- China will remain the dominant supplier, though Vietnam and Asia as a whole are seen as having more growth potential.
- Companies aren’t leaving Bangladesh, and are committed to compliance.
- Companies continue to look for opportunities closer to home, including the United States, as they diversify their sourcing.
- Companies are diversifying their sourcing and expect to continue to do so. However, current FTAs and preference programs remain under-utilized or don’t represent a major component of respondents’ sourcing.
- Respondents welcome the passage or renewal of all future trade agreements that intend to remove trade barriers and facilitate international trade in the industry.
About the Benchmarking Study
The 2014 USFIA benchmarking study is conducted based on a survey of 29 executives at 29 leading U.S. fashion companies from March to April 2014. The study incorporates a balanced mix of respondents representing various business types in the U.S. fashion industry, including retailers, importers, wholesalers, and manufacturers. The survey asked respondents about the business outlook, sourcing practices, utilization of Free Trade Agreements and preference programs, and views on trade policy.
The full study can be downloaded from HERE.