Crocs is closing all of its manufacturing facilities 'to improve profitability'

Crocs to close manufacturing plants in Mexico, Italy

Crocs Are Shutting Down Their Manufacturing Plants And People Are Very Worried

The shoe brand said it will be shutting down a factory in Mexico and another in Italy as it outsources production in the hunt for greater profits. "Our future remains as bright, bold and colourful as ever".

The Daily Mail reports that along with the store and plant closures, the Crocs chief financial officer Carrie Teffner will be leaving the company next March, to be replaced by Anne Mehlman of Zappos.com, an Amazon-based shoe seller.

She will be replaced by Anne Mehlman, who now works at shoe-seller Zappos.com.

Crocs recently closed 28 retail sales locations, and there are now less than 400 locations globally.

Despite the arguably unsightly design of the shoe, many have been expressing their upset over the news that the company's last factory will shortly be closing down.




And now it appears they have fallen out of favour even more in recent years, with the share price halving between 2014 and 2017.

The company announced that it is expecting a 2018 revenue of around $1.02 billion, slightly below analysts' previous expectations of $1.05 billion.

CEO and president Andrew Rees said: "Our clogs and sandals continue to perform well, and we are well positioned for the back half of the year".

The growth was achieved despite a $22 million loss due to operating fewer stores and business model changes.

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