Crocs Inc cuts sourcing from China

Footwear maker Crocs Inc to cut sourcing sourcing U.S. products from China to 10% in 2020, down from 30%.

In a significant development, footwear maker Crocs Inc stated, it aims to cut the amount of U.S. products that it sources from China by two thirds, as it tries to mitigate the impact of import tarrifs.

Assuming a 25% tariff takes effect on August 1, 2019, Crocs estimates the 2019 impact at about $5 million.

It went on to add, it currently imports nearly 30% from China and expects this amount to fall below 10% in 2020.

Advertisements


Categories: Creativity, Economy & Finance, Entrepreneurship, HR & Organization, Regulations & Legal, Strategy

Tags: , , , , , , , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: