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Crocs Inc., deals with designing, developing and manufacturing of casual lifestyle footwear and accessories for men, women and children across the world. It has segments in the Americas, Europe, Asia-Pacific and Europe. Crocs was founded in 2002.
The company’s products are made using closed-cell resin known as Croslite. Crocs sells its products in over 60 countries through authorized distributors and international retailers as well as directly to customers through its company-operated retail stores, Webstores, kiosks, and outlets. Crocs operates more than 270 global retail stores and 100 global kiosks.
In 2007, the company registered the “Crocs” and the Crocs logo as trademarks in over 40 jurisdictions across the world including the United States.
Crocs Acquisitions and Company Portfolio
Since its formation, Crocs has acquired a number of businesses to increase it portfolio and financial base. Most of Crocs acquisitions are meant to help the company achieve its manufacturing goals. The most notable acquisitions made by Crocs include:
- Jibbitz, to manufacture accessories that snap into the holes of Crocs shoes in a deal worth $10 million or $20 if the purchase met its earning target
- Ocean Minded, a company that makes leather and ethylene-vinyl acetate based footwear. The acquisition cost Crocs $3.75 million
- Bite Footwear, a shoe, and sandal maker headquartered in Redmond, Washington in a $1.75 million deal
- Tidal Trade Inc, Crocs third party distributor for $4.6 million
From 2006, Crocs sales increased dramatically with the figures tripling in 2007. In June 2004, a 23-month-old Prince George, the son Prince William and Kate Middleton, was photographed wearing navy blue Crocs at a charity event. This further cemented Crocs position as a company to reckon in the footwear industry and even recorded a 1,500% increase in sales according to Amazon.co.uk.
Crocs Price Adjustment Policy
Crocs has a price adjustment policy that is regulated by the following terms and conditions:
- Prices are only guaranteed for 14 days
- If you purchase an item that goes on sale with 14 days of purchase, the company will honor the new price as per your request in the form of a Crocs gift card as long as you have a valid proof of purchase.
- The price adjustments policy is subject to price changes that occur within a 14 day period after your purchase only
- If you buy items on crocs.com via PayPal, price adjustments will be made in the form of crocs gift card of the price difference
Crocs also has a returns policy with the following terms and conditions
- You can return any merchandise bought within 45 days of purchase if you’re not satisfied with your purchase
- In case you don’t have proof of purchase, the company will either make and exchange or offer you store credit based on the current retail price.
- If for some reason you feel that the quality is not up to par, you have up to 90 days to proof purchase
The return policy does not cover shipping and handling costs.