Nike, Uniqlo Vendor in Sri Lanka Gaining From China Slowdown
PVH, parent of Tommy Hilfiger, is Teejay Lanka’s top customer Company benefits as production shifts from China due to Covid Bloomberg – Knit fabric manufacturer Teejay Lanka Plc, whose customers include Nike and Uniqlo, is seeing demand pick up as production shifts from China because of Covid lock downs in that country. The company, which produces about 45 tonnes (1.6 million ounces) of fabric a day in Sri Lanka and an equal amount at its Visakhapatnam, India, facility, plans to scale up operations in the neighboring country by next month, Director Hasitha Premaratne said in a phone interview. “We are seeing strong demand until July,” due to relocation of fabric manufacturing away from China, Premaratne said. Sri Lanka-based Teejay counts PVH Corp. — the parent company of fashion brands Tommy Hilfiger and Calvin Klein — as its top customer, according to its annual report. Still, Teejay faces challenges in a key market and in its home country. A slowdown in the US economy is expected to impact retail sales of “large apparel companies, and its effects will be seen in the global supply chain, including in Sri Lanka,” later this year, Premaratne said.
Nike, Uniqlo Vendor in Sri Lanka Gaining From China Slowdown
PVH, parent of Tommy Hilfiger, is Teejay Lanka’s top customer Company benefits as production shifts from China due to Covid Bloomberg – Knit fabric manufacturer Teejay Lanka Plc, whose customers include Nike and Uniqlo, is seeing demand pick up as production shifts from China because of Covid lock downs in that country. The company, which produces about 45 tonnes (1.6 million ounces) of fabric a day in Sri Lanka and an equal amount at its Visakhapatnam, India, facility, plans to scale up operations in the neighboring country by next month, Director Hasitha Premaratne said in a phone interview. “We are seeing strong demand until July,” due to relocation of fabric manufacturing away from China, Premaratne said. Sri Lanka-based Teejay counts PVH Corp. — the parent company of fashion brands Tommy Hilfiger and Calvin Klein — as its top customer, according to its annual report. Still, Teejay faces challenges in a key market and in its home country. A slowdown in the US economy is expected to impact retail sales of “large apparel companies, and its effects will be seen in the global supply chain, including in Sri Lanka,” later this year, Premaratne said.