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As of 2016, at least 100 million pairs of Crocs had been sold, though many cheap imitations of the shoes have also been purchased since they were first released for sale.
The Crocs clog made its debut in November 2002 at the Ft. These wild, wacky, and wonderful clogs were born in 2002 by three innovators: Scott Seamans, Lyndon Hanson, and George Boedbecker Jr. In its founding year, 2002, Crocs introduced an innovative shoe made of a revolutionary material called Croslite.
This can only be achieved through a firm with extensive knowledge, experience, and innovative strategies. To determine the strengths of the company potential, weaknesses, opportunities, and threats, it is necessary to conduct a SWOT analysis by Crocs.
Crocs At A Glance – Crocs SWOT Analysis
Company: Crocs, Inc.
Founders: Lyndon Hanson | George Boedecker | Jr. Scott Seamans
Year of establishment: 2002, Boulder, Colorado, United States
CEO: Andrew Rees
Headquarters: Broomfield, Colorado, United States
Employees (Dec 2020): 4,014
Ticker Symbol: CROX
Annual Revenue (Dec 2020): US$1 Billion
Profit net income (Dec 2020): US$361 Million
Products & Services: Wholesale trade, retail & consumer services | Clothing & clothing accessories | Clothing | Hats | Sunglasses | Gardening kneepads |
Company Website: www.crocs.com
Top Crocs Competitors
Competitors: Bata | Skechers | Johnston & Murphy | Nine West | Geox | Timberland | Wolverine Worldwide | Hotter | Converse | Nike | Dr. Martens | Skechers U.S.A. | Jimmy Choo | Zalando | MARYPAZ | New Balance |
Crocs SWOT Analysis – SWOT Analysis Of Crocs
SWOT Analysis Of Crocs analyzes the brand based on its strengths weak points, weaknesses, opportunities, and threats. With Crocs SWOT Analysis it is clear that the advantages and disadvantages are internal factors, while threats and opportunities are external elements. Here we are going to talk about Crocs SWOT Analysis. Below Is The Detailed SWOT Analysis Of Crocs.
Crocs Strengths – Crocs SWOT Analysis
1. Connection With famous people: Company has a prominent presence in social media space with five million users across digital media. Crocs have been linked to international celebrities like Drew Barrymore, John Cena, Yoona Lim and Henry Lau in recent times. Niche Product Line The 10th most popular brand that is not athletic, Crocs focus on a small number of products like clogs, sandals like slides, flips and flips within the range of products that are aiding the company in catering to the requirements of a particular segment of customers.
2. Integrated Value delivery System: Synergies along its value delivery channel has assisted the company sell more than 55 million pairs of footwear in 2016 through wholesale, retail outlets owned by the company as well as e-commerce sites. It is closely working with its logistics partners to improve efficiency and operational efficacy and improving the effectiveness of its distribution channels.
3. The design for its shoes: Crocs come with a broad selection of products and are made to be waterproof and comfortable.
Crocs Weaknesses – Crocs SWOT Analysis
1. Company-owned Outlets: Although the company in the footwear industry is operating with the franchise model and companies-owned outlets Crocs has 556 corporate-owned outlets which suggests that the company has created redundant assets, which could impact its profit. The product myopia of companies such as Nike, Adidas, and others provide a broad range of shoes from casual wear, sportswear , and formal wear, but Crocs being in the only segment that is not athletic could hinder its profits in a marketplace.
2. Safety Issues: The substance that is used by Crocs is not biodegradable and hazardous as it slips across the surface and can cause other health issues. .
Crocs Opportunities – Crocs SWOT Analysis
1. Diversification to the sector of business: Since it is focused on non-athletic business sectors, diversifying to different segments and businesses like purses, travel bags etc. can help increase its profit.
2. A Changing Lifestyle: With the increasing population of developed countries and shifting tastes and preferences, the level of literacy of emerging economies resulted in the high need for shoes.
3. Market development: Due to high competition in both developed and developing nations , entering the new markets is the only way to be successful in the coming years.
4. Line of products advancement: Expanding its product line will provide a whole new range of possibilities as well as simultaneously it will aid in distinguishing itself from its rivals.
5. Backward integration: Integrating the value chain by integrating it backwards can assist the company in getting its patent rights secured and further integrate its R&D.
Crocs Threats – Crocs SWOT Analysis
1. Local competition from player: Although Crocs is a international brand, it’s facing intense competition from counterfeit merchandise, fashionable items from other brands such as Wolverine World Wide ,Sketchers USA , Nike Inc., Reebok, Lotto, and Adidas and many more.
2. Short Life Cycle: Continuously changing lifestyle and fashions that result in a shorter timeframes of the styles of footwear pose the biggest threat as the industry is concerned.
3. Supplier Dominance: Because a large portion part of the production process is outsourced Value-chain and suppliers are more powerful in bargaining with the business.
This is the SWOT report that Crocs has done. Please let us know if you have additional suggestions to add.
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