Steve Madden is planning to reduce its dependence on China for sourcing materials, aiming to cut imports from the country by 40%-45% within a year due to potential tariff increases under the new presidential administration. Currently, imports from China make up about 70% of the company’s U.S. business. CEO Edward Rosenfeld noted that the company has been preparing for this shift by developing sourcing capabilities in countries like Cambodia, Vietnam, Mexico, and Brazil, anticipating significant implications for its supply chain amid evolving trade policies.

Source: https://www.supplychaindive.com/news/steve-madden-slashes-china-sourcing-avoid-tariffs/732583/