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Adidas, Nike, Puma and Co.- How Corona slow down the production of sneakers

Adidas, Nike, Puma and Co.- How Corona slow down the production of sneakers

Adidas, Nike, Puma and Co.- How Corona slow down the production of sneakers

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Frankfurt.Fans trendy sneakers have to prepare for hard times.Many desired sneakers will be missing under the Christmas tree.The reason for this can be found in Vietnam.Corona brakes the production there.This also applies to sporting clothing.Experts expect the bottlenecks to be resolved in the spring of next year at the earliest.

It hits almost all common sports and lifestyle brands, from Adidas to Nike and Puma to Under Armor or the Yoga experts from Lululemon.Welt market leader Nike has been the first to get out.The company has just corrected its sales forecast for the entire year.

This has not only pressed the share of the world's largest sporting goods group, but also the papers of the rivals into the basement.Adidas shares are currently worth 11 percent less than a month ago.Puma's share certificates - just rose in the extended German stock index - have lost 9 percent in the same period.

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However, they also come from a high level: in August the values were still noted at record height.At that time, this was a narrative that with the degraded Corona pandemic in Europe and North America, the demand for sporting goods that are also worn in everyday life would be attracted again.Because more is trained again and, above all, because the younger people are traveling again in clubs and elsewhere - for this it naturally needs chic sneakers.

Adidas, Nike, Puma und co. - Wie Corona die Fertigung von Sneakern ausbremst

However, a violent Corona outbreak with the Delta variant in Vietnam puts a strain on the business of the corporations.The plague is particularly rampant in the region around Ho Chi Minh City (formerly Saigon) in the south of the country.Exactly where many shoe factories are located.The government has imposed strict Lockdowns.Many works have been closed, in other production facilities the number of workers is greatly reduced.

There is a simple reason for almost all companies in the industry at the same time: In the Vietnamese factories, the products are also produced for several global brands.In Ho-Chi-Minh-Stadt, for example, a manufacturer of the PoU Chen contract was temporarily closed with 56,000 employees because Covid had broken out there.

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  • Adidas has about every fourth of the treads with the three stripes in Vietnam.At Nike it is a good half, and around 80 percent of these capacities are currently paralyzed.Nike managers admit that they were surprised by the wave of infection in the Asian country.In the meantime, a mathematical production failure of ten weeks has ran.Sewing sporty nike clothing is currently running halfway.

    But that's not all: the logistics are also difficult for the sports articans.Ports are overloaded, containers are missing.For transport from the factory to the store, which usually takes 40 days, 80 days must be calculated.Furthermore, the freight costs have increased massively due to the increased demand - the economy has attracted the economy in many countries after the end of the lockdowns at the same time.

    And according to industry experts, it will come even worse in the next few weeks.Because in the Christmas business, which begins in November, the entire range of consumer goods of all kinds is to be raised, which further increases the demand for transport capacities.

    Video „Unanständig, unverantwortlich und unsolidarisch“: Adidas steht in der Kritik1:30 min Die Ankündigung von Adidas, H&M, Deichmann und anderen, wegen der Corona-Krise keine Miete mehr zahlen zu wollen, stößt auf heftige Kritik.© Reuters

    The analysts from the New York investment house BIG emphasize that the problems are so big that even world market leader Nike can no longer control them.Many other providers have already significantly reduced their orders.In any case, it takes five to six months for the situation to normalize again.

    Manufacturer is pulling back to China

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    At the same time, efforts would be made to move production to other countries.The preferred goal is China of all things - also because restrictions by Corona are considered unlikely there.

    The punch lines in particular: At the time of President Donald Trump, US companies had shifted their commodity production from the Middle Kingdom to Vietnam to avoid punitive tariffs by the US government.To what extent Adidas and Puma now have to revise their forecasts is still unclear.

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