Since 2010, Adidas has cut the share of footwear it makes in China in half. The country that has absorbed most of that business is Vietnam.
A similar situation is playing out at Nike. A decade ago, China was its main footwear producer. Today, Vietnam owns that title.
The sneaker giants are among the major footwear and clothing companies that have been steadily moving production out of China. The country has turned its focus to more valuable items, such as electronics, leading to rising wages for higher skilled workers—and less business for those in its massive clothing, footwear, and textile industry, as international brands turn to low-wage nations in Southeast Asia.
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