"Nike, which makes about half of its shoes in Vietnam, said last week it had lost 10 weeks of production there due to plant closures. Those 10 weeks translate to about 100 million pairs of unmanufactured Nike shoes, according to BTIG LLC, an American brokerage firm. Nike now expects demand for its products to exceed available supply over the next eight months.
“Our experience with Covid-related plant closures suggests that reopening and returning to full scale production will take time,” Matt Friend, chief financial officer of Nike, said last week....A survey conducted at the end of August among nearly 100 representatives of companies in the manufacturing sector by the American Chamber of Commerce in Vietnam found that a fifth had already transferred part of the production to other countries.“What people realize, whether it’s China or Vietnam, or whatever, you can’t have all your eggs in one basket, you can’t be vulnerable to a country from a chain perspective. procurement, ”said Jonathan Moreno, head of the House manufacturing and supply chain task force....Andrew Rees, CEO of Crocs Inc., the shoe company, said in mid-September that it was moving some production to other parts of the world. He said the company had already planned to migrate some of its production out of Vietnam and was adding facilities in Indonesia and India. “Continuous diversification is basically the name of the game,” he said."
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