27 Jul FDRA on Why China & Vietnam Will Remain Central to Footwear Sourcing
While much has been said about the erosion of China’s status as the global leader in footwear manufacturing, a new report by the FDRA says that the East Asian powerhouse will remain central to footwear sourcing for the foreseeable future, even as Vietnam takes away market share.
Speaking at the trade organization’s Footwear Sourcing Intelligence Summit in New York, coinciding with the release of the group’s 2016 global footwear sourcing assessment, FDRA President Matt Priest outlined China’s continued dominance.
“[China’s] dominant position persisted in 2015 as the value of footwear shipped to U.S. shores rose 1.2%, higher for the seventeenth time in the last nineteen years, surpassing an unprecedented $17.2 billion,” he cited in the group’s report. “The volume of footwear destined for U.S. shoppers also expanded in 2015, rebounding 2.8% to a four-year high of 1.9 billion pairs.”