53% of Crocs sandals are made in Vietnam

Vietnam remained the biggest production hub for Crocs sandals with a 53% global market share in 2022, but down from 56% in 2021 and 75% in 2020, according to the brand’s 2022 annual report.

The Covid-19 pandemic in Vietnam and China forced the American footwear firm's third-party factories there to close or reduce capacity for several weeks, impacting the its performance. The pandemic also negatively affected sales at retail and wholesale channels.

Crocs noted that global supply chain disruption, particularly logistics challenges, had hurt its operations. For example, it spent $67 million in 2022 on an air freight to offset supply delays from the closures of its Vietnam factories. It expects these negative impacts to linger through 2023.

For its global operations in 2022, Crocs earned a post-tax profit of $540.16 million on a revenue of $945.16 million, down 25.57% and 73.41% year-on-year, respectively.

Vietnam is a top footwear manufacturer. In 2022, the country earned $27 billion from exporting footwear, the second-highest figure in the world, accounting for 9.9% of the total, according to Vietnam's Leather and Shoes Research Institute.