Crocs to close remaining manufacturing facilities, executive to resign

Source CBS News

"There have been multiple media reports that Crocs is winding down production in our owned manufacturing facilities", a Crocs spokesperson told FootwearNews.

Crocs, Inc. has announced plans to close the last of its manufacturing facilities and replace its CFO.

There is no word on future production plans.

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The Colorado-based shoe manufacturer said it already closed its Mexico facility and will close its last facility in Italy. In a statement later provided to Mashable, a representative for Crocs said the company is "simply shifting production to third parties to increase our manufacturing capacity".

Additionally, CFO Carrie Teffner announced her intention to resign effective April 1, 2019. Mehlman will begin on August 24.

Crocs became popular among hospital, restaurant workers, boating fans and others on their feet all day after its 2002 launch.

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In July, the company debuted a high-heel version of its rubberized footwear at $50 a pair.

Croc Inc. now operates 400 stores globally, according to the Denver Business Journal, but closed 23 retail locations in the last quarter.

"About 60 percent of Crocs' products are produced by two factories in China and Vietnam [that it does not own]", explained Susquehanna Financial LLLP analyst Sam Poser, who cited a U.S. Securities & Exchange Commission filing.

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