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Factbox-Walmart, Best Buy, Nike's major supply hubs in Asia
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Factbox-Walmart, Best Buy, Nike's major supply hubs in Asia
Apr 3, 2025 8:32 AM

(Reuters) - President Donald Trump's move to impose sweeping tariffs on U.S. imports could force major retailers to raise prices on products ranging from apparel and footwear to electronics as supply hubs Vietnam, Cambodia and Bangladesh reel from fresh levies.

Here are some of the Asia suppliers for retailers.

WALMART ( WMT )

Walmart ( WMT ) remains the biggest U.S. importer. About 60% of its imports, particularly items such as clothing, electronics and toys, are from China. In recent years, the retailer has diversified its supply chain to source from countries such as Vietnam, one of its top five suppliers, and India, reducing its exposure to China from 80% in 2018, according a Reuters report in November 2023.

TARGET ( TGT )

Country Exposure

China About 50% of company's total

suppliers

India About 6%

Indonesia 3%

Cambodia 3%

(As of August 2024)

Source: Supplier list at Target's ( TGT ) website

NIKE ( NKE )

Country Exposure

China 18% footwear, 16% apparel

Vietnam 50% footwear, 28% apparel

Indonesia 27% footwear

Cambodia 15% apparel

(As of May 31, 2024)

Source: Annual filing

LULULEMON ATHLETICA ( LULU )

Country Exposure

Vietnam 42% of all products

Indonesia 10% products

Cambodia 16% products

Sri Lanka 12% fabrics, 11% products

China 26% fabrics

Taiwan 40% fabrics

Bangladesh 8% products

(As of 2023)

Source: Annual filing

ADIDAS

Country Exposure

Vietnam 27% of Adidas' total volume

Indonesia 19%

China 16%

(As of 2024)

Source: Annual filing

PUMA

The German sportswear group said in its 2024 annual report that its business model relies on outsourced manufacturing from six Asian countries including China, Vietnam, Cambodia, Bangladesh, Indonesia and India. These countries together accounted for 91% of total production volume in 2024, down from 94% in 2023, the company told Reuters.

Country Exposure

China 28% of Puma's total production

volume

Vietnam 26%

Cambodia 16%

Bangladesh 11%

Indonesia 6%

India 4%

(As of 2024)

Source: Company statement to Reuters

ABERCROMBIE & FITCH ( ANF ):

Country Exposure

Vietnam 34% of company's total merchandise

receipts

Cambodia 19%

India 12%

China 9%

(As of fiscal 2023)

Source: Annual filing

GAP

Country Exposure

Vietnam 29% of fiscal 2023 purchases by

dollar value

Indonesia 18%

China less than 10% products sourced in

2024

(As of fiscal 2023)

Source: Annual filing

LEVI STRAUSS

While 23% of Levi's total apparel suppliers are in China, less than 1% of products sold in the U.S. are directly sourced from China, the company said in an annual filing.

Country Exposure

Vietnam 9% of company's total apparel

suppliers

Bangladesh 7%

India 16%

China 23%

Source: Supplier map on Levi's website

BEST BUY ( BBY )

About 60% of Best Buy's ( BBY ) total annual cost of goods sold are exposed to China, according to a recent note from Morgan Stanley.

China and Mexico are the two lead sources for the company's products, with about 2% to 3% of its overall assortment directly imported from the countries, the company said on a post-earnings call in March.

Source: Company filings, analysts' notes, earnings calls

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