By Kristen Altus | Fox Business
Steve Madden’s CEO announced on a post-earnings call Thursday — less than 48 hours after Trump’s victory — that the retailer has put a “plan into motion” that cuts Chinese sourcing up to 45%.
“You should expect to see the percentage of goods that we source from China to begin to come down more rapidly going forward,” CEO Edward Rosenfeld said.
The trendy shoe retailer also noted it would focus more of its operations at factory bases in Brazil, Mexico, Vietnam and Cambodia.