CROCS COMPANY AND BRAND HEALTHY AND STRONG
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Dear Friends,
You may have seen some negative press in the Hong Kong media recently containing incorrect information about the condition of the Crocs company and brand.
In fact, Crocs’ business is healthy and we continue to expand our product offerings and develop our brand globally and across Asia. As you know, many people love Crocs, and some people hate them - but nobody can argue with the fact that consumers appreciate their comfort, convenience, and value.
There are more than 100 million Crocs owners in 125 countries around the World.
Critics who suggest we are a one-shoe company couldn’t be more wrong. Crocs has continued to innovate by introducing new lines like Crocs Style and Crocs Sport, in addition to our famous “Every Day” products.
Today, we offer more than 120 styles of casual, comfortable footwear, including sandals, boots, heels, wedges and flats, along with our signature clogs. We also offer functional footwear for people who work on their feet, as well as products especially designed to help people who have foot or back problems.
CEO John Duerden has summarized Crocs’ position in the blogs below:
http://blog.crocs.com/2009/07/16/john-duerden-responds/#comments
We hope you can take the time to read his appraisal of Crocs business and prospects, and the overwhelmingly supportive responses received from happy consumers.
We value our customers and our business partners and we are grateful for your support of our brand and products.
Thank you very much for your attention.
Crocs Hong Kong Limited
John Duerden Responds
Today the Washington Post ran an article about Crocs, "Once-Trendy Crocs Could Be On Last Legs," which some of you may have seen, as it has quickly spread around the web. Here is what Crocs President and CEO, John Duerden, has to say about the story:
In response to the Washington Post's article about the health of Crocs, Inc., I'd like to clear up a few points. We sell comfortable, durable shoes in a wide variety of appealing styles for men, women and children, and offer great value. This is a good business to be in at a time when families are watching their budgets, and we're confident in the future of our company.
Critics who suggest we are a one-shoe company couldn't be more wrong. As we explained to the reporter, we currently have more than 120 styles of casual, comfortable footwear, including sandals, boots, heels, wedges, flats and functional footwear for people who work on their feet or who have foot or back problems, along with our signature clogs. Don't take my word for it - you can see for yourself an example of the variety of styles we offer such as wedges, flats, sandals, and more.
As the article correctly points out, we face challenges resulting from rapid growth. We've taken action to address those challenges, including aligning our production capacity to meet demand, reducing our overhead expenses and the size of our workforce, and paying down debt.
There are more than 100 million consumers in 125 countries that love our product. The Crocs brand is only five years old, and already it's almost as well-known as Nike and Adidas. It's an icon and whether people love it or hate it, they talk about it - as the article and the online response to it demonstrate.
Crocs shoes are perhaps the perfect product for a world in which value and simplicity are replacing avarice and over-consumption. We appreciate the support of our many loyal customers, retailers, investors and employees around the world.
John Duerden
President and CEO
Crocs, Inc.