About a month ago, COVID lockdowns throughout Vietnam (a mega manufacturing hub for major US brands) posed serious issues for companies adapting to post-COVID demand. Now, theyâre getting worse.
In August, Abercrombie & Fitch CEO Scott Lipesky said âWe are working through an extended closure of factories in Southern Vietnam.â Urban Outfitters CEO Richard Hayne shared the sentiment, saying that âWe have a lot of product there, and weâre trying to get it inâ regarding huge swaths of supply stuck in Vietnam mid-lockdown.Â
As it turns out, August was an omen of bad things to come. After Trumpâs anti-China tariffs, companies sought factories in other locations. Vietnam was one of them. Some companies like Gap, Lululemon, and Nike manufacture anywhere between 31-50% of their products in Vietnam now. But with the supply chain in flux, U.S. businesses are rethinking their manufacturing presence in the country.
Nike lost out on 100 million pairs of shoes due to Delta variant-related lockdowns in Vietnam.Â
Lululemon has started shipping goods on airplanes to keep up with demand. Â
And Bed Bath and Beyondâs own pre-holiday earnings served as a warning for the rest of U.S. retail: expect supply-chain issues this holiday season.  Â
Jeez, did the Grinch steal supply?