Crocs Closing All Manufacturing Facilities
It looks like it might be time to stock up on those Crocs! The shoe company said it's closing a manufacturing facility in Mexico and said it also plans to close its last manufacturing facility in Italy. So what does this mean for folks like myself who wear Crocs just about everyday (don't knock 'em until you've tried 'em) ?!
According to the Denver Business Journal, Crocs closing all of its "company-owned manufacturing facilities in connection with ongoing efforts to simplify the business and improve profitability." However, it's unclear what the future of production will be. Although, I have a theory.
The company makes it sound like they still plan on selling Crocs, even though they are planning on closing about 160 of its 558 retail stores by the end of 2018. It's all kind of confusing, really. The article mentions that Crocs expects "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." One of these changes includes the company's CFO resigning, and the announcement of her replacement. I feel like if they were going out of business, they wouldn't hire a new CFO...but what do I know?!
Not once in the article - or any other article that I have read does it say that Crocs is planning on going out of business. I'm not sure if they are going to have another way of producing shoes and just selling them online or not. However, since it never officially says "we aren't going to be in business anymore. Better get the shoes while you can," it gives me hope that I will still be able to purchase my camo clogs and other Crocs shoes. If anything changes, we will keep you updated. Since I am one of those "better safe than sorry" type of guys, I think I will go ahead and buy a few pairs just for safe keeping.