The company relies on third-party vendors and licensors for its merchandise, as it does not manufacture the products it sells. The Genesco Brands Group business depends on third-party licenses. Product supply is contingent upon renewing license agreements and suppliers delivering merchandise on time, in required quantities, and meeting quality standards. A significant portion of retail footwear sales comes from brands of unaffiliated vendors, whose ability and willingness to supply products may be influenced by economic conditions, pandemics, labor issues, political unrest, raw material disruptions, and compliance with wage, labor, and environmental regulations. The company sources some products from China and is diversifying its sourcing base to reduce concentration risk. Risks associated with sourcing from China include adverse trade or political relations, political instability, labor cost increases, natural disasters, infectious disease outbreaks, and changes in laws and regulations related to taxation, tariffs, and environmental requirements. Currency exchange rate fluctuations also affect costs, including those for dollar-denominated foreign purchases.
Genesco Inc's Comment on Supply Chain
The company relies on third-party vendors and licensors for its merchandise, as it does not manufacture the products it sells. The Genesco Brands Group business depends on third-party licenses. Product supply is contingent upon renewing license agreements and suppliers delivering merchandise on time, in required quantities, and meeting quality standards. A significant portion of retail footwear sales comes from brands of unaffiliated vendors, whose ability and willingness to supply products may be influenced by economic conditions, pandemics, labor issues, political unrest, raw material disruptions, and compliance with wage, labor, and environmental regulations. The company sources some products from China and is diversifying its sourcing base to reduce concentration risk. Risks associated with sourcing from China include adverse trade or political relations, political instability, labor cost increases, natural disasters, infectious disease outbreaks, and changes in laws and regulations related to taxation, tariffs, and environmental requirements. Currency exchange rate fluctuations also affect costs, including those for dollar-denominated foreign purchases.
Sources:
Genesco Inc's official press releases and regulatory filings; CSIMarket.com's supply-chain research; and the financial filings and press releases of other companies cited in this report.
Updated on:
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