Hasbro continues to reduce ties with China, aiming to source less than 50% of its toys for the U.S. market from there by the end of 2020. By 2023, that should drop to 33%.
Heading Trump’s call to American businesses to leave China, Hasbro continues to seek new opportunities for sourcing toys from Vietnam, India, Mexico, and back home in the U.S. Hasbro’s exit actually began back in 2012, when 90% of its toys for the global market came from China. Today that figure stands at two-thirds.
This post is based on the CNBC article, Hasbro CEO says moving out of China has “gone very well for us”, by Jasmine Kim, August 27, 2019, and the YouTube video, Hasbro CEO on reducing toy production in China below 50% by the end of 2020, by CNBC Television, July 23, 2019. Image source: Design Pics / Don Hammond
1. Why is Hasbro leaving China, a move which predated the Trump tariffs?
Guidance: In addition to the issue of higher costs because of recent tariff increases, other Continue reading