Steven Madden Plans Major Shift from China

Steven Madden is accelerating its production shift away from China, planning to cut its manufacturing there by 40% within the next year due to anticipated tariffs under President-elect Donald Trump. The company had initially aimed for a 10% reduction but is now reacting swiftly to the election outcome, with CEO Edward Rosenfeld stating that the plan is already in motion. Trump's victory, which included key battleground states, has raised concerns among companies reliant on Chinese supply chains, prompting many to consider relocating production. Trump has proposed increasing tariffs on various imported goods, which could significantly impact the cost structure for U.S. companies. This move by Steven Madden reflects broader industry trends as firms prepare for a potentially more protectionist trade environment under the new administration.