US: Segmentation is Crocs’ new retail strategy
Beleaguered plastic clog maker Crocs Inc is to segment its footwear into Everyday, Sport and Style collections as it tries to drum up new retail interest in its shoes.
The announcement from the Nasdaq-listed company comes just days after its shares almost halved on a forecast of slumping sales.
The Colorado-based company late Thursday (24 July) admitted it is poised to suffer its first year of falling sales since going public, as US retailers started cutting back orders and growth in international markets fell below expectations.
However, speaking at the World Shoe Association (WSA) trade show in Las Vegas today (28 July), Adam Baker, vice president of merchandising, said the new product segmentation strategy "provides a competitive edge as Crocs builds for the future."
He added: "This strategy allows us to tailor our product lines to better meet the needs of our retail partners as we continue to take the lead in the molded footwear category.
"Additionally, our technical design advantage allows us to outfit Crocs footwear enthusiasts with products geared directly to their interests, be it fishing pros, fashionistas or soccer moms."
The three distinct collections will be rolled out for spring/summer 2009 and include a leather slip-on, a performance boating shoe, and a lightweight canvas wedge.
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