India is fastest growing market for Crocs: CFO

New Delhi: Colorado-based footwear company Crocs Inc said it counts India among its top six markets globally and is very “optimistic about the growth prospects” here, said a top company official.
It is a high priority region for the company because of its huge growth potentials, said Crocs global CFO & EVP Carrie Teffner. “India is among our top ten markets globally and its our fastest growing markets,” Teffner told PTI.
“It has certainly become our global key focus market, given the growth trajectory that we have been seeing,” she added.
Presently, India ranks six in Crocs’ overall global markets following the US, China, Japan, South Korea and Germany. Crocs, which had entered in India in 2007 has presence in 150 cities here with around 1,500 point of distribution. It has 90 Crocs branded stores.
At present, the company gets around one fourth of its total sales from online platforms. “We have witnessed a very strong topline and profitable growth,” she said, adding that the company is working with partners for Crocs branded stores and multibrand stores. “We think about brick & mortar stores, specially Crocs branded stores, in terms of expanding those into … cities, state capital and multi branded stores, taking them to tier II & III cities and really we want to reach more and more consumers for the brand,” she added.
As part of its strategy, Crocs is focusing on young millenial generation with newness in terms of colours and graphics and additional comfort technology. “We are focusing on the consumers, which are more millenial and is 20 and above, who really want to try something new and different,” she added.
However, on being asked about prospects of manufacturing here, she said that scale of the business here does not allows it to do so. “We had looked at it couple of years ago and had evaluated for us but could not do it for the price point and economics,” Teffner said. (PTI)