Crocs: How To Make BILLIONS From Ugly Shoes 🤮💸

The INSANE Story of Crocs by MagnatesMedia: When the Crocs co-founder first saw a prototype of the shoes back in 2002, the only words out of his mouth were, “Those are ugly.” Somehow, though, those ugly shoes created a multi-billion-dollar publicly traded company and have been worn by celebrities and even on the runways of Paris Fashion Week. So, how were three founders with zero experience in footwear able to build such a wildly successful shoe company? This is the surprising, untold truth of Crocs. In 2002. Lyndon Hanson had hit a low point: he was sleeping on a friend’s couch after separating from his wife. Around that same time, he also lost his job in computer hardware marketing, and his mother passed away from cancer. His troubles seemed endless. George Boedecker and Scott Seamans were long-time friends of Lyndon and could see he desperately needed some cheering up, so they set up a sailing trip together around the Caribbean to try and clear Lyndon’s head. Now, Scott was a quietly successful inventor and had made a good living developing and patenting products, and at the time of this trip, he was already semi-retired at forty-eight. However, while they were on this sailing trip together, Scott asked Lyndon and George to try on a pair of rubber-like clogs he’d been developing after discovering something similar on a business trip to Canada. Who could have guessed at that moment that Crocs would become a billion-dollar business empire? In 2006, Crocs had its IPO, and they raised $239 million, which placed it as the highest initial public offering for footwear ever. This puts its market value at a little over a billion dollars. Crocs did face a slump in the stock market for a while, but has now bounced back and had their highest revenue year ever, so let's look at the business success of Crocs, how they make so much money, why Crocs do such weird collaborations, and lots more in this history of Crocs!