Steve Madden Plans Major Reduction in China Sourcing Amid Tariff Concerns
TL;DR Summary
Steve Madden plans to reduce its reliance on Chinese imports by 40-45% over the next year in anticipation of potential tariffs under President-elect Donald Trump's trade policies. The company is shifting its sourcing to countries like Cambodia, Vietnam, Mexico, and Brazil to mitigate risks associated with tariffs on Chinese goods, which currently account for over 70% of its imports. This move is part of a broader trend among retailers to diversify supply chains due to geopolitical and economic pressures.
- Steve Madden to slash China sourcing by as much as 45% as Trump's tariff plan looms CNBC
- Steven Madden Targets 40% Cut to China Imports to Avoid Tariffs Bloomberg
- After Trump’s Victory, One Company Prepares to Shift Production From China The Wall Street Journal
- Tariffs hikes could be coming. Stanley Black & Decker says it’s ready. Supply Chain Dive
- Steven Madden to cut sourcing from China on tariff worries under Trump Reuters.com
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