Capital management said it had accumulated a 5% passive stake in Crocs. On July 21, 2010, Crocs Inc. announced a restructuring plan to streamline its operations and workforce by eliminating 180 jobs, close 75 to 100 stores (out of 624 worldwide) as well as scrapping underperforming product lines. Crocs has previously eliminated 183 positions, including 70 current and planned positions in its corporate headquarters in Niwot, Colorado. Crocs also announced they would open a "global commercial center" with 50 to 75 employees in Boston, Massachusetts, in 2014, for merchandising, marketing and retail functions. In August 2018, Crocs announced it was closing its last company-operated manufacturing plants in Mexico and Italy. In the years 2020 to 2022, Crocs experienced a surge in sales due to several factors. One reason for the brand's resurgence was a shift in consumer behavior during the COVID-19 pandemic, with many people looking for comfortable, practical footwear that they could wear while working from home. Additionally, Crocs benefited from successful collaborations with high-profile fashion designers and a well-executed marketing campaign that helped to revitalize the brand's image. As a result of these factors, Crocs' sales had a two-digit rise annually during this period, demonstrating the strength of the brand's comeback. Acquisitions In October 2006, Crocs Inc. purchased Jibbitz, a manufacturer of accessories that snap into the holes in Crocs shoes, for $10 million, or $20 million if Jibbitz met earnings goals. In January 2007, Crocs acquired assets of Ocean Minded for $1.75 million in cash, plus potentially $3.75 million based on performance. Ocean Minded makes leather and ethylene-vinyl acetate-based footwear. In July 2007 Crocs agreed to buy shoe- and sandal-maker Bite Footwear, based in Redmond, Washington, for $1.75 million, or up to double that based on earnings results. In April 2008, Crocs acquired Tidal Trade, Inc. ("Tidal Trade"), the company's third party distributor in South Africa, for $4.6 million. The company recorded $1.4 million in customer relationships on the date of acquisition. Crocs repurchased inventory previously sold to Tidal Trade and accordingly recognized a reduction of revenue of approximately $2.1 million. Also in April the company acquired Tagger International B.V. ("Tagger"), a private limited liability company incorporated under Dutch law that manufactures messenger bags. Tagger was partially owned by the Managing Director of Crocs Europe B.V. The company acquired all Tagger assets for $2 million – $90,000 for inventory and $1.9 million for the Tagger trademark. Later