Crocs To Close Its Manufacturing Facilities
Crocs will be closing all of its manufacturing facilities, followed by CFO resignation
This summer seems to be a hard time for businesses. First Brookstone closes all of its mall locations, then Facebook loses $119 billion in a single day, and now it’s been reported that the shoe company Crocs is closing down its manufacturing facilities and will also be losing its CFO and executive vice president, Carrie Teffner. Teffner is set to leave the company April 1, 2019, and her successor will be Anne Mehlman, who comes from Amazon-owned online shoe retailer Zappos.
Noted in a press release from last Tuesday, the Niwot, Colorado-based Crocs is closing down one of its facilities in Mexico, with plans to close down one in Italy soon after. The company has not yet announced where or if the rubbery shoes will continue to be produced.
While crocs may be one of the ugliest shoes ever to be made, they have become a worldwide phenomenon since their release back in 2002. On its website, the shoe manufacturer even boasts that it has sold more than 300 million pairs of shoes in over 90 countries throughout the world. While its stock has also more than doubled in the past twelve months, the company has also closed 28 retail sales locations, leaving it with less than 400 locations globally.
Being as popular of a pair of shoes as they are, the news of Crocs shutting down manufacturing has already sparked a lot of mixed emotions of sadness and rage on Twitter.
crocs is closing all their stores and i couldn’t be more upset— shauna roberts (@shaunabrookee) August 9, 2018
what the FUCK— cameron (@campoole8) August 9, 2018
Having never owned a pair or ever wanting to own a pair, we at The Sitch are OK with the news. Let us know what you think about Crocs in the comments section below and be sure to subscribe for more shoe news and other entertaining reads.