Nike and adidas Are Set to Significantly Reduce Production Rates Next Year

While it may seem that the sneaker industry is bigger than ever, according to various industry reports, adidas and Nike are expected to reduce their production rates by 30-40% in the coming year. The reports state that the labels have notified their manufacturing plants that order volumes will drop by a significant amount starting from the summer of 2023. At the present moment it’s not known how long this will last, although industry-insiders are claiming that the reduced rates could run until winter 2023, meaning we’d likely see a decline in the amount of footwear on the market until summer 2024.

The reports state that reasons for the decline include China’s ongoing COVID-19 issue, along with the withdrawal of retail locations in Russia. This is all despite growth in footwear sales in both the North American and European markets. Factories in both Vietnam and Indonesia have also already documented a fall in operation rates. Stay locked in right here at The Sole Supplier for more on this story as we get it, and while you’re with us check out an official look at the Off-White x Nike Terra Forma!