Once-Trendy Crocs Could Be on Their Last Legs

Washington Post ^ | 7-16-09 | Ylan Q. Mui

[Justaham]

Crocs were born of the economic boom.

The colorful foam clogs appeared in 2002, just as the country was recovering from a recession. Brash and bright, they were a cheap investment (about $30) that felt good and promised to last forever. Former president George W. Bush wore them. Aerosmith lead singer Steven Tyler wore them. Your grandma wore them. They roared along with the economy, mocked by the fashion world but selling 100 million pairs in seven years.

Then the boom times went bust, and Crocs went to the back of the closet.

The company had expanded to meet demand, but financially pressed customers cut back. Last year the company lost $185.1 million, slashed roughly 2,000 jobs and scrambled to find money to pay down millions in debt. Now it's stuck with a surplus of shoes, and its auditors have wondered if it can stay afloat. It has until the end of September to pay off its debt.

[sauropod]

ping!

[Clump]

THOSE ARE ABOUT THE ONLY SHOES MY 3 YEAR OLD OY WILL WEAR. HIS FEAT ARE SO WIDE, HE IS UNCOMFORTABLE IN EVERYTHING ELSE. BAILOUT!!!

[Clemenza]

Next trend: Hawaiianas (sp) from Brazil.

[FlingWingFlyer]

I can already hear the WaPo editor, "Ylan! I want you to get out there and find out how the Croc industry is doing!" LOL!

Fools! And the "media" wonders why they are going broke.

[Alex Murphy]

Last year the company lost $185.1 million, slashed roughly 2,000 jobs and scrambled to find money to pay down millions in debt. Now it's stuck with a surplus of shoes, and its auditors have wondered if it can stay afloat. It has until the end of September to pay off its debt.

Ping for later

[WayneS]

Are they those stupid rubber shoes?

[trisham]

They may be the ugliest shoes ever made.

[retrokitten]

Yes.

[Richard Kimball]

There's no way they could build a long term business on one single fashion item, regardless of how good it is. The failure to innovate to other products hurt them, although with the economy right now, I don't know that it would have made any difference.

Shoe types are fads, particularly fashion shoes, which was the nature of Crocs. Doc Marten's survives, but it's a very small niche. Dittos for Converse. I know Converse was bought out by Nike, so it's not a stand alone company anymore. Teva has survived as a small brand. The thing is that those companies developed a range of styles. Crocs has only had one successful style in different colors.

[Kimmers]

The only feet these crocks are cute on are kids feet, so adorable.....I have heard that from other parents that is the only shoe their child will wear....plus they can be hosed off, no laces, pretty indestructible....and above all, comfy for those pudgy cute kid feet......

[Joe 6-pack]

"Next trend: Hawaiianas (sp) from Brazil."

Heels from Kenya are the in thing right now.

[retrokitten]

They are eye-sores.

But I am sure someone will be there to fill the ugly rubber shoe gap that Crocs once filled.

[WayneS]

So I’ve heard...

[GOP_Party_Animal]

I lost interest in buying them as gifts when they stopped making them in Colorado and started making them in China. You would think that there would be some cache in American made footwear, but maybe not.

[Mr. Blonde]

Toms

[retrokitten]

They actually do have other items then the one style and clothing, too. All ugly.

[TSgt]

I love my furry Crocs!

[WayneS]

It looks like their only hope is for Bernanke or Geitner or perhaps even the Obamessiah himself to declare them “Too Big to Fail”.

Then we’ll ALL be buying ugly rubber shoes... even if we don’t want them.

[Justaham]

Havaianas sandals and flip-flops have been in fashion for years. I think it is very expensive for a flip-flop - about $18.00 a pair for women.