Crocs

Under Richard Sharp, Circuit City grew from a company with 50 stores and $500 million in sales to become one of the nation’s largest... electronics retailers. Sharp joined Circuit City as executive vice president in 1982. In less than two years, he was named president and became CEO in 1986. The company focused on “category killer” superstores providing shoppers with a wide selection of consumer electronics products. Circuit City’s sales now top $11 billion. In 1993, Sharp re-invented the used-car business by starting CarMax, a no-hassle chain of used-car superstores. Today, Richmond-based CarMax has grown into the country’s largest retailer for used cars, operating 67 superstores in 31 markets generating revenues of more than $6 billion. Sharp tried to revolutionize another industry in the late 1990s with the introduction of the Divx, video disk system. The product, however, failed to catch on and was dropped in 1999. He has had better luck recently with Crocs, a new footwear company that raised millions in its February initial public offering. Sharp retired as Circuit City’s CEO in 2000 and stepped down as chairman in 2002. He remains chairman of CarMax. Sharp is a member of the Greater Richmond Business Hall of Fame.
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