Crocs: They’re shoes that are marketed as comfortable and worth wearing, and the company has a current market cap of approximately $1.36 billion. For a pair of shoes that are considered so unfashionable by most people – yet worn by so many – it’s astounding to see a market cap in the billions. However, crocs are a big business. Regardless how unattractive they are, people love them. Read on to find out a few more things you didn’t know about the business.
Crocs Weren’t Supposed to Be Worn in Public
There’s a true statement if ever one was made. The company that created crocs did not intend for them to become shoes that are worn outside the house. In fact, they were designed as shoes people would wear when visiting the spa. It’s a shame no one got that memo.
Crocs Sold Out Immediately
When the intended spa shoe was debuted in 2002, it was at the Florida Boat Show in Ft. Lauderdale. There were 200 pair of Crocs at that show, and every pair sold out. It was the beginning of the end of stylish footwear. From that point on, Crocs went crazy.
They’re On the Worst List – Officially
Each year, Maxim comes out with a list of the 10 best and worst things to happen to men. In 2007, Crocs made the list as the number 6 worst thing to happen to men that year. It seems men did not get the memo, however, as the company is still selling billions of dollars worth of shoes each year.
Even Time Has An Opinion
Time Magazine occasionally comes out with lists. One such list was published in 2010. This particular list lists the 50 worst things ever invented. On that list is Crocs. They’re listed as some of the worst inventions ever to go public.
Crocs Made Up Stories
For years, the company marketed their plastic shoes as being made of antimicrobial materials. In 2011, it was proven that they were not, in fact, made by any such material. The company was forced to pay a $230,000 fine by the Environmental Protection Agency.
(Photo by Cate Gillon/Getty Images)
