Sportswear brand Puma has warned that an increase in the price of its products is inevitable should proposed tariffs on more China-made products imported into the US come into effect.
Chief executive Bjorn Gulden has said the brand is already taking action in response to the situation. This has included moving some of its production from China to other countries like Vietnam, Bangladesh and Cambodia.
Puma is far from the only sportswear brand doing so, however, so supply hubs in Asia are quickly becoming crowded. As a result, the German brand is currently carrying around 7% more inventory than it normally would, having moved to secure production capacity earlier than usual.
Mr Gulden has said US consumers are likely to see clothing prices increase due to the tariffs. “You can’t move all production out of China, and therefore there will be a price increase in the market that will be visible for the consumer,” he explained.
Courtesy: Sports Textiles
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