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

Crocs to close manufacturing plants in Mexico, Italy

This news may prove to be a cause for concern for the comfortable clog shoe's many fans - although its design has also proved a source of contention, with the Independent calling it 'unquestionably one of the most hated shoes around the world'.

The shoe company is shutting down their remaining two factories in Italy and Mexico.

Its chief financial officer will also leave the company next year and 132 of its 530 stores will close as the company looks to increase its profit margin.

Anne Mehlman, a former vice president of corporate finance for Crocs and current CFO of Zappos, will take over as CFO.

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

The company told Footwearnews.com that they are simply moving their production to a third party, and will continue to sell their iconic shoes.

According to the statement in regard to the company's revenue in the second quarter of 2018, Crocs will be closing its last manufacturing facility in order to "simplify the business and improve profitability".

'We expect double digit e-commerce growth and moderate wholesale growth to more than offset lower retail revenues due to operating fewer stores and business model changes'.

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