Crocs to outsource all its manufacturing
13/08/2018
In a report it released disclosing its results for the second quarter of the year, during which its revenue increased 2.3% to $328 million, the company said it had already closed its facility in Mexico and was moving ahead with plans to close its last facility in Italy.
It will instead shift all production to third parties, primarily in Asia, a move the company said would allow it to increase its manufacturing capacity. This is the latest stage in its efforts to streamline its business, a process that also includes closing its less productive retail stores as their leases expire and focusing more on online sales.
Crocs also announced that its vice president Carrie Teffner will leave the company by next April. She is stepping down as the group’s chief financial officer on August 24, with Anne Mehlman, currently CFO of online footwear company Zappos, taking over.
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