Nike Could Run Out Of Sneakers Due To COVID-19
Nike could be facing a sneaker shortage thanks to the recent COVID-19 outbreak in Vietnam that has forced its factories to close temporarily.
Three of Nike’s suppliers in Vietnam, in the factory districts Chang Shin Vietnam Co and Pou Chen Corp have been forced to cease manufacturing because of the current COVID-19 outbreak.
Nike, who is usually at the forefront of its industry recently debuted its latest ‘super shoe’ – the Nike ZoomX Dragonfly. However, this COVID-19 shutdown could curb Nikes lead.
According to YahooFinance a report by financial information and analytics company S&P Global found that Vietnam is crucial to Nike’s supply chain with 49 per cent of US seaborne Nikes being imported from Vietnam, in the second quarter of 2021.
The temporary closures could affect the sneaker giant’s supply chain, particularly to its American vendors. While the shortage of sneakers would not be instant, vendors could potentially not have access to the usual range of Nike sneakers in a few months.
A spokesperson from Nike told YahooFiance, “The health and safety of our teammates, as well as that of our suppliers, remains our top priority.
“We continue to work with our suppliers to support their efforts in response to the dynamic and unprecedented nature of COVID-19,
“As we continue to navigate these circumstances, we expect our suppliers to prioritize the health and livelihoods of their employees and continue to comply with legal requirements and the Nike Code of Conduct on the provision of wages, benefits, and severance.
We are confident in Nike’s ability to navigate these near-term dynamics, and we remain prudent in our planning,”
However, arguably supply will also hinge on how long these COVID-19 shutdowns last.
CTVNews has reported that Vietnam has recently been reporting over 2,000 COVID-19 cases a day.
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