Crocs to go Extinct?

[Echoes]

"After selling 100 millions pairs of the comfortable shoes in the past seven years, their American maker faces bankruptcy."


"It is now sitting on a warehouse full of unsold shoes and a dwindling number of feet willing to squeeze into them. Few in the retail industry appear to believe the company will survive."

telegraph.co.uk/finance/newsbysector/retailandconsumer/5850492/Crocs-face-extinction-as-maker-faces-bankruptcy.html

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.

"The company's toast," said Damon Vickers, who manages an investment fund at Nine Points Capital Partners in Seattle. "They're zombie-ish. They're dead and they don't know it."

Two summers ago, Nancy Fisher of the District bought two pairs of Crocs, one green and one pink, for her daughters. The girls, now 8 and 12, wore them constantly and even got charms to decorate the tops. This year, the shoes are forgotten.


"They were their go-to," Fisher said, "and now they're just really interested in flip-flops."

washingtonpost.com/wp-dyn/content/article/2009/07/15/AR2009071503672.html

 

[Street_a_Licious]

Can I get a Halleluja?

 

[Hebden]

Can I get a Halleluja?

^ You most definitely can!

I read the full article...the only problem seems to be that as the shoes are virtually indestructible they'll be around for a long time...still, no new Crocs hitting the streets is a very good thing.

 

[Susanna-Cole]

Oh my gosh, I read about this the other day and almost jumped up and down in joy! Then I ran downstairs to rub it in my sister's face (which was yes, kind of immature, but come on, it's crocs, I couldn't help myself ) because she likes and wears crocs, as does the rest of my family.

I definitely would like to shout "hallelujah!" at the mere possibility of crocs become extinct!

 

[TREVOFASHIONISTO]

YAAAAAAAAAAAAAAAAAAAAAAY!!!
they were comfortable(i tried on my brothers)
but soooo ugly

 

[Hipkitten]

It's a victory for fashion, but a loss for all of those who will lose jobs because of it.

 

[Label Basher]

About time. They are so disgusting.

You should have seen the look I gave my father when he got a pair. My mum took one look at my face and jumped in with "It's only to wear at our holiday house you won't be there" cause she knew I was revolted.

Anyway YAY

ONTD Livejournal

 

[-Veda-]

It's unfortunate that yes, the company and employees will be out of business but....everything passes away in time and this should have passed a long time ago!

A horrible example of American fashion innovation and design, an embarrassment to the new millennium/century

 

[planted]

Not to rain on your parade, but I think the reality that thousands will and have lost their job because the business is tanking probably should overshadow any relief felt by the mere fact that you won't have to look at a shoe anymore...

 

[Party_Vixen]

Label_Basher those gifs are killing me!

It is sad that many people will be losing their jobs, however I wee part of me is happy to hear this news. But I'm sure the copycats will still stick around.

 

[Street_a_Licious]

party vixen, you should have seen the celebration on ONTD a few days ago when THEY posted that article. those 2 gifs are NOTHING compared to that

 

[Party_Vixen]

^ Oh really... *runs off to check* .

 

[Miss Mod]

Yeah, I have to say it's really a shame for all those that lost their jobs. I can't say I'll miss crocs though. They're not totally extinct yet, I still see tons of tourists trooping around in them.

Maybe we'll look back at crocs in 10 years and remember them as one of those awkward trends that will hopefully never resurface. Kind of like knit ties with the square bottoms for men circa 1980....

 

[Street_a_Licious]

^ Oh really... *runs off to check* .

http://community.livejournal.com/ohnotheydidnt/37282829.html

it was effing epic. must have blown up the OPs inbox.

 

[CharlottefromCA]

Oh lol, I thought this thread was going to be about Hermes, Nancy Gonzales, and the like making/selling to many of their bags killing off crocs.. then I clicked because I was confused because they should be farmed no?

 

[Trista]

When I first heard this, I cheered a big cheer...and then went back to volunteering at the Bible day camp for kids that my church puts on and seemingly half the kids wore Crocs.

 

[strawberry daiquiri]

that's what happen when you make something so resembling indestructible floatation devices that they have close to zero repeat customers. The good people at Ugg at least had the foresight to make theirs perishable.

 

[skyefitsheaven]

Crocs were meant to be worn by nurses who are on their feet all the time, not for the general population. I am so glad these are going bye-bye so people will stop wearing them in atrocious colors everywhere they go.

 

[LoraineEliza]

ugh here in brazil, their still going strong, its like everyone planned to buy them on the same day! its incredible, personally i refuse to fall into this trend....their so.....big! lol might be confy but id rather wear my heels and suffer!

 

[ScarlettLover]

This was my exact reaction:

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