DÜSSELDORF - More than seven out of 10 fashion brands and retailers say they are turning to nearshoring because of the impact on their global supply chains caused by the pandemic and shipping disruption, according to a new report.
The study, entitled 'Revamping fashion sourcing: speed and flexibility to the fore' by consultants McKinsey and Company, says that 71 per cent of fashion companies are planning to increase nearshoring by 2025.
Turkey is named as one of the top three most promising sourcing locations for the first time in the report which also says that three-quarters of companies see shipping disruptions as the greatest threat to flexibility and speed, followed by demand volatility and the pandemic.
