Crocs Inc. and the NBA Deal

An announcement from Crocs Inc. (NASDAQ:CROX) about a deal with the NBA (after their stock has dropped 22% in the last two days) is almost comical at this point. 

Imagine driving to the hoop wearing your Seattle Sonics Croc gear when you realize the damn endorsed sandals don't have any ankle support -- crack!!  Croc investors, imagine all the money the NBA is going to bring them?  Wow.  I hope they get NASCAR next, that would be a great fit.

Here's the press release off their website - click here.

CROCS, INC. EXTENDS LICENSING BUSINESS WITH ADDITION OF NBA BRANDED FOOTWEAR AND ACCESSORIES

NBA partnership complements deals with MLB, NFL, NHL, PGA Tour, NCAA, and NASCAR to put Crocs™ shoes on the feet of every major sports fan

NIWOT, COLO. – Feb. 21, 2008 –Crocs, Inc. (NASDAQ: CROX) today announced that it has expanded its licensing business with an agreement covering the National Basketball Association. The agreement, which covers both Crocs™ footwear and Jibbitz™ charms, allows Crocs to license agreed logos for all 30 NBA teams and related NBA properties.

“Basketball fans are some of the most dedicated in all of professional sports and we’re thrilled to provide NBA fans with a new way to support their favorite teams and show their spirit from head to toe,” said Ron Snyder, CEO of Crocs. “Many Crocs customers are actively involved in sports and outdoor activities, which will make these new products a hit for athletes and fans alike."

“Partnering with Crocs provides an opportunity to extend a fun and unique line of footwear to NBA fans,” said Sal LaRocca, Executive Vice President, NBA Global Merchandising Group.

NBA branded Crocs™ shoes – including the Mammoth model, created for cold weather wear will be available prior to the start of the 2008-2009 season at / and select retail outlets.

The agreement adds to Crocs' library of license agreements, which also includes rights to all NHL, NFL and MLB teams and over 75 major colleges and universities. Similar to the company's Collegiate Licensing program, the products include a primary team color for the shoe and an alternate team color for the heel strap with the team name and/or logo placed on the heel strap and on the side of the shoe.

About Crocs, Inc:
Crocs, Inc. is a rapidly growing designer, manufacturer and retailer of footwear for men, women and children under the Crocs™ brand.

All Crocs™ brand shoes feature Crocs’ proprietary closed-cell resin, Croslite™, which represents a substantial innovation in footwear. The Croslite™ material enables Crocs to produce soft, comfortable, lightweight, superior-gripping, non-marking and odor-resistant shoes. These unique elements make Crocs™ footwear ideal for casual wear, as well as for professional and recreational uses such as boating, hiking, hospitality and gardening. The versatile use of the material has enabled Crocs to successfully market its products to a broad range of consumers.

I n 2006, the company acquired Jibbitz, LLC, a unique accessory brand with colorful snap-on products specifically suited for Crocs™ shoes. Today, more than 1,600 Jibbitz™ charms and designs are available to consumers for personalizing and customizing their Crocs™ footwear.

Crocs™ shoes are sold in more than 90 countries and come in a wide array of colors and styles. Please visit www.crocs.com for additional information.

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