Chinese People Like To Wear Slippers, But Cave Shoes May Be An Exception.

Crocs 2018 is recovering from the start of the year, but the prospects for the Asia Pacific market are slim.

Recently, Crocs, the originator of American cave shoes, released its first quarter results in 2018.

Data show that Crocs sales increased by 5.7% to US $283 million 100 thousand in the first quarter, of which the electricity supplier channel grew by 24.1%.

Although the number of shops has been reduced and business adjustment has lost 12 million US dollars, the overall performance is still on the rebound.

Crocs chief executive Andrew Rees said in a notice: "this year has made a strong start, and 2018 spring and summer products have been selling well.

We expect that the overall profit in 2018 will be increased by a single digit. The electricity supplier will gain double-digit growth and the wholesale channel will grow moderately.

These profits are enough to offset the losses caused by closing stores. "

According to Crocs, profit is expected to reach $3.15 to $325 million in the next quarter, and net interest rates may be higher than 54.2% in the same period last year.

In addition to closing stores, Crocs will further streamline its related departments and plan to close factories and distribution departments in Mexico.

At present, the factory has been closed, and the distribution center will also be evacuated in the third quarter.

The sales of the hole shoes have gone up, probably because the summer is coming, and the king who belongs to this season - the slippers will also appear in the streets and alleys.

In fact, slippers have always been in short supply in China. Let's see that brands have been introducing new models of slippers.

The Converse Japan, the main canvas shoe, introduced a cool tug in March this year. It looks familiar because its predecessor was the One Star Star Series in 90s.

Without the shoelaces and signs of the star pattern, only the classic canvas material was retained.

CONVERSE slippers

Singer Rihanna's silk bow tie slippers designed for Puma last year has been on fire.

And this summer, Puma and British designer brand Sophia Webster Webster Leadcat Candy Princess slippers will be on sale.

Even the snow boots brand UGG wants to try out the market of slippers and sell the hairless sandals that look "not very UGG like".

Puma new cool towing

UGG cold towing

Apart from going out to travel, Chinese people love the slippers even when they travel.

In the investigation of InterContinental Hotel group, it is found that for Chinese tourists, disposable slippers are also necessary except Chinese TV channels, bottled water and electric kettle.

It is clear that people are thinking about how to liberate their feet, but they are becoming less and less thankless in China. This trend has been revealed since 2015.

In the third quarter of 2015, Crocs revenue was $274 million 80 thousand, down 9% from 302 million 400 thousand US dollars in the same period last year.

Ribatt attributed the decline to China's macroeconomic downturn.

In 2016, Crocs, which fell for fourth consecutive years, no longer allowed the economy to go back to business.

In fiscal year 2016, sales fell 4.95% to 1 billion 36 million US dollars compared with the same period last year, and net profit for the whole year was 31 million 738 thousand US dollars, which is a net profit loss for Crocs for four consecutive years.

In the main market, US growth stagnation, sales of Asia Pacific markets including China, Japan and South Korea fell 6.9% to 3.95 billion, and the European region fell more severely, down 8.1% to 173 million US dollars.

Analysts pointed out that the cave shoes made the same mistake as UGG, whose functionality and appearance were too single to maintain stable performance.

This is why UGG is eager to pform in the past two years. In the past April, a new spring and summer new product named "Hurley HOLLY" was released in Shanghai.

Although it was a cold drag, it still failed to get rid of the image of Mao's products.

UGG slippers

And the two pformation of Crocs is not complete. For the first time, it is through the acquisition of Jibbitz and SamanthaBryan design companies specializing in decorations for holes in shoes.

The second time simply put the hole shoe "Snow" and develop canvas shoes, high-heeled shoes and other products.

It was not until Ribatt took office that the shoelace was returned to the market.

Later, Crocs tried to change the classics with changeable colors, but with little effect.

To add insult to injury, at the 315 party this year, the style of the cave shoes was named "threat to children's safety".

The reason why the hole shoe is pulled into the warning list is that the sole is too soft and easy to be clamped by the escalator, causing the child to sprain.

Because children are the main consumers of cave shoes in the Chinese market, this problem can not be ignored.

Perhaps in such a development environment, it is a difficult problem to abandon or change the tradition for Crocs, who is a shoe maker.