Crocs adds former Rent the Runway exec to board
California-based footwear company Crocs, Inc. has appointed Beth J. Kaplan to its board of directors, effective January 1, 2020.
Kaplan brings over three decades of merchandising, e-commerce, retail and consumer marketing experience to the company board. Currently, she serves as a managing member of Axcel Partners, LLC, investing in consumer-facing early stage and growth companies, and is also currently a director of the Meredith Corporation and the Howard Hughes Corporation. In addition, she is a director and advisor at Rent The Runway, Framebridge, Care/of, and Leesa Sleep.
Previously, Kaplan served as the president and chief operating officer of Rent the Runway. In the role, she worked closely with the company’s co-founders and oversaw finance, operations, merchandising, customer insights, business development and retail.
Beyonf Rent the Runway, Kaplan has served as president and chief merchandising and marketing officer at General Nutrition Centers Inc., executive vice president and general manager of Bath & Body Works, senior executive vice president of Rite Aid and president of U.S. cosmetics and fragrances for Procter & Gamble, among other roles.
“We are pleased to welcome [Kaplan] to Crocs’ board of directors,” said Thomas J. Smach, chairman of the board.
“She has a record of positively impacting mainstream consumer brands, as well as infusing new thinking into product development, retail, e-commerce strategy and marketing. Her experience and leadership will be invaluable as we continue to see rapid growth that drives shareholder value.
“Crocs is an iconic brand and its recent resurgence is nothing short of historic,” added Kaplan. “I look forward to helping the brand continue its incredible journey and advancing its goal of ensuring everyone is comfortable in their own shoes.”
In October, the casual footwear company announced a 19.8% increase in revenue in the third quarter (21.0% in constant currencies), progress which drove expectation-beating earnings and led the company to raise its full-year guidance to record levels.
Crocs' net revenues for the third quarter ended September 30, 2019, totaled a record $312.8 million, up from the $261.1 million reported by the company in Q3 2018. The company’s quarterly net income totaled at $35.7 million, up from $6.5 million in the same period year-prior.
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