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Adidas to shut down China factory
By Ding Yining |
July 19, 2012, Thursday
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Online Edition
Online Edition
GERMAN Sportswear Company Adidas AG confirmed that it will shut down its only self-owned apparel factory in China among rising labor and raw material cost in the country.
The company will close the factory in Suzhou in Jiangsu Province and the move is a part of its efforts to restructure global resources and improve efficiency, China Business News reported today, quoting an email statement from the German company.
There are still more than 300 manufacturing sites from suppliers across the country. The factory is set to close in October and Adidas said it will compensate the employees at levels higher than international standards.
Market watchers pointed out that the move could help the apparel company save cost and focus on marketing in China.
There have been speculations that the factory will be located to Southeast Asia.
The company will close the factory in Suzhou in Jiangsu Province and the move is a part of its efforts to restructure global resources and improve efficiency, China Business News reported today, quoting an email statement from the German company.
There are still more than 300 manufacturing sites from suppliers across the country. The factory is set to close in October and Adidas said it will compensate the employees at levels higher than international standards.
Market watchers pointed out that the move could help the apparel company save cost and focus on marketing in China.
There have been speculations that the factory will be located to Southeast Asia.
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