According to StyleCaster, Crocs will be closing “between 75 to 100 stores and plans to lay off about 180 of its 5,000 employees, including the elimination of about 70 jobs at its Colorado headquarters. Crocs will also trim down the amount of styles it sells by 30% to 40%, and plans to axe certain categories, including its higher-end Elite line.”
But the 12-year-old company is not going away just yet. The restructuring is expected to save the brand $4 million in 2014 and $10 million in 2015, even while the retail closings will reduce revenue by $35 million to $50 million.
The plastic fantastic shoe has drawn the ire of fashion’s guardians including Creative Director of Marie Claire Magazine and Project Runway Judge, Nina Garcia, who once said, “I happen to think no one over the age of 10 should buy Crocs, unless you are Mario Batali.”
Looks like few will shed tears for the demise of Crocs, except for Crocs staff, middle-aged men who care more for comfort than style, surgeons, and of course, Mario Batali.