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Nike, Calvin Klein vendor in Sri Lanka gains from China decoupling
来源：shippingazette 编辑：编辑部 发布：2022/06/10 09:37:33
SRI LANKAN knit fabric manufacturer Teejay Lanka, suppliers of Nike, Calvin Klein and Uniqlo, is enjoying increased demand as production shifts from China, reports Bloomberg.
The company, which produces about 45 tons (1.6 million ounces) of fabric a day in Sri Lanka and an equal amount at its Visakhapatnam, India, facility, plans to scale up operations, said compant director Hasitha Premaratne.
"We are seeing strong demand until July," due to relocation of fabric manufacturing away from China, Mr Premaratne said.
But a slowdown in the US economy is expected to impact retail sales of "large apparel companies, and its effects will be seen in the global supply chain, including in Sri Lanka" later this year, Mr Premaratne said.
In Sri Lanka, suffering its worst economic crisis, inflation accelerated more than expected to a record 39.1 per cent in May amid continuing food, medicine and fuel shortages, while citizens have also had to endure daily power outages of as long as 13 hours.
The company, which produces about 45 tons (1.6 million ounces) of fabric a day in Sri Lanka and an equal amount at its Visakhapatnam, India, facility, plans to scale up operations, said compant director Hasitha Premaratne.
"We are seeing strong demand until July," due to relocation of fabric manufacturing away from China, Mr Premaratne said.
But a slowdown in the US economy is expected to impact retail sales of "large apparel companies, and its effects will be seen in the global supply chain, including in Sri Lanka" later this year, Mr Premaratne said.
In Sri Lanka, suffering its worst economic crisis, inflation accelerated more than expected to a record 39.1 per cent in May amid continuing food, medicine and fuel shortages, while citizens have also had to endure daily power outages of as long as 13 hours.