Artuji

Do you have a pair of Crocs? Well, you better hold on to them as they might be going bankrupt soon.

The Crocs company lost $185.1 million last year and is now deep in debt. And they are trying hard not to close down as they begin to downsize and find new markets for their flip flops.

You may now be asking. How can Crocs close down? Aren’t they the biggest selling flip flops in recent history?

If you own a pair of Crocs, then you should know that one of the best things about them is their durability. And that strength is now turning out to also be their biggest weakness.

Sales of Crocs footwear is now hitting a saturation point. And since it is nearly indestructible, consumers are finding no reason to buy new ones.

The style is novel. One need not invest in many pairs. And that’s why sales are constantly going down. Plus, imitations are eating a huge bulk of their potential income.

So what happens now? Only time will tell. In the meantime, the same sentiment about Crocs is still around – either you love them or you hate them. Which one are you?

Image Credit: Crocs Sale