Crocs exec says speed key to tackling counterfeits

Footwear company Crocs Inc has said the key to protecting its brand from counterfeiters is simply to be quicker at bringing new product lines to market.

The company's chief financial officer Jeffrey Lasher said during the firm's second-quarter results call he company is being challenged by illegitimate copies of its products around the world, particularly in countries where intellectual property (IP) laws and enforcement are not as strong as established markets such as the US or Japan.

The Asia-Pacific region is an increasing important market for the sandal and clog maker as its core markets in the US, Europe and Japan start to slow down.

The company already makes 66 per cent of its revenues outside its home US market, and Asia (excluding Japan) has been the start performer - growing at around 20 per cent to reach $202m in the first half of this year, or around 30 per cent of the total turnover of $675m.

"Our strategy is to just outpace the counterfeiters," Lasher told investors earlier this month. The company needs to keep updating its range with production and engineering requirements that set a high design hurdle for counterfeiters to overcome.

"We have is to continue design and innovate to make fun and colourful products," he said.

Best known for its clog-style sandals (pictured), Crocs has latterly differentiated its product line into other areas including flats, wedges and boots.