The May issue of Inc magazine talks to CEO Ron Snyder of Crocs, Niwot Colorado, about how they made their first $1 million in sales.
With only one factory, in Canada, Crocs lacked the capacity to ramp up its production from 30,000 to 300,000 pairs of shoes a month. "There was no chance we could fulfill the order," Snyder says. Fortunately, he had a few contacts in Asia and was able to find a contractor in about a month. Soon, Crocs was shipping thousands of pairs of shoes. "Saying no never occurred to us,"Since this first million they have come a long way and their stocks was hovering around $75 before falling to $10-$12. Crocs made revenues of $194 million just in the first quarter of 2008. Interestingly, the very first factory in Canada they had used to supply their sales is what they are shutting down now. Is there more room for Crocs' earning growth?