesday, April...
Crocs, Inc.
March 9, 2021
www.prnewswire.com:443
/PRNewswire/ -- Crocs, Inc. (NASDAQ: CROX), a global leader in innovative casual footwear for women, men and children, ranked No. 2 on Fast Company's esteemed...
Crocs, Inc.
March 9, 2021
www.prnewswire.com:443
/PRNewswire/ -- Crocs, Inc. (NASDAQ: CROX), a world leader in innovative casual footwear for women, men, and children, today announced that it will present at...
Crocs, Inc.
March 8, 2021
www.prnewswire.com:443
/PRNewswire/ -- Crocs, Inc. ("Crocs") (Nasdaq: CROX) today announced the commencement of a $300 million offering of senior notes due 2029 (the "Notes") in a...
Crocs, Inc.
February 23, 2021
www.prnewswire.com:443
/PRNewswire/ -- Crocs, Inc. (NASDAQ: CROX) a world leader in innovative casual footwear for women, men, and children, today announced its fourth quarter and...
Barbara Smith
December 7, 2020
Business Insider
The comfort shoe brand and popular rapper are launching the Post Malone x Crocs Duet Max Clog II on Tuesday.
Ashley Carman
December 4, 2020
The Verge
Creators on Instagram are promoting their latest items: handmade Jibbitz, or charms, for Crocs. The shoes are trendy, likely due to a surge in sales during the COVID-19 pandemic.
Crocs, Inc.
December 4, 2020
www.prnewswire.com:443
/PRNewswire/ -- Crocs, Inc. (NASDAQ: CROX), a global leader in innovative, casual footwear for women, men and children, today announced their fifth...
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