The question of its future is no exception

Adorable for some, ridiculous for others, Crocs footwear continues to create controversy. The question of its future is no exception. Beginning of August, quelques only days after having been sentenced by the Wall Street Journal to an end, the company surprised analysts with quarterly results superior to their expectations. The title has almost doubled since. At about 6.50 $, he found his level of a year ago. "The rumors of our demise have been greatly exaggerated," joked the President and CEO, John Duerden, paraphrasing Mark Twain.

Former Reebok CEO was hired in March to the society of Colorado of the rut after a year marked by a sharp reverse of fortune. At 722 million dollars, the chiffre of business has fallen by 15. And the net result swung into the red with a loss of 183.6 million, against a profit of 168 million a year earlier. Retrieval operations, inter alia, cost very expensive. The new leader begins with the problem of debt. "John Duerden has achieved much in a short time, including in attacking of immediately to the need to restore the relations with distributors, a sensitive and essential point for the future of Crocs", said Jeffrey Klinefelter, financial analyst at Piper Jaffray.

Born on a boat

Hooks was born on a sailboat off the coast of Florida, in May 2002, when Scott Seamans, one of the founders, exhibits to two longtime friends, a pair of Waldies. These mules fully moulded polyethylene resin and punched holes are manufactured by the Canadian end Project for a kayak equipment vendor. Closed to the heel by a strap, the object, lavable, resilient and resistant to bad odours, would be a shoe-boat ideal, exceptionally comfortable and cheap, this Scott Seamans. End of 2002, participants in the Fort Lauderdale boat show are hands on the first 200 pairs. High fashion is born.

Declined in more than 20 colors, shoes are soon tree by Jack Nicholson and George Bush, are in Lighthouse drama "Desperate Housewives", while the influential Oprah Winfrey presenter in fact the article to the viewers. Nurses jurent, doctors praise their ergonomic virtues and children collect buttons Jibbitz to adorn the holes.

Create a distribution network

Result, the annual turnover was multiplied by 10 entre 2003 and 2005. In 2006, it is the consecration on Wall Street, with the introduction in the most successful grant ever made by a manufacturer of shoes. Crocs did not hesitate either to practise the high way. The redemption of Foam Creations (former end Project) has developed an offside several distributors of identical chaussures. Fostered by its growth, the company dragged then the courts ten competitors accused of violation of intellectual property. But convince the juges. Finally, the anti-competitive pressure on distributors contributed to darken relations already poisoned by a profit-sharing that goes wrong. "As long as the machine ran at full speed, it didn't matter." "Today, Crocs has lost its credibility, and his past arrogance could cost him dearly," said Philippe Nutt, a veteran of the industry consultant.

Crocs announced its intention to develop its own distribution network to strengthen the relationship with clients. However, "Restore the mark after the have thus diluted, in a market where competition cheap agree, will be a big challenge," view Jason Collins, consultant to the Gerson Lehrman Group, in reference to the fall in prices that allowed to liquidate excess inventory. Remains a watchword: innovate.