Crocs shoe company are closing down all of their factories

Crocs is also closing less productive retail stores as leases expire and focusing more on online sales

Crocs is also closing less productive retail stores as leases expire and focusing more on online sales

After having been at the vanguard of fashion for over a decade, Crocs has announced it will close its remaining production factories in Mexico and Italy.

Crocs Inc. announced that it's closing all of its manufacturing facilities and said that its chief financial officer will resign.

In an August 8 investors presentation, the Niwot, Colo. -based company said it would outsource all production and close down 160 stores to bring the total number of outlets to 400.

Since the company's launch in 2002, Crocs have become popular among hospital and restaurant workers, along with boaters and others who are on their feet all day.

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Share prices more-than tripled between May last year and June this year, and while values have tapered off since, the company seems intent on chasing further growth.

This follows news earlier in 2018 that Crocs planned to close 160 of its 558 stores worldwide by the end of the year, with 28 already closed.

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

The brand have created a new and improved marketing strategy and a new range of high-heeled shoes after being catapulted into the spotlight again on the runway.

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