How Crocs turned a widely mocked clog into a billion-dollar brand
People who love to hate Crocs had cause to celebrate in 2008, when investors were writing the company off as a passing fad. Crocs lost over $185 million that year. The stock plunged to just over $1 a share. But over the next decade, Crocs sold 700 million pairs of shoes. The clogs have have been strutting down runways at fashion shows. Limited edition Crocs are selling for $1,000 on the resale market. Here's how Crocs came back from the dead and turned a widely-mocked shoe into a cultural icon.