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Crocs to snap up more stores

Quirky footwear brand Crocs is understood to be planning to open more than two stores a week globally next year as the brand embarks on a major retail roll-out strategy.

The footwear brand, best known for its brightly coloured moulded clogs, is believed to be targeting key cities and will open between 150 and 200 stores over the next 12 months.

The move follows a rapid and successful roll-out of 21 retail stores over the past 12 months.

A source close to the company said: “In 2008 Crocs is targeting two new shops per week. The brand is looking at a second London location and possibly an opening in the new White City centre in west London.” The search for the second London location is thought to include sites along Carnaby Street.

The footwear brand unveiled its first UK store in London’s Covent Garden in October.

A spokeswoman said: “We are a public company so cannot comment on numbers, but we will look at the whole of Europe for expansion.!” It is unclear whether the stores will be company-owned or franchised.

Crocs’ global sales continue to rise. For the three months to September 30, sales grew 130% to US$256.3 million (£129.1m) against US$111.3m (£56m) for the period the previous year. Gross profits also increased, hitting US$155.4m (£78.3m) against US$64.8m (£32.6m) the year before. The UK accounts for 21% of Crocs’ sales in Europe.

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