Crocs Inc was organized in 1999 and was converted to a Colorado corporation and reincorporated in Delaware in June 2005. The Company is a designer, manufacturer, distributor, marketer and brand manager of footwear for men, women, and children. It aspires to bring comfort, fun and innovation to the world's feet. It manufactures a product offering that provides new and exciting molded footwear products that feature fun, comfort and functionality. It also designs and sells a broad offering of footwear and accessories that utilize its proprietary closed cell-resin, called Croslite. Its Croslite material enables them to produce a lightweight, non-marking, and odor-resistant shoe. The Company has three reportable operating segments: Americas, Europe, Japan and Asia. Revenues of each of its reportable operating segments represent sales to external customers. The Americas segment consists of revenues and expenses related to product sales in the North and South America geographic regions. Regional wholesale channel customers consist of a sporting goods and department stores as well as specialty retailers. The regional retail channel sells directly to the consumer through 216 company-operated store locations as well as through webstores. During the years ended December 31, 2013, 2012 and 2011 revenues from the Americas segment constituted approximately 41.9%, 44.1% and 44.7% of its consolidated revenues, respectively. The Asia segment consists of revenues and expenses related to product sales throughout Asia, Australia, New Zealand, the Middle East and South Africa. The Asia wholesale channel consists of sales to the retailers, similar to the wholesale channel it has established in the Americas. It also sells products directly to the consumer through 236 company-operated stores as well as through its webstores. The Japan segment consists of revenues and expenses related to product sales in Japan. The Japan wholesale channel consists of sales to the retailers similar to the wholesale channel have established in the Americas segment. The Europe segment consists of revenues and expenses related to product sales throughout Europe and Russia. Europe segment wholesale channel customers consist of retailers, similar to the wholesale channel it has established in the Americas. It also sells its products directly to the consumer through 118 company-operated stores including kiosks and retail stores. During the years ended December 31, 2013 2012 and 2011 revenues from the Europe segment constituted 18.1%, 15.1% and 17.1% of its consolidated revenues, respectively. The Crocs footwear products are divided into four categories: Core, Active, Casual and Style. Its Core product range is composed of molded products that are derivatives of the original Beach and Cayman (soon to be renamed Crocs Classic) designs. The Core product range is targeted toward a wide range of distribution channels and consumers. Its Active product range is composed of footwear intended for healthy living. It includes sport-inspired products that offer active end uses like boating, walking, and hiking as well as for recovery after workouts. The Casual product range offers sporty and relaxed design inspirations. Casual products are targeted towards a broad range of customers. These designs are targeted towards department stores and fashion and specialty retail accounts. It relies on a combination of trademark, copyright, trade secret, trade dress, and patent protection to establish, protect, and enforce its intellectual property rights in its product designs, brand, materials, and research and development efforts.
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