Nike has dropped a bombshell by revealing that it plans to exit from three footwear manufacturing units in China and one in Vietnam, due to the slowdown in its international sales and apparently to bring its operations in shape with current realities.
The company may also trim its apparel manufacturing contract facilities at the same time, in various units across the globe. This was conveyed to AFP, via e-mail and which it terms as part of a global consolidation initiated in mid 2007.
Nike has confessed that it is not immune to the current economic climate prevailing in the world and that was the reason for accelerating the process. It has also given these companies 6-9 months to look for other customers to run their production lines smoothly.
Fibre2fashion News Desk - India
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